Bitcoin’s price stabilized near $91,000 following a recovery from the mid-$80,000 range last week. A significant factor behind this stabilization is renewed investment in the US spot Bitcoin ETF, indicating growing confidence among institutional investors. In recent days, millions of dollars have flowed into ETF funds, supporting a short-term upward price trend. However, trading activity has shown some cooling, causing Bitcoin to fluctuate within a narrow range between $90,000 and $92,000. Technical analysis points to critical support and resistance levels around $89,000 and $92,387, respectively, where market direction is likely to be determined. Current technical indicators reflect a balanced trend with a slight expectation of price increase.
On the economic front, uncertainty prevails ahead of the US Federal Reserve’s December meeting. Investors anticipate an interest rate cut announcement, which could increase US dollar liquidity and potentially benefit digital cryptocurrencies. Despite this, Bitcoin has experienced an approximate 11% decline over the past 30 days, highlighting ongoing volatility. Experts hold varied opinions on Bitcoin’s price outlook; some view the $80,000 support as crucial, while others see potential for a positive trend if the $92,387 level is surpassed. Additionally, some investors forecast Bitcoin reaching $100,000 before 2026, though these expectations remain uncertain.
The market will closely watch whether ETF investments continue and how the Federal Reserve presents its policies in the coming days. These factors could cause significant price fluctuations in Bitcoin, impacting the broader cryptocurrency market.
Source: binance
