Bitcoin rebounded to the $93,000 level on Thursday after briefly sliding to $89,000 in the wake of the U.S. Federal Reserve’s latest interest rate cut and a shaky start for U.S. equities. The world’s largest cryptocurrency was trading marginally higher over the past 24 hours as markets worked to digest the central bank’s move, a report by CoinDesk said.
Altcoins, however, failed to participate in the recovery. Cardano’s ADA and Avalanche’s AVAX led losses, each dropping between 6% and 7%. Ether also retreated, falling 3% but maintaining support above $3,200.
Bitcoin’s intraday bounce aligned with a late-stage turnaround in U.S. stocks. The Nasdaq pared steep early losses to close down just 0.25%, after falling as much as 1.5%. The S&P 500 managed a modest gain, while the Dow Jones Industrial Average climbed 1.3%.
Precious metals outshone both crypto and equities. Silver surged 5% to a record high of $64 per ounce, while gold advanced more than 1% to trade near $4,300. The rally was supported by continued weakness in the U.S. dollar, with the DXY falling to its lowest level since mid-October.
Among crypto-related equities, exchange Gemini posted one of the day’s most notable gains, soaring more than 30% after securing regulatory approval to launch prediction markets in the United States.
Market analysts said the trading session underscored growing divergence between crypto assets and traditional markets. Wintermute strategist Jasper De Maere noted that bitcoin has outperformed the Nasdaq on macro-driven trading days just 18% of the time over the past year, the report added.
“Equities rallied while crypto sold off, indicating the rate cut was already priced in and that marginal easing is no longer supportive,” he said, adding that rising stagflation concerns and the progression of U.S. crypto policy are becoming key market drivers for 2026.
Analytics firm Swissblock said selling pressure on bitcoin appears to be fading. “The second selling wave is weaker than the first,” the firm said, noting early signs of stabilization, though without firm confirmation of a trend reversal.
