Today’s Crypto Price: Bitcoin price drops below $92,000; XRP and Chainlink drop by more than 3%

Bitcoin It extended its decline from the previous day, falling below $92,000 on Tuesday amid Take profits and Federal ReserveThe bank expects to cut interest rates only twice for 2025, down from four in September due to persistent inflation.

At 10:26 AM EST, Bitcoin was trading at $92,314, down 1%, with an intraday low of $91,317. Meanwhile, Ethereum It traded 1.8% lower at $3,326.

The selling pressure is due in part to investors withdrawing their money after Bitcoin rose more than 117% this year. Uncertainty about the Fed’s interest rate policy for 2025 is adding to dovish sentiment, especially with the Fed signaling a pause in interest rate cuts until at least March.

“Bitcoin is facing resistance at $93,000 after witnessing strong volatility on profit-taking and concerns about a potential economic slowdown,” said Vikram Subburaj, CEO. Bitcoin ETFs reported cumulative outflows of $378 million yesterday, indicating a stance Caution among institutional investors. From Giotos.“If $92,000 fails to hold, a new local high below $90,000 becomes a possibility,” Soburaj added.

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“Bitcoin rose near $95,000 before profit-taking took it back to $92,400. More than $259 million in liquidations in the last 24 hours added to the pressure,” said Idul Patel, CEO of Mudrex.

Despite the retail selling, institutions like MicroStrategy are benefiting from the decline, purchasing 2,138 BTC for the eighth straight week, showing strong confidence in the asset class. “Current market conditions point to a possible ‘January effect’ as investor sentiment remains strong,” Patel noted.

Other major cryptocurrencies also saw declines, including XRP (3%), Solana (0.5%), Dogecoin (2%), Cardano (2.7%), Tron (2%), Avalanche (3%), and Chainlink (3.5%) %). and Shiba Inu (3.4%).

“XRP continues to be affected by the prevailing bearish sentiment with losses after losses. With the breakout of critical support levels, XRP is likely to head lower towards $1.90, with signs shown by technical indicators pointing to weak momentum and lack of interest from buyers in the near term,” he said. Avinash Shekhar, Co-Founder and CEO, Pi42.

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