Bitcoin fell during trading hours in Asia, while other high-risk assets rose after the Federal Reserve cut interest rates and expressed optimism about the economy. The first cryptocurrency fell 2.7% and briefly dipped below $90,000 in Singapore on Thursday morning, down from a daily high of $94,490 the previous day, according to Bloomberg data. Smaller currencies such as Ether, XRP and Solana also fell. Bitcoin is in a fragile situation Bitcoin is witnessing a state of weakness after a weeks-long selling wave that started in early October, followed by a large-scale liquidation event that wiped out about $19 billion of leveraged positions. Asian shares followed Wall Street’s gains on Thursday after Federal Reserve Chairman Jerome Powell led a quarter-point cut, but the move did little to lift cryptocurrency traders’ sentiment. Also Read: In line with expectations… the Fed cuts interest rates for the third time by 25 basis points. A clear disconnect between stocks and cryptocurrencies. Sean McNulty, head of derivatives trading in the Asia-Pacific region at FalconX, said: “This is a clear break between the behavior of stocks and cryptocurrencies.” Strategy, the Bitcoin holding specialist run by Michael Saylor, acquired 10,624 units worth $962.7 million between December 1 and 7 in the company’s biggest purchase since July. But it failed to hold the currency price above $94,000, “confirming that demand is under pressure from structural selling,” according to McNulty. You may be interested in: Strategic’s dollar reserve fails to dispel fears of selling Bitcoin. McNulty added that the next important level for Bitcoin is $88,500, while the $85,000 level constitutes the “decisive line of defense.”