Bitcoin Weakens For Second Day...at one point the $95,000 mark

Cryptocurrency market leader Bitcoin continued to weaken for a second day after Fed Chairman Jerome Powell said the U.S. central bank could not hold bitcoin.

At 5:11 p.m. Eastern Time on the 19th, the price of each bitcoin was traded at $97,154 on Coinbase, a cryptocurrency exchange, down 3.36% from 24 hours ago.

Bitcoin's price once fell to the $95,500 range, falling to the $95,000 level in a month and a half since the 2nd of last month.

"Bitcoin is testing the $100,000 mark, marking its worst decline since September," Bloomberg reported.

The previous day, the Fed cut the number of rate cuts next year from four to two in its economic outlook, suggesting the base rate at the end of next year at 3.9%, 0.5 percentage points higher than the forecast in September.

In addition, Powell has poured cold water on Bitcoin's rise since the presidential election, saying, "We cannot own it," regarding its strategic stockpile, which is expected to be pushed by the second Trump administration.