Bitcoin holds $90,000 as markets await Fed rate cut decision and Powell’s guidance

Bitcoin traded near $90,000 in a tight range as cryptocurrency markets adopted a low-conviction holding pattern ahead of the Federal Reserve's final policy decision of the year. Analysts suggest that Fed Chair Jerome Powell's guidance tomorrow will be more impactful than the expected rate cut itself, which is largely priced in. ETF flows show selective positioning, with altcoins attracting inflows while Bitcoin lags, indicating rotation rather than broad de-risking. Market structure indicators are mixed, suggesting the market is healing but lacks confidence. Experts believe a hawkish Fed tone could push BTC toward $88,000, while supportive signals could open a move toward $93,000-$95,000. Meanwhile, shallow liquidity and collapsing perpetual futures open interest reflect traders stepping back, though long-term buyers and institutions are accumulating, tightening the free float, leading to a quiet supply squeeze beneath the surface.

(Source：The Block)