Bitcoin declined to $92,000 on November 20, slipping 0.41% as investors priced in the possibility of a December rate cut by the U.S. Federal Reserve. Its market capitalization stood at about $1.83 trillion, with roughly $80.08 billion in trading volume over the past 24 hours. Ether, the second-largest cryptocurrency, also subsided, falling 0.28% to $3,042.
Bitcoin prices registered a drop of 0.41% to $92,140.39 in early trade. The decline followed minutes from the Federal Reserve that signaled caution on inflation and the labour market, cooling risk appetite in crypto markets. This revaluation has weighed on risk assets and contributed to a broader retreat across digital assets.
Earlier this year, Bitcoin had surged toward $126,000, driven by hopes of several Fed rate cuts and stronger institutional adoption. Those momentum-driven gains have since faded, and buyers have pulled back. The downturn has impacted digital-asset treasuries whose valuations were tied to the earlier rally. Bitcoin briefly fell below $90,000 for the first time in seven months on November 18.
In Asia, Bitcoin traded about 2% lower in the afternoon to around $89,953. Ether remains under pressure, down roughly 40% from its August peak and trading near $2,997. The crypto market has struggled to stabilise after an October selloff that liquidated more than $19 billion and erased more than $1 trillion from token market value. Spot Bitcoin ETFs have posted five consecutive days of net outflows totalling $2.26 billion, underscoring persistent selling pressure.
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