The cryptocurrency market capitalization has formed a local maximum

Bitcoin briefly surpassed $ 93,000 on Thursday, which caused most major cryptocurrencies to rise. Nevertheless, analysts warn of possible increased volatility, as the market remains sensitive after large-scale liquidations at the beginning of the week. Currently, attention is focused on whether BTC will be able to maintain support in the range of $ 90,000-$ 91,000. According to Bitunix analysts, the price movement on December 3 resembles a «fake breakout»: the asset rose above $ 93,000 but quickly lost its gains. The $ 93,200 level is now seen as a new resistance zone.

Among the altcoins, the most noticeable changes were demonstrated by Cardano ADA $0.39 Cardano 0.18% Market capitalization $14.28 billion VOL. 24 hours $29.59 million , which rose by 5% after the first major network management offer for 70 million ADA was approved. The solution is aimed at boosting activity in the blockchain and is considered an important step in the decentralization of the ecosystem. Ethereum ETH $3,116.27 Bridged Ether (StarkGate) 0.82% Market capitalization $71.47 million VOL. 24 hours $0.48 billion grew by 4% after the launch of the Fusaka update, designed to increase the efficiency of processing large transaction packets from second-tier networks that interact with the main network.

Institutional capital flows confirm that bitcoin remains preferred by large investors. Funds tracking BTC recorded $ 58.5 million in net inflows, while ETH-based products showed outflows of $ 9.9 million. This trend, which has been going on for several weeks now, indicates greater institutional confidence in bitcoin amid macroeconomic uncertainty.

The macro environment continues to shape investor sentiment. US President Donald Trump has announced his intention to increase his influence on the Federal Reserve System through personnel appointments, in particular, he announced the selection of a new Fed chairman early next year. His favorite is economist Kevin Gassett, known for his commitment to looser monetary policy. This has fueled expectations of a possible easing in 2025, although inflation is still above target and the labor market remains tight.

Institutional interest in digital assets is growing. on December 2, Vanguard opened access to crypto-ETF trading for clients, changing its position on the market for the first time. Meanwhile, Bank of America recommended that large clients allocate 1−4% of their portfolios to digital assets. The total market capitalization of the crypto market rose to $ 3.15 trillion, forming a new local high, indicating a gradual recovery of the growth trend, despite the continued caution below the level of $ 3.38 trillion.