This development in the cryptocurrency market comes amid investors' aversion to risk, in light of the broad rise in US yields, which followed a more aggressive meeting of the Federal Reserve.

Price overview

• Bitcoin price today: On the "Bitstamp" exchange, the price of the digital currency "Bitcoin" fell by about ($4,914), equivalent to more than 5.0%, to ($92,502), the lowest since December 5, from the opening price of today's trading at ($97,416), and recorded the highest level at ($98,123).

•Bitcoin prices fell 2.8% on Thursday at the Bitstamp exchange, marking the second consecutive daily loss, as corrections accelerated and profit-taking from the all-time high of $108,364 per token.

Cryptocurrency market cap

The market cap of cryptocurrencies fell by about $180 billion on Friday to a total of $3.333 trillion, due to a corrective decline in the prices of Bitcoin and other major currencies.

Weekly transactions

Throughout this week's trading, which officially ends with the settlement of prices today, Sunday, Bitcoin prices are currently down by about 11.5%, on the verge of suffering its first weekly loss in the last three weeks.

US bond yield

The yield on the 10-year US Treasury note traded around 4.594% on Friday, its highest level in six months, undermining risk appetite in the markets.

Federal Reserve Bank

•In line with expectations, the Federal Reserve on Wednesday cut interest rates by about 25 basis points to a range of 4.50%, the lowest level since December 2022, in the third consecutive US interest rate cut.

•In its updated monetary policy statement, the Fed maintained the statement that risks to achieving its employment and inflation goals are considered “roughly balanced.”

•In its Economic Outlook report, the Federal Reserve kept the target interest rate for the current year at 4.5%, and raised the target interest rate for 2025 from 3.5% to 4.0%, the target interest rate for 2026 from 3.0% to 3.5%, and the target interest rate for 2027 from 3.0% to 3.25%.

•The above point shows that the Fed expects only two rate cuts in 2025, compared to its previous forecast in September of four cuts. $BTC