Bitcoin BTC$90.530,07 remained steady above $91,000 on Friday as crypto markets where little-changed in the past 24 hours, reflecting low volatility from Thursday's Thanksgiving holiday in the states.

Sentiment has improved from last week’s lows, with the index rising to 22 — still deep in “extreme fear,” but reflecting a measurable pickup in buyer activity across large caps.

BTC has now retraced roughly 61.8% of the entire November 11–21 drawdown, reclaiming the same Fibonacci level that acted as resistance during previous recovery attempts.

A sustained hold here opens the window for a move toward $100,000 in the coming sessions, FxPro's Alex Kuptsikevich said in an email.

"Bitcoin broke through the $91K mark, rising to 7-day highs and recovering to the classic Fibonacci retracement level of 61.8% of the collapse from November 11th to 21st," he said. "If the recovery does not lose momentum at these levels in the coming hours, we can expect a price rise to the $100K level soon and an attempt to break through an even more significant round level."

Some analysts have framed the 30% correction from the highs as a potential long-term entry point.

K33 Research pointed out that bitcoin has underperformed the Nasdaq in 70% of trading sessions over the past month — a deviation that has only appeared a handful of times since 2020, typically near local inflection points.

Deribit flow shows a similar tilt, with large traders leaning toward upside structures in the $100,000–$118,000 range while expressing skepticism that BTC can clear the $120,000 area without a clearer macro catalyst.

Elsewhere, Tether drew renewed scrutiny after S&P Global Ratings downgraded USDT to “weak,” the fifth tier on its scale, citing the stablecoin’s exposure to riskier asset classes, including BTC, gold, and corporate credit.

That came as the issuer disclosed its reserves now include 116 tonnes of gold — comparable to the national holdings of Hungary or Greece — reinforcing a trend of stablecoin operators leaning into alternative collateral mixes as supply continues to surge.

Altcoins remain sluggish but are beginning to reflect the improving risk tone as sentiment lifts from extreme fear and liquidity rotates out of defensive positioning.

Among majors, ether ETH$2.990,74 slipped 0.4% to $3,023 but remained up 7.7% over seven days. XRP fell 0.8% to $2.20 even as it outperformed on the weekly timeframe with more than 10% gains.

BNB added 0.3% on the day to $897. Solana dropped 2% to $140 after a strong weekly run, while Tron ticked 1.4% higher to $0.2803. Dogecoin slumped 2.5% to $0.1508. Cardano’s ADA lost 1.4% to $0.427.

Among notable movers outside the top 10, Zcash’s ZEC extended its reversal with an 8% drop in the past day, erasing part of the sector-leading rally it posted earlier this month.

Newcomer Monad’s MON slid 13% as speculative flows rotated out of high-beta names during the consolidation.