Why’s the Crypto Market Up Today as Bitcoin Attempts $90K Again

• Bitcoin is pushing towards the $90K mark, buoyed by a $221M whale purchase.
• Citi’s bullish forecast for Bitcoin predicts a rise to $180K within a year.
• The crypto market is up 1.98%, with altcoins like Ethereum and XRP also seeing significant gains.

The crypto market is showing signs of recovery today, rebounding from a week of weakness as Bitcoin leads a broad upside move. Improved sentiment around institutional buying, ETF flows, and regulatory progress in the U.S. is helping prices stabilize and push higher.

Bitcoin Market Rebound After Weekly Decline

The total crypto market is up 1.98% over the past 24 hours, reversing a 7-day decline of 2.64%. The bounce comes after several days of cautious trading driven by macro uncertainty and profit-taking following October highs.

Bitcoin is setting the tone for the recovery, with buyers stepping in aggressively after yesterday’s dip. Specifically, Bitcoin is up 1.59% in the past 24 hours, trading around $88,346 at the time of writing. The asset briefly touched $89,339 today after falling to $84,500 yesterday. 

The rebound suggests buyers are defending key levels after a week of steady declines.

Whale Activity Fuels Bitcoin’s Surge

On-chain data shared by Lookonchain shows resumed whale activity. According to the tracker, a single entity accumulated 2,509 BTC worth roughly $221 million over a 14-hour period.

The Bitcoin was transferred from FalconX-linked wallets into three newly created wallets, which Lookonchain believes belong to the same whale. This accumulation is a bullish signal, especially during periods of market weakness.

Citi and Bernstein Back The Momentum

Adding to the positive sentiment, Citigroup outlined optimistic 12-month forecasts for Bitcoin and Ethereum on Friday. Citi set a base-case target of $143,000 for Bitcoin and noted that easing regulatory pressure could unlock fresh institutional inflows.

Under a bullish scenario, Citi sees Bitcoin climbing as high as $189,000. Meanwhile, a bearish case still places downside near $78,000.

Earlier, brokerage firm Bernstein argued that Bitcoin has moved beyond its traditional four-year cycle. The firm pointed out that despite recent pullbacks, ETF outflows accounted for less than 5% of total holdings, signaling strong investor conviction. 

Accordingly, Bernstein raised its 2026 Bitcoin target to $150,000 and expects the current cycle to peak near $200,000 in 2027.

Regulatory Momentum Lifts Market Confidence

Regulatory developments in the U.S. are also supporting today’s rally. David Sacks, the White House adviser for AI and digital assets, confirmed that the Senate will begin marking up the Digital Asset Market Clarity Act in January 2026.

The bill, which already passed the House with bipartisan support, aims to clearly define oversight roles between the SEC and CFTC. 

Market participants see this as a major step toward long-awaited regulatory clarity, which could encourage more profound institutional participation across crypto markets.

Related: Crypto Czar David Sacks Confirms Clarity Act Markup for January 2026

Altcoins Join the Recovery as XRP and ETH Climb

Altcoins are following Bitcoin higher. Ethereum is trading in the green, briefly hitting the $3,000 threshold today after dipping below $2,900 yesterday. The rebound suggests institutional optimism reflected in Citi’s outlook.

XRP has also rebounded strongly to $1.91, up from a recent low of $1.77. Its recovery is being fueled by continued momentum in XRP ETFs. XRP ETFs recorded $13 million in inflows at the close of trading yesterday. 

This latest investment brings total inflows to $1.07 billion and total assets under management to $1.21 billion.

Bigger Picture: BTC in $200K in 3 Months?

Ultimately, today’s market rebound reflects a mix of dip-buying, improving regulatory expectations, and confidence from large investors. While macro uncertainty has not disappeared, Bitcoin’s attempt to reclaim the $90,000 level suggests the crypto market may be trying to reestablish bullish momentum after a shaky week.

Amid this, Arthur Hayes says Bitcoin could hit $200,000 within three months as investors wake up to what he sees as stealth money printing by the Federal Reserve.

In a new essay, the Maelstrom CIO argues the Fed’s “Reserve Management Purchases” — $40 billion a month in government debt buying — is effectively quantitative easing under a new name. Once markets realize RMP creates new money just like QE, Hayes expects Bitcoin to surge.

He believes BTC will stay rangebound between $80,000–$100,000 until investors catch on, then reclaim $124,000 and rally toward $200,000 by March, when expectations for Fed liquidity peak. After that, he expects a pullback, but with prices remaining well above $124,000.

Related: Bitcoin Jumps to $88K as Hayes Says a Weaker Yen Will Drive Crypto Adoption