Bitcoin rebounds above $91,000 as December rate cut odds rise
Bitcoin recovered above $91,000, supported by rising expectations for a December Federal Reserve rate cut.Summary
Bitcoin climbed back above $91,000, rising 4.5% after a recent drawdown, with analysts attributing the snapback partly to a broader risk-on sentiment.
This sentiment is fueled by increasing odds, currently at 84.7% according to CME Group's FedWatch, that the Federal Reserve will implement a rate cut in December, suggesting a more liquidity-friendly environment ahead. However, some analysts, like Jeffrey Ding of HashKey Group, view the rebound primarily as a natural correction after a sharp pullback, noting that market structure and long-term fundamentals remain healthy.
Other major cryptocurrencies also saw gains, and traders are closely monitoring macro signals, institutional flows, and ETF positioning to determine if the recovery can be sustained amid stable broader risk sentiment, as evidenced by recent gains in U.S. equities.
(Source：The Block)