Fed rate-cut bets surge: Can Bitcoin finally break $91K to go higher?
Surging Fed rate-cut expectations boost sentiment, but Bitcoin's move past $91K is hampered by cautious derivatives positioning and stagnant ETF inflows.Summary
Bitcoin failed to reclaim $93,000 despite positive movement in US stocks and gold, leaving traders questioning what will spark sustainable bullish momentum. Traders are heavily betting on a Federal Reserve interest rate cut by December 10th, with 87% odds assigned, driven by signs of weakness in the US job market. However, Bitcoin's derivatives market shows caution; the monthly futures premium is low, and put option volumes recently exceeded call options, indicating lingering uncertainty after a recent pullback. Furthermore, inflows into Bitcoin ETFs have stagnated, and corporate holders like SpaceX fueled speculation of a potential sale after moving a significant BTC holding. Despite these headwinds, the article notes that President Trump's proposed tax cuts could boost scarce assets like gold and Bitcoin. Ultimately, Bitcoin's path higher, potentially past $100,000, seems increasingly dependent on holding the $90,000 level, supported by potential ETF re-inflows and central bank liquidity injections.
(Source：Cointelegraph)