Bitcoin Reclaims $90,000 as Markets Bet on December Fed Rate Cut

A softer dollar, upbeat sentiment in Asia, and growing conviction that the Federal Reserve will cut rates next month helped Bitcoin surge past $90,000 early Thursday.
Despite thin trading in a holiday-shortened U.S. week, risk appetite strengthened across crypto and equities as investors positioned for the Fed’s final policy decision of the year.

Bitcoin Jumps Above $90,000 as Rate-Cut Odds Surge

Bitcoin climbed to $91,229, up 4.3%, during early Asian trading hours.
The rebound followed a broadly positive market mood, with Asian stocks higher and the U.S. dollar retreating as traders ramped up bets on a December interest rate cut.

Futures now price in an 85% probability of a 25-basis-point cut — a sharp jump from 30% just one week ago, according to the CME FedWatch tool.

Holiday conditions kept U.S. volumes subdued, with Wall Street closed for Thanksgiving and scheduled for a shortened Black Friday session. Still, global investors leaned into risk, encouraged by the latest rally in U.S. tech stocks.

Market Snapshot

• Bitcoin: $91,229 (+4.3%)
• Ether: $3,038 (+2.8%)
• XRP: $2.21 (+1.1%)
• Total crypto market cap: $3.19 trillion (+4.1%)

Fed Signals Gain Importance as Fresh Data Remains Limited

Following the end of a 43-day U.S. government shutdown in mid-November, many economic reports remain outdated. As a result, the market is relying heavily on Federal Reserve commentary to assess policy direction.

This week, comments from San Francisco Fed President Mary Daly and Fed Governor Christopher Waller pushed traders further toward expecting an imminent pivot toward easing.

Meanwhile, new jobless claims fell to a seven-month low, reinforcing expectations of a soft economic landing.

AI Strength Fuels U.S. Market Rally

Wall Street closed higher for the fourth consecutive session on Wednesday, driven by renewed tech momentum and rising confidence in a December rate cut.

Concerns about stretched valuations eased after Nvidia delivered strong quarterly results and guidance, reaffirming robust demand for AI infrastructure. Dell Technologies added to the momentum after issuing a revenue outlook that surpassed expectations, helping stabilize sentiment across AI-linked stocks.

Crypto traders monitored both macro signals and technical levels.
Analyst Piyush Walke from Delta Exchange noted:

• Bitcoin remains below its 50-day and 200-day SMAs, with $93,000 acting as key resistance.
• Ethereum bounced off a major long-term ascending trendline; a decisive daily close above $3,000–$3,050 could pave the way toward $3,200–$3,300.

Asian Stocks Rise as Regional Risk Appetite Improves

Asian markets opened firmer, reflecting the global uptick in risk appetite:

• MSCI Asia Pacific ex-Japan index rose 0.27%, aiming to end a three-week slide.
• Japan’s Nikkei and South Korea’s Kospi each advanced more than 1%.

China’s property sector remained a pressure point, with investors watching whether China Vanke would secure bondholder approval to delay repayment on a 2 billion yuan ($282.6m) onshore bond.

With Bitcoin above $90,000, AI-driven U.S. equity gains, and expectations of a December Fed rate cut rising sharply, Asia entered the trading day with renewed — though cautious — appetite for risk.