Bitcoin Bitcoin rallied back to $93,000 on Thursday as traders digested the Fed’s decision, but altcoins mostly stayed away from the rally.
Bitcoin fell to $89,000 and last traded at $93,000, rising slightly over the past 24 hours after the Federal Reserve cut interest rates on Wednesday and U.S. stocks opened sharply lower.
Altcoins mostly holding on to early losses, Cardano’s ADA Avalanche’s AVAX (AVAX) led the decline, falling 6%-7%. ether It fell 3% on the day and remained above $3,200.
While Bitcoin rebounded in late trading, a similar trend occurred in the U.S. stock market, with the Nasdaq closing only down 0.25% after falling 1.5%. The S&P 500 closed slightly higher, while the Dow rose 1.3%.
The day’s most notable gains came in precious metals, with silver surging 5% to a record high of $64 an ounce and gold rising more than 1% to near $4,300 an ounce. The U.S. dollar index (DXY) fell to its lowest level since mid-October, fueling the gains.
Cryptocurrency exchange Gemini stands out among crypto stocks, rising more than 30% on news of regulatory approval to offer prediction markets in the United States
Cryptocurrencies are different from stocks
Jasper De Maere, desk strategist at trading firm Wintermute, said Thursday’s action reinforces the growing decoupling of cryptocurrencies from equities, especially in terms of macro catalysts.
“Bitcoin outperformed the Nasdaq on macro days in only 18% of trading days last year,” he noted. “Yesterday fit the pattern: stocks rose while cryptocurrencies sold off, suggesting rate cuts are fully priced in and marginal easing no longer provides support.”
De Maere added that there are early signs of stagflation concerns in the first half of 2026, with markets starting to shift focus from Fed policy to U.S. cryptocurrency regulation as the next major driver.
Bitcoin selling pressure subsides
Analyst firm Swissblock noted that Bitcoin’s downward pressure is losing momentum and the market is stabilizing but is not out of the woods yet.
“The second wave of selling was weaker than the first wave and selling pressure did not intensify,” the company said in the X post. “There are signs of stabilization… but they have not been confirmed.”
