Bitcoin Plummets to $86,000, Driven by Veteran Whale Sell-Off and Delayed Interest Rate Cuts

On the 21st, Bitcoin (BTC) fell to its lowest level in over six months. According to CNBC, as investors reduced their exposure to risk assets and assessed the likelihood of additional rate cuts by the Federal Reserve in December, Bitcoin momentarily dropped to $86,155, marking its lowest price since April 21.

The release of U.S. employment data on the evening of the 20th, which exceeded expectations, raised doubts about whether the U.S. central bank would cut its benchmark interest rate. The economy added 119,000 jobs in September, significantly surpassing the 50,000 jobs forecasted by economists surveyed by Dow Jones...