BTC Recovers to $93K from Post-Fed Lows, But Altcoins Continue Facing Selling Pressure

Bitcoin Climbs to $93K as Altcoins Lag, Metals Rally

Bitcoin (BTC) rebounded to $93,000 on Thursday after hitting $89,000 following the Federal Reserve’s Wednesday rate cut and a weak U.S. stock open. While selling pressure appears to be easing, analysts caution that the market is not yet fully stabilized.

Altcoins largely remained under pressure. Cardano (ADA) and Avalanche (AVAX) led declines, down 6%-7%, while Ether (ETH) slipped 3% but stayed above $3,200.

Bitcoin’s late-day recovery mirrored modest gains in U.S. equities. The Nasdaq pared losses to close down just 0.25%, the S&P 500 ended slightly positive, and the Dow Jones rose 1.3%.

Precious metals surged, with silver jumping 5% to a record $64 per ounce and gold climbing over 1% to near $4,300, supported by a weaker U.S. dollar index, which fell to its lowest since mid-October.

Crypto exchange Gemini outperformed, rising more than 30% after gaining regulatory approval to offer U.S. prediction markets.

Crypto Moves Independently of Equities

Jasper De Maere, desk strategist at Wintermute, noted crypto’s growing decoupling from equities. “Yesterday fit the pattern: equities rallied while crypto sold off, indicating the Fed’s rate cut was already priced in,” he said, adding that markets are shifting attention toward U.S. crypto regulation and early stagflation concerns ahead of 2026.

Bitcoin Sell Pressure Slows

Swissblock noted that Bitcoin’s downward momentum is waning. “The second selling wave is weaker than the first. Signs of stabilization are emerging, though confirmation is still pending,” the firm said.