Cryptocurrency Summary

Bitcoin has recently experienced a downturn, trading below $90,000 as market jitters, particularly regarding artificial intelligence profits, weigh on risk appetite. Ether, Dogecoin, and Solana have also seen declines as Bitcoin struggled to maintain an early-week breakout.

In regulatory news, the Commodity Futures Trading Commission's Innovation Council has added prediction market and exchange CEOs to its roster, while Gemini's stock surged 14% following a new license that permits participation in US prediction markets.

Meanwhile, crypto mogul Do Kwon faces sentencing for misleading investors during a stablecoin crash that caused billions in losses. Additionally, the Federal Reserve has cut interest rates, but analysts suggest this may not significantly impact Bitcoin's performance, with options indicating calls sub-$100,000 for January.

Amid these developments, a new phishing service named Spiderman is targeting European banks and cryptocurrency holders, highlighting ongoing security concerns in the crypto space.