Bitcoin Price Can't Clear $94K Hurdle. What May Help. — Barrons.com
By Callum KeownBitcoin and other digital assets fell early Friday as the latest cryptocurrency rebound proved to be another false dawn — for now.Bitcoin was trading at $91,250 early in the day, down 1.9% over the past 24 hours, according to CoinDesk data. The world's largest cryptocurrency climbed as high as $93,966 on Thursday, recovering from lows of $84,500 on Monday.But the crypto's latest attempt to push beyond $94,000--a level it last reached in mid-November--looks to have failed again for now.However, that could quickly change with the Federal Reserve's next interest-rate decision just days away on Dec.10. The central bank is widely expected to cut rates by a quarter-point--lower borrowing costs tends to boost crypto assets, making them attractive relative to lower-yielding alternatives.Key inflation data due Friday could shift rate expectations and potentially support another crypto comeback. That's if the Fed's preferred inflation metric-- core PCE--comes in cooler-than-expected on Friday and increases the chances of a rate cut in January as well as next week.Failing that, a cut by the Fed on Wednesday could give the green light for a risk-asset rally into the end of the year."Liquidity and sentiment remain fragile, so we don't view this as a full recovery just yet," Gracy Chen, CEO of crypto exchange Bitget said. "If the Fed confirms at least one rate cut, likely in December, the early-2026 period should stay favorable for both tech giants and digital assets."Ethereum, the second largest cryptocurrency, was down 1.6% at $3,135, while popular altcoin XRP slipped 3.8% to $2.07.Write to Callum Keown at [email protected] content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.