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Bitcoin edged lower on Friday but retained most of its strong mid-week recovery, as traders stayed focused on expectations of a U.S. Federal Reserve rate cut and awaited crucial inflation figures.
The world’s largest cryptocurrency was last down 1.1% at $92,146.6 by 01:59 ET (05:59 GMT).
Earlier in the week, Bitcoin briefly slid toward $84,000, its lowest level in nearly a month, after a bout of risk-off sentiment triggered heavy leveraged liquidations across crypto markets. Even so, the subsequent rebound has left Bitcoin on track for a 1% weekly gain.
Fed cut expectations underpin Bitcoin
The recovery has been supported by growing conviction that the Federal Reserve could cut interest rates next week.
Thursday’s U.S. jobless claims data showed first-time filings fell sharply to their lowest level in more than three years, reinforcing the view that the labour market is cooling enough to give the Fed room to begin easing policy.
The prospect of lower borrowing costs typically supports risk assets such as cryptocurrencies by improving liquidity and reducing the appeal of yield-bearing instruments.
However, trading remained cautious ahead of Friday’s release of the U.S. Personal Consumption Expenditures (PCE) Price Index — the Fed’s preferred inflation gauge. A softer reading could further strengthen the case for a rate cut.
At the same time, reports indicate that institutional inflows into Bitcoin have slowed compared with earlier quarters, leaving prices more vulnerable to rapid swings driven by derivatives positioning and shifts in sentiment.
BofA opens the door to crypto for wealth clients
In a notable sign of growing mainstream adoption, Bank of America (NYSE:BAC) said on Thursday it will begin allowing its wealth advisers to recommend crypto exposure to client portfolios starting January 2026.
Under the new policy, advisers at Bank of America Private Bank, Merrill, and Merrill Edge will be able to suggest regulated crypto exchange-traded products (ETPs), with a recommended allocation of 1% to 4% of a client’s portfolio.
The bank said the move reflects rising client interest in digital assets and demand for exposure to “thematic innovation,” while stressing the high risk and volatility associated with cryptocurrencies.
Beginning January 5, Bank of America strategists will start covering four major Bitcoin ETFs — including products from Bitwise, Fidelity, Grayscale, and BlackRock — to support this new advisory framework.
Crypto price today: altcoins retreat, XRP drops 5%
Altcoins largely tracked Bitcoin lower amid a cautious tone on Thursday:
- Ethereum (ETH) fell 1.3% to $3,163.92
- XRP dropped nearly 5% to $2.07
- Solana eased 3.5%
- Cardano slipped 2.5%
- Polygon retreated 3.5%
Among meme tokens, Dogecoin and $TRUMP each declined around 2%.
