Crypto Prices Today: Bitcoin Price Reverses to $90,000; Ethereum Down 3.94% and XRP Slips to $2.01

Overview:

• Bitcoin initially blipped above $94,000 following Powell's first comments but then reversed course quickly enough to around $90,000 as the Fed indicated caution over inflation.

• Ethereum slips nearly 4% to 3,194 dollars after briefly holding above 3,300 dollars. Solana, Cardano, Dogecoin, and XRP all recorded notable daily losses.

• While the 25 bp Fed rate cut had been priced in, thinner projections of cuts for 2026 and mixed signaling on inflation and labor markets created tension.

Crypto prices today showed bearish sentiments. Bitcoin, Ethereum, and major altcoins moved to react to the Federal Reserve's latest rate cut and cautious outlook. Markets briefly rallied after Jerome Powell's early remarks but quickly reversed. As investors reassess monetary policy expectations, volatility has returned across the wider crypto market. Here’s what happened in the crypto market today based on CoinMarketCap data. 

Bitcoin Price at $ 90,141

Bitcoin price slipped to $ 90,141, changing -2.66% over the past 24 hours. Currently, BTC changes hands at approximately 90,000 dollars, well below recent highs as markets readjust to the outlook for monetary policy.

CoinSwitch Markets Desk noted, “With the Fed cutting interest rates by 25 bps, BTC briefly climbed back above $94,000. However, the cautious tone from Fed Chair Powell, highlighting upside inflation risks, downside employment risks, and reaffirming that there is ‘no risk-free path for policy’, dampened hopes for an aggressive rate-cut cycle. BTC subsequently pulled back toward $92,000 with expectations of only one rate cut next year.”

CoinSwitch analysts further elaborated, “The Fed will also begin buying $40 billion in short-term Treasury bills from tomorrow. This adds a bit of extra liquidity into the system, which can help stabilize markets and support risk assets. BTC is likely to remain range-bound between $91,700 and $93,500 until a decisive breakout takes place.”

Ethereum and Top Altcoins Performance

Ethereum price fell to 3,194, down 3.94% in the last 24 hours, after earlier strength. ETH had wobbled above 3,300 at press time, showing better strength compared to Bitcoin. However, the token has now pulled back along with the broader market.

Crypto prices today in major altcoins showed mostly red:

Solana price dropped 6.97% to trade at $130.14, despite posting strong weekly gains of 9.64%. The altcoin has a market cap of $73.1 billion with $6.5 billion in 24-hour trading volume. XRP price fell 3.93% to $2.01, though the token is still up 8.18% over the week. Dogecoin slips 6.29% but remains up 8.38% on the week, trading at $0.1383.

Cardano was down 7.04% at $0.4316, with a market capitalization of $15.5 billion. BNB fell 2.60% to $868.14, TRON saw relative strength, falling just 0.64% to $0.2796. As expected, stablecoins Tether and USDC remained pegged around $1. The total crypto market cap is $3.16 trillion, down 2.4% from the previous day.

Also Read: Crypto Prices Today: Bitcoin Price Jumps to $92,559, Ethereum Rallies to $3,317, Dogecoin Up 4.55%

Why Is the Crypto Market Down Today

The weakness in the crypto market comes after the Federal Reserve cut interest rates by 25 basis points, marking the third straight quarter-point reduction. This was good news on the surface, but comments by Fed Chair Jerome Powell during the press conference after the meeting have thrown volatility across crypto prices today.

Powell further sent very mixed signals, confusing markets. He first focused on concerns about a perhaps weaker labor market, which briefly boosted sentiment. However, he next warned that the battle against high inflation was ‘far from over,’ and BTC quickly retreated and gave back most of its gain.

The Fed's updated projections showed officials anticipate only one more rate cut in 2026, less than many investors were hoping for. Nine out of the 12 policy committee members supported the cut, but the fact that two members voted against any rate reduction shows there was disagreement about the move.

Fed Balance Sheet Changes Add to Complexity

Adding another layer to the picture, the New York Fed announced it will begin purchasing $40 billion in short-term Treasury bills over the next month, from this Dec 12. The move is designed to help ease financial conditions without the full reinstatement of quantitative easing. Powell indicated these purchases would remain ‘elevated’ for a few months.

This marks a shift from the past three years, wherein the central bank was reducing its balance sheet after the pandemic expansion.

Market Reaction and Trading Outlook

This reflects an about 78% probability that the Fed will hold rates steady at its next meeting in January, from 70% ahead of the decision. It has dimmed hopes of an aggressive easing cycle that some crypto investors were banking on to raise the price of digital assets. The Fed seems to be balancing the labor market concerns with the need to continue fighting inflation.

Crypto News: Global Markets Give Conflicting Signals

Here are the global cues impacting crypto prices today:

Asian and US Equity Markets

Asian stocks proved more optimistic than the crypto market on Dec 11. The MSCI Asia Pacific Index added about 0.5% in early trading, with tech and financial shares driving advances. That follows a positive session on Wall Street, where the S&P 500 closed 0.7% higher, and the Russell 2000 small-cap index surged 1.3% to a record.

Greater China markets, however, were divided. The Shanghai benchmark fell 0.18%, whereas Hong Kong's Hang Seng index surged 0.4% due to flows back into large-cap stocks.

Tech sentiment turned cautious late in US after-hours trading. The Nasdaq 100 futures dipped around 0.3% in Asian hours on Dec 10, after Oracle reported disappointing revenue and sent its shares sharply lower. Nvidia also edged down, in a sign that investors were trimming some of their bets on artificial intelligence that often sit alongside crypto holdings in portfolios.

Dollar Weakness Provides Some Support

Perhaps the most notable mover on Dec 10 was the US dollar, which dove about 0.6% against the yen, euro, and British pound. The dollar's weakness usually gives crypto prices a boost today, albeit that wasn't enough to avoid the decline on Thursday.

Also Read: Bitcoin News Today: Michael Saylor’s BTC Bank Blueprint Targets $50T in Global Low-Yield Capital Flows

Market Outlook

Analysts say that Wednesday's Fed decision wasn't as negative as was feared, giving markets some relief. However, fewer expected rate cuts in 2026 remains a concern. "Today's announcement is not enough to spark a Santa rally for Bitcoin," noted Nic Puckrin of The Coin Bureau. He sees no obvious catalysts ahead except perhaps some kind of announcements from President Trump. If spot ETF inflows strengthen with borrowing costs falling, that could push Bitcoin back above $100,000.

FAQs

1. Why did crypto prices fall today?

Crypto prices fell as the Federal Reserve delivered on a rate cut, but not with a clear view of its future actions. Traders had hoped for clearer signals and perhaps even more rate cuts ahead; instead, more cautious language about inflation and a reduced projection of cuts for 2026 had markets going on the defensive, pulling back crypto prices across Bitcoin, Ethereum, and major altcoins.

2. How did Bitcoin react to the Fed's announcement?

Bitcoin climbed above $94,000 in the wake of Powell's early comments, which seemed to indicate his concern about a softer labor market. However, once he showed that inflation is still a problem and any further cuts may be limited, Bitcoin lost steam and fell back to about $90,000. The reversal was more indicative of uncertainty than panic.

3. Why did altcoins fall more sharply than Bitcoin?

Altcoins are more sensitive to market uncertainty, which means when the Fed's message turned mixed, investors entered safer assets within crypto. This made coins like Solana, Cardano, and Dogecoin fall faster. Not even strong weekly performers could hold onto gains against shifting rate-cut expectations and broader risk-off trading.

4. Were crypto prices today influenced by global equity markets?

Yes, they did. With Asian and U.S. markets mostly positive, the decline of major technology stocks during after-hours trading placed pressure on sentiment. Since many cryptocurrency investors hold technology shares, too, weakness in companies such as Oracle and Nvidia usually overflows into crypto markets, adding to volatility.

5. What should investors watch next regarding crypto direction?
Investors should pay attention to the forthcoming economic data, ETF inflows, and any fresh signal from the Fed. In an environment of further declines in borrowing costs and increased liquidity, Bitcoin might well recover toward the $100,000 level. But without strong catalysts, the market could remain range-bound until confidence returns.