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Bitcoin (BTC) climbed back to the $93,000 level on Thursday after briefly sliding to $89,000 following the Federal Reserve’s rate cut and a volatile start in U.S. equities. The largest cryptocurrency recovered modestly over the past 24 hours, showing resilience even as most altcoins failed to rebound.
While bitcoin stabilized, altcoins continued to struggle. Cardano (ADA) and Avalanche (AVAX) led the downturn with 6%–7% losses, and Ether (ETH) slipped 3% but held above $3,200. The uneven market performance highlighted a growing divergence between bitcoin and the broader altcoin sector.
Bitcoin’s rebound coincided with a late-session recovery in U.S. stocks. The Nasdaq pared a sharp intraday decline to close down just 0.25%, while the S&P 500 edged into positive territory and the Dow Jones Industrial Average gained 1.3%. Traditional safe-haven assets outperformed, with silver hitting a record $64 per ounce after a 5% surge, and gold approaching $4,300 as the U.S. dollar index fell to its weakest level since mid-October.
Among crypto-related equities, Gemini drew attention with a more than 30% rally after securing regulatory approval to launch prediction markets in the U.S., signaling growing institutional interest despite broader market uncertainty.
Market analysts noted that crypto’s response to macroeconomic events is increasingly diverging from equities. Wintermute strategist Jasper De Maere pointed out that only 18% of macro-driven sessions in the past year saw bitcoin outperform the Nasdaq. He said Wednesday’s action reflected the market fully pricing in the rate cut as investors shift focus toward upcoming U.S. crypto regulatory developments and rising stagflation concerns heading into early 2026.
Despite recent volatility, selling pressure on bitcoin appears to be easing. According to Swissblock, the latest wave of selling is weaker than the previous one, suggesting early signs of stabilization even though a clear confirmation has yet to emerge.
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