Bitcoin and virtual assets are continuing to decline ahead of U.S. President Donald Trump's inauguration.
As of 7:30 a.m. on the 10th, Bitcoin is trading at $92,353 on the global virtual asset market site CoinMarketCap. This is a decrease of 2.8% compared to the previous day. Bitcoin was trading around $91,200 at about 5 a.m., threatening the $91,000 level.
Other virtual assets are also showing a downward trend. At the same time, Ethereum is trading at $3,223, and Ripple is priced at $2.28, representing declines of 2.81% and 3.28%, respectively, from the previous day. Additionally, Solana is trading at $186, down 5.23% from the previous day, while Dogecoin has fallen 5.56% to $0.3222.
The recent decline in virtual assets is attributed to expectations that the U.S. Federal Reserve will not cut interest rates and the fading effects of Trump. Alongside a robust U.S. economy, strong macroeconomic indicators have diminished factors for the Federal Reserve to lower rates, dampening investor sentiment towards virtual assets.