Bitcoin Slips Below $88,500 as Fed Decision and Big Tech Earnings Weigh on Crypto Markets

Bitcoin traded below the $88,500 level during early-week trading as the broader crypto market softened ahead of a critical period for global financial markets. Investor caution is building as traders await the U.S. Federal Reserve’s policy decision and a heavy round of Big Tech earnings, both of which are expected to shape near-term risk sentiment across asset classes.

The world’s largest cryptocurrency hovered around $88,400 during Asian trading hours, slightly down on the day and nearly 4% lower over the past week, according to CoinDesk data. Ethereum remained relatively stable near $2,940, while major altcoins such as Solana, XRP, and Dogecoin also posted modest losses. The synchronized pullback across leading digital assets highlights a cautious tone in the crypto market as investors reduce exposure ahead of macroeconomic catalysts.

In contrast to crypto’s muted performance, precious metals experienced sharp volatility. Silver retreated from intraday extremes in late U.S. trading after recording its largest single-day jump since 2008, while gold eased off record highs after briefly surpassing the $5,000-per-ounce mark. Despite the pullback, silver still closed the session up 0.6%, underscoring strong demand for traditional safe-haven assets amid global uncertainty.

Bitcoin, however, has struggled to capitalize on the same macro tailwinds that have supported equities and metals, including falling real yields, a weaker U.S. dollar, and rising geopolitical risks. The divergence reinforces the view that cryptocurrencies are currently trading more like high-beta risk assets rather than reliable hedges.

Market analysts note that bitcoin remains below key moving averages and has failed to reclaim important technical levels from the past two months. With the Federal Reserve expected to hold interest rates steady and earnings from major technology firms poised to test the durability of the AI-driven stock rally, crypto prices may remain range-bound. For now, bitcoin appears stuck near current levels, drifting lower as investors wait for clearer signals on broader risk appetite.