Bitcoin price rebounded sharply, climbing above $92,000 following a 7% surge from lows near $86,000. After Monday’s volatility, global markets appear calm, yet investors remain cautious. The current stability of Bitcoin is in contrast with the underlying uncertainty that is fueled by the upcoming Federal Reserve policy meeting.
Bitcoin had a positive trend followed by other significant cryptocurrencies. Ether price regained the value of $3,000, and XRP stood at 5% growth. Solana also gained, which correlates with the overall forces in the crypto market, which increased by 3% within the last 24 hours.
The market mood is now centered on the December 10 rate decision by the Fed. Traders are closely monitoring with anticipation of an 89% cut in the rate. This is further compounded by the secrecy of the low-visibility Federal Open Market Committee (FOMC) meeting and the change in leadership within the Fed.
Also, the U.S. Personal Consumption Expenditures (PCE) data, which is due on December 5, may determine the direction of the market in the near future. Cryptocurrency markets can be highly sensitive to policy signals and inflation rates.
Crypto ETF Flows Reveal Bullish Market Sentiment
Bitcoin funds had good inflows in the previous session. Spot BTC ETFs contributed 2,411 BTC within a single day, which is approximately equal to 222 million.
The weekly flows were also positive at 1,535 BTC or approximately at the value of $141 million. Such figures indicate a consistent demand in spite of the recent market fluctuations.
Ether products went in the reverse direction. ETH ETFs have left the sector with a sudden one-day withdrawal of 36,108 ETH, and that is around $110 million. The seven-day picture was also relatively positive, but with a slight net intake of 953 ETH valued at approximately 2.9 million. This was a contrast to show a lack of equal investor confidence in Ethereum funds.
Solana ETFs have recorded a significant performance. One-day flows amounted to 280,620 SOL, and it contributed to the value of almost $39 million.
The weekly flows also reflected strong movements, whereby 271,398 SOL came into the products. These numbers marked the increased interest in the development of the ecosystem of Solana.
Analyst Predicts Bitcoin Price Could Rally to the $100K Mark
According to a crypto analyst, the Bitcoin price is currently testing a key resistance zone following its recent U-turn. He observes that the $93,000 to $94,000 segment is a major challenge to the market.
A clear move above this zone could open the path toward the $100,000 region as a long-term BTC projection remains bullish.
Analyst also cautions that failure at this point can turn the tide. In case the selling pressure moves up, then the price of Bitcoin might fall to the range of $88,000 to $89,000 as one of the support levels. His chart reflects both the cases with possible breakout and pullback paths indicated.
Bitcoin price climbed to around $92,462 following a 5% recovery in the last 24 hours.
The MACD line moved over the signal line, indicating the construction of a bullish movement. The histogram shifted to the positive side, and it signified the reinforcement of strong upward pressure.
Source: BTC/USDT 4-hour chart: TradingviewThe RSI was at around 62, indicating moderate buying conditions but not in the overbought area. This reading suggested that there could be more upside given that the demand does not decrease.
Source: https://coingape.com/markets/bitcoin-price-prediction-will-next-bull-run-push-btc-to-100000/
