Bitcoin prices have declined in the last few days, falling to nearly $92,500 after robust U.S. economic data impacted Fed rate cut expectations.

The data, which conflict with the U.S. central bank's disinflation efforts, prompted investors to further dial back their rate-cut expectations for 2025. Fed funds futures traders assigned a 4.8% chance the Fed will hold rates steady at the Jan. 29 meeting, down from an 8.6% probability a day earlier, according to the CME FedWatch tool.

Bitcoin extended its losses on Wednesday, erasing a brief rebound past $100,000 due to fears of slower interest rate cuts in 2025. The cryptocurrency fell over 4% to $95,427 by 14:51 GMT, after dropping more than 5%