Africa-Press – Kenya. Bitcoin fell more than 6% to its weakest level in six months on Friday as growing uncertainty about the US economy undercut expectations of a Federal Reserve rate cut in December.
The largest cryptocurrency was trading at $97,190 at 0705 GMT, around its weakest level since May. Data from CoinMarketCap showed the value of the global cryptocurrency market, including Bitcoin, fell about 6.9% in the past 24 hours to $3.26 trillion.
Bitcoin’s market capitalization dropped 5.8% in the past 24 hours to $1.94 trillion, while daily trading volume rose about 50% to $111.1 billion. Still, Bitcoin is up roughly 4.1% since the start of 2025.
Ethereum, the second-largest cryptocurrency by market value, slid about 9% to $3,220.
The sell-off was driven chiefly by uncertainty over the US economic outlook. Markets scaled back bets on a Fed rate cut after a nearly 43-day government shutdown, which ended Wednesday, raised concerns that key October employment and inflation data might not be released. That has left the Fed with less information ahead of its Dec. 10-11 meeting.
According to CME FedWatch, traders were pricing in a 45.4% chance of a 25-basis-point cut in December on Friday, down from a 63.8% probability a week earlier.
The dearth of official economic data dented risk appetite and weighed on speculative assets, keeping traders cautious across cryptocurrency markets.
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