Bitcoin rose to $ 91,000

On Thursday, November 27, Bitcoin BTC $89,833.22 Mezo Wrapped BTC 4.75% Market capitalization $42.84 million VOL. 24 hours $2.33 billion surpassed the $ 91,000 mark again after a week of declines, regaining ground thanks to a new influx of demand. The world’s largest cryptocurrency gained 4.5% over the past day and was trading at $ 91,755 as of 22:50 EST on Wednesday, according to The Block. Last week, the price of Bitcoin dropped to around $ 81,000.

«The rise of Bitcoin above $ 90,000 is a classic rebound after an oversold condition. After a sharp drop, buyers are returning to the market,» said Vincent Liu, chief investment officer at Kronos Research. According to him, the optimism in the market is strengthened by the expectation that the US Federal Reserve may cut the rate in December. CME Group currently estimates the probability of such a step at 84.7%. At the same time, Fed Chairman Jerome Powell emphasized that the decision has not yet been made, and uncertainty remains.

Jeffrey Ding, chief analyst at HashKey Group, explained that the current growth of Bitcoin is a «natural recovery after a sharp pullback» rather than a reaction to a specific factor. «The market structure remains stable, liquidity is improving, and long-term fundamentals are not a concern,» he added. Among other cryptocurrencies, Ethereum rose by 2.8% to $ 3,038, XRP by 1.6% to $ 2.22, BNB by 3.9% to $ 897.9, and Solana by 2.9% to $ 143.26.

Analysts note that investors are closely watching macroeconomic signals, in particular, the possibility of a December Fed rate cut and the flow of funds from institutional players that could support the market recovery. Ding also emphasized that the dynamics of flows into cryptocurrency ETFs and futures positions are an important indicator of whether the market can maintain its current momentum.

«After the market cleared of excessive long positions and a favorable macro backdrop emerged, cryptocurrencies gained room for a technical rebound synchronized with the growth of stock indices,» said Rick Maeda, an analyst at Presto Research. In his opinion, market sentiment will largely depend on whether flows into ETFs stabilize.

Overall investment sentiment remains relatively stable, added Jeff Ko, chief analyst at CoinEx. «U.S. stocks are near all-time highs, which limits the downward pressure on risk assets. Expectations of a December rate cut create favorable conditions for liquidity,» he emphasized. On Wednesday, the US stock indices showed the best four-day result since May: The Dow Jones rose by 0.67%, the Nasdaq by 0.82%, and the S&P 500 by 0.69%.