Bitcoin price today: Why did the cryptocurrency fall? What we know so far

price Bitcoin Today, January 13, it dropped to $92,567.84. Early last week, the price surpassed $100,000 per bitcoin.

The decline comes after the cryptocurrency It experienced a meteoric risenourished In part through the re-election of Donald Trump, who is in office Pro-encryption stance and He pledged to make the United States the “crypto capital of the planet.” He supported the creation of a “strategic bitcoin reserve” earlier this year.

How much did the price of Bitcoin fall?

Bitcoin briefly fell below $90,000 on Monday, January 13. At the beginning of the week, the cryptocurrency fell 2 percent to $92,567.84, according to Chin Metrics.

It has fallen to $89,259 and is down 9 percent in the past week.

Why did the price of Bitcoin fall?

The cryptocurrency market is known to be volatile and subject to change.

The market suffered after its post-election gains, and now the price of Bitcoin has fallen as traders reassess 2025 expectations for interest rate cuts by the Federal Reserve, according to… to Forbes.

A series of positive economic updates means the Fed is unlikely to cut interest rates.

On January 10, the US Bureau of Labor Statistics reported an increase of 256,000 nonfarm payrolls, exceeding most expectations in a survey from 2018. Bloomberg.

There was a further decline in the unemployment rate to 4.1 percent, and average hourly earnings rose by 0.3 percent in December. According to reports, this means traders are not expecting a rate cut until September, according to Cointelegraph and data from the Chicago Mercantile Exchange.

This possibility of prolonged high interest rates has negatively impacted risky assets such as cryptocurrencies.

Additionally, ongoing legal proceedings involving major cryptocurrencies, such as XRP and its parent company Ripple, are contributing to market uncertainty, impacting investor sentiment across the cryptocurrency market.

Will Bitcoin bounce back?

It is unclear whether Bitcoin will bounce back, and the cryptocurrency market has historically been vulnerable to change.

Some experts expected further declines. Investor Arthur Hayes predicted that the price of Bitcoin and the cryptocurrency market would collapse in late March.

In the weeks following the election, J.D. Serafin, CEO of cryptocurrency-based AI validation platform Rainmaker, He said Newsweek “Trump’s victory certainly accelerated the price movement” for Bitcoin, while emphasizing that there is “a great deal of hype surrounding Trump taking office and creating regulatory clarity for cryptocurrencies in the United States.”

Additionally, Trump’s selection of blockchain advocate Paul Atkins to lead the Securities and Exchange Commission means traders can expect a lighter regulatory environment for cryptocurrencies.

What other cryptocurrencies are down?

• The broader crypto market: fell more than 5 percent, as measured by the CoinDesk 20 Index.
• ether: Lost 7 percent on Monday.
• Coinbase shares: Decreased 4 percent.
• Microstrategy Stocks: decreased 3 percent.
• Mara Holding: decreased 4 percent.
• Basic scientific: Decreased by 2 percent.
• Dogecoin: Decreased by 2.86 percent.

What’s next

Although the price of Bitcoin grew by 120 percent in 2024, it fell by 3 percent in less than two weeks into the new year.

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