Bitcoin retreated to $93,000 on Thursday as traders digested the Fed decision, but altcoins mostly did not participate in the rally.
Falling to $89,000 following the Federal Reserve’s rate cut on Wednesday and a markedly lower open for US stocks, bitcoin recently traded at $93,000, up marginally over the past 24 hours.
Altcoins mostly held on to their early losses with Cardano’s ADA and Avalanche’s AVAX (AVAX) leading decliners, down 6%-7%. Ether was 3% lower on the day and held above $3,200.
Bitcoin’s late-day bounce came alongside similar action in US stocks, with the Nasdaq managing to close down just 0.25% after being as much as 1.5% lower. The S&P 500 closed modestly in the green and the DJIA rose 1.3%.
Today’s sensational rally came from precious metals, with silver rising 5% to a new all-time high of $64 per ounce. ounce, and gold rose over 1% to nearly $4,300. The advance was helped by the US dollar index (DXY) falling to its weakest since mid-October.
Crypto exchange Gemini stood out among crypto stocks, gaining over 30% on news of gaining regulatory approval to offer prediction markets in the US
Crypto differs from stocks
Jasper De Maere, desk strategist at trading firm Wintermute, said Thursday’s action reinforced crypto’s growing decoupling from equities, particularly around macro catalysts.
“Only 18% of the past year’s sessions have seen BTC outperform the Nasdaq on macro days,” he noted. “Yesterday fit the pattern: stocks rose while cryptos sold off, suggesting the rate cut was fully priced in and that marginal easing is no longer supportive.”
De Maere added that early signs of stagflation concerns are emerging in the first half of 2026, and markets are starting to shift focus from Fed policy towards US crypto regulation as the next big driver.
Bitcoin selling pressure is easing
Research firm Swissblock noted that the downward pressure on bitcoin is losing steam, with the market stabilizing but not yet out of the woods.
“The second wave of sales is weaker than the first and selling pressure is not intensifying,” the firm said in an X filing. “There are signs of stabilization… but not confirmation.”
