Bitcoin is preparing for a huge earthquake as the Fed shock fuels fears of a collapse in cryptocurrency prices

Bitcoin swung wildly after strong US jobs data dampened expectations of interest rate cuts from the Federal Reserve and sent stock markets higher.

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The price of Bitcoin has fallen to around $92,000 per BTC, resuming a sell-off that lost steam earlier this week amid fears of an imminent collapse in Bitcoin prices.

Now, as Tesla billionaire Elon Musk issues a surprise warning about the price of Bitcoin, cryptocurrency traders are scrambling to assess what recent changes in Fed rate cut expectations mean for the price of Bitcoin.

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“It's Time to Sell” by Forbes – Dangerous Warning of Bitcoin Price Collapse Adding to Cryptocurrency Selloff Written by Billy Bambrough

Markets lowered their expectations for Federal Reserve Chairman Jerome Powell to cut interest rates… [+] Interest rates this year, which led to a decline in the price of Bitcoin, the cryptocurrency market and stocks.

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“Bitcoin’s decline below $93,000 highlights the growing impact of macro conditions,” Ryze Labs analysts wrote in an email note. “Liquidations totaled more than $1 billion this week, with long positions accounting for the majority as traders were forced to unload leveraged bets.”

The US economy added 256,000 jobs in December, the largest monthly increase since March, exceeding expectations of 155,000 new jobs. Meanwhile, the unemployment rate fell to 4.1%.

The latest data strengthened the Federal Reserve's case for keeping interest rates steady after cutting them by a full percentage point through 2024, as traders had previously been betting that the interest rate would continue to fall until 2025.

Expectations of higher long-term US interest rates have also sent bond yields rising sharply, with the 10-year US Treasury yield rising to its highest level since late 2023, weighing on stocks as the lure of higher bond yields makes stocks and assets move higher. Risks. Such as Bitcoin and other less attractive cryptocurrencies.

“There is a risk that Bitcoin will fall below $92,000 again, which could worsen Bitcoin technical sentiment and the price could extend its loss to… As low as $80,000.” .

“This week saw a sell-off in the price of Bitcoin from a high of $103,000 to $91,500,” John Glover, chief investment officer at cryptocurrency lending platform Ledn, said in email comments, adding that there could be a drop to between $80,000 and $91,000. $ to $85,000. If support above $90,000 fails.

While many Bitcoin and cryptocurrency traders are anxiously eyeing the short-term outlook for the Bitcoin price and the cryptocurrency market, others are confident that the downturn will be short-lived.

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Forbes'X Money leak reveals Elon Musk's game-changing plan as Bitcoin price approaches $100,000 By Billy Bambrough

The price of Bitcoin has fallen from its recent peak, but it is still much higher than it was previously. [+] A year ago.

Forbes digital assets

“With the inauguration of President Donald Trump just 10 days away, volatility in markets is likely to continue,” Rise analysts said, adding: “Despite the short-term challenges, Bitcoin’s structural drivers – such as institutional adoption and increased consolidation into the global financial system – “Continuing to support the bullish outlook for 2025.”

However, others remained bullish following the latest US economic data, anticipating that the outlook could boost Bitcoin's price.

“This favorable economic backdrop is a big tailwind for bitcoin, which tends to thrive in an environment where Investor confidence. Firmly in risk mode” which could put Bitcoin in “further price discovery” in the coming weeks.

“It is worth noting that a strong jobs report could provide the momentum needed to break through the $100,000 level again and rally to an all-time high of $108,000 – both critical psychological barriers that have recently limited Bitcoin’s gains.”

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