Bitcoin Price Craters To $90,000 Despite Fed Rate Cuts

The bitcoin price fell on Wednesday night into Thursday, even after the U.S. Federal Reserve lowered interest rates, as Fed Chair Jerome Powell signaled a cautious approach heading into 2026.

On Wednesday, the Fed cut its benchmark rate by 25 basis points to 3.50%–3.75%, a move widely expected by markets. However, the 9–3 split among Federal Open Market Committee (FOMC) members and Powell’s hawkish remarks during the press conference tempered investor enthusiasm for risk assets, including cryptocurrencies. 

One official favored a deeper 50-basis-point cut, while two voted against any reduction.

The Bitcoin price briefly jumped over $94,000 but then dropped below…

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Dollar dominance can’t be manufactured

This is a segment from The Breakdown newsletter. To read full editions, subscribe.

“The dollar is always going to be the reserve currency. Anyway, for a long time.” 

— Jerome Powell

When the price of oil suddenly quadrupled in 1973, Saudi Arabia was wholly unprepared for the billions of dollars that started flooding in.

Strictly speaking, the money never actually made it “into” the Kingdom: Global buyers of Saudi oil sent their payments to accounts at Citibank and JPMorgan in New York — where the money sat idle because Saudi finance officials barely knew how to move it, let alone invest it.

With billions piling up in non-interest bearing accounts, the…

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Klarna Partners With Privy To Explore Use Of Crypto Wallets

Just weeks after announcing a stablecoin, Swedish fintech giant Klarna is taking another step into crypto. The company has teamed up with Privy, a wallet infrastructure platform owned by Stripe, to explore digital asset solutions for its users.

The partnership will focus on research and development of crypto wallet features, the company said. The two aim to make it easier for everyday users to store, use, and send digital assets. The move builds on the company’s recent launch of KlarnaUSD, a U.S. dollar-backed stablecoin issued on the Tempo blockchain.

“Millions already trust Klarna to manage everyday spending, saving, and shopping,” said Sebastian Siemiatkowski, CEO and…

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Satsuma Technology Sells 579 Bitcoin Ahead Of LSE Uplisting

Satsuma Technology (LSE: SATS) sold nearly half its bitcoin treasury and announced major board changes as it prepares for a planned uplisting to the London Stock Exchange’s main market.

The U.K.-based company sold 579 BTC out of its 1,199 BTC holdings, raising about £40 million ($53 million) in net proceeds, according to a Thursday announcement. The move leaves Satsuma with 620 BTC and roughly £90 million in cash.

The sale is designed to ensure the company has enough liquidity to repay £78 million in convertible loan notes due on Dec. 31, 2025. 

Some noteholders have not yet committed to converting their debt into equity once Satsuma publishes its prospectus for the…

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65% Of Bitcoin Treasuries Are Sitting On Unrealized Losses

Corporate Bitcoin treasuries faced mark-to-market losses in November, according to an exclusive Corporate Adoption Report from Bitcoin Treasuries. 

The report, covering more than 100 companies, offers a systematic look at how last month’s price drop affected public company holdings.

Bitcoin briefly fell below $90,000 in late November. The decline pushed many 2025 buyers into the red. Of the 100 companies for which cost basis is measurable, about two-thirds now sit on unrealized losses at current prices, per the report.

Despite the volatility, large balance sheets continued to dominate net Bitcoin buying. Strategy, Strive, and a small cohort of high-conviction buyers accounted for…

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A Test Of Financial Privacy And Developer Freedoms

This piece is featured in the print edition of Bitcoin Magazine, The Freedom Issue. We’re sharing it here as a sample of the ideas explored throughout the full issue.

On November 3, 2025, the freedom for developers to build financial privacy software is on trial.

Samourai Wallet was a Bitcoin privacy wallet developed by Keonne Rodriguez and William Lonergan Hill. It included specialized privacy tools that mixed the coins of wallet users in ways that required no third-party custody. The service’s servers helped coordinate “mixing” — methods to conceal the origin of coins and offer users some degree of forward privacy.

Rodriguez and Hill were arrested on April 24,…

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Bitcoin Price Roars Above $94,000 As Fed Cuts Rates

Bitcoin price surged above $94,000 today following a 25-basis-point rate cut by the Federal Reserve.

The Fed lowered its benchmark interest rate to 3.50%–3.75% to support maximum employment and contain somewhat elevated inflation amid moderate economic growth and slowing job gains.

This is the Fed’s third rate cut this year and the first since October. Most officials backed the move, while three dissented — one favoring a larger cut, two preferring no change.

Fed forecasts for 2026 and 2027 remain modest, with expectations for small rate reductions, 4.4% unemployment, and 2.4% PCE inflation.

The rate decision pushed the Bitcoin price higher, although markets had largely priced…

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ETFs flash a bid, HumidiFi tokenizes

This is a segment from the 0xResearch newsletter. To read full editions, subscribe.

Markets leaned cautiously risk-on, with crypto outperforming a mixed backdrop in traditional assets. ETF flows had their biggest one-day surge since October as CPI, Treasury auctions and a dense FOMC week could reset risk appetite. In addition, we discuss the new WET token, the native token of the HumidiFi prop AMM.

Indices

Markets leaned risk-on, with crypto leading and traditional assets mixed. BTC posted a modest gain (+2.3%), outperforming equities where the S&P 500 (-0.3%) and Nasdaq 100 (-0.2%) softened, while Gold held nearly flat (+0.3%). The standout laggard was the Perp Index,…

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SpaceX Moves $95M In Bitcoin Ahead Of Massive IPO

SpaceX moved another 1,021 bitcoin on Wednesday, worth about $94.5 million.

The transfer was split between two unlabeled addresses via Coinbase Prime custody. One address received 614 BTC, the other 407 BTC.

This marks the ninth such transfer by SpaceX this year. Recent movements total around 8,910 BTC, valued near $924 million. Analysts say the company is consolidating its holdings and upgrading from legacy bitcoin addresses. 

SpaceX’s bitcoin holdings were tagged on-chain by Arkham Intelligence. The company currently controls about 3,991 BTC, worth roughly $367 million at current prices. Holdings have fluctuated over the past several years. 

The total once peaked…

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Strategy Urges MSCI To Keep DATs In Global Indexes

Strategy, the world’s largest Bitcoin treasury company, has submitted a formal response to MSCI’s consultation on digital asset treasury companies (DATs), urging the index provider not to exclude companies whose digital asset holdings exceed 50% of total assets.

In its detailed letter to the MSCI Equity Index Committee, Strategy argued that the proposed threshold is “misguided” and would have “profoundly harmful consequences” for both investors and the broader digital asset industry.

Founded in 1989, the company operates as a corporate treasury and capital markets business with significant Bitcoin holdings, offering investors a range of equity and fixed-income…

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