Bitcoin retreated slightly after hitting a two-week high overnight. However, the cryptocurrency is still above the key level of $90,000, as market expectations that the Federal Reserve will cut interest rates further before the announcement of the December 10 decision boosted demand for risky assets. Bitcoin has rebounded since Monday's sharp sell-off. This sell-off is partly driven by Bank of Japan Governor Kazuo Ueda's strong suggestion that interest rates will be raised on December 19. According to data from the London Stock Exchange Group, Bitcoin recently fell 0.4% to $93,342, hitting a high of $94,082 overnight. Bitcoin recorded its worst single-day performance since March on Monday, hitting a one-week low of $80,553.

Bitcoin retreated slightly after hitting a two-week high overnight. However, the cryptocurrency is still above the key level of $90,000, as market expectations that the Federal Reserve will cut interest rates further before the announcement of the December 10 decision boosted demand for risky assets. Bitcoin has rebounded since Monday's sharp sell-off. This sell-off is partly driven by Bank of Japan Governor Kazuo Ueda's strong suggestion that interest rates will be raised on December 19. According to data from the London Stock Exchange Group, Bitcoin recently fell 0.4% to $93,342, hitting a high of $94,082 overnight. Bitcoin recorded its worst single-day performance since March on Monday, hitting a one-week low of $80,553.