Bitcoin traded below US$96,000 for the first time in over six months on Friday, as a sell-off in risky assets accelerated on fading expectations for a December rate cut from the U.S. Federal Reserve.
It was last down 2.8 per cent at US$96,009, having earlier dropped as low as US$95,885.33, its lowest since May 7.
The largest cryptocurrency by market cap was on track for its third straight weekly fall and is down almost 24 per cent from its peak in early October.
Risky assets have come under pressure in recent days as expectations of a rate cut from the Fed next month have shrunk as a growing number of policymakers signal reticence on further easing.
Markets now price in about a 50 per cent chance of a December rate cut, down from about 90 per cent earlier this month and just over 60 per cent earlier this week.
Ether, the second-largest cryptocurrency, was down 1.5 per cent at US$3,133.76.
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