Bitcoin fell to 88,590 USD after peaking at 93,000 USD, indicating a 2% drop. The market seems unfazed by the upcoming U.S. Crypto Summit, with traders showing caution and emphasizing resistance levels at 92,000 USD.

The rise in jobless claims suggests a possible Federal Reserve interest rate cut. Analysts are noting a growing chance of rate decreases, which could positively influence risk assets like cryptocurrencies, enhancing investor sentiment.