Bitcoin reclaims $93k; will it surge to the $97k resistance level?

2025-12-4 12:46

The cryptocurrency market is showing signs of stability following days of heavy selling pressure. Bitcoin reclaimed the $93k level a few hours ago, adding 7% to its value in the last 24 hours.

The recent positive performance comes amid renewed bets that the Federal Reserve is nearing its first rate cut of the cycle.

Fed rate cut odds push BTC to $93k

Bitcoin, the leading cryptocurrency by market cap, dropped below the $84k level on Monday following a poor start to the week.

However, the cryptocurrency turned things around on Tuesday and has added 7% to its value in the last 24 hours.

Thanks to the recent rally, Bitcoin is now trading at $93,000 per coin.

The bullish performance comes amid renewed optimism of an interest rate cut by the Federal Reserve in its upcoming FOMC meeting on December 10.

Softer US data, cooling inflation signals, and weakening labor market indicators have shifted market expectations, with over 50% of traders now expecting the Fed to reduce its benchmark rate next week.

The shift in sentiment has reduced fear across risk assets, allowing Bitcoin to find a footing around the region where institutional buyers previously stepped in.

In addition to that, lower yields expected from the beginning of Quantitative Easing (QE) by the Fed will reduce pressure on risk assets.

This could allow Bitcoin and other major cryptocurrencies to also rally higher in the near to medium term.

If US data continues to weaken, Bitcoin’s recovery window widens.

Furthermore, following heavy outflows, stabilizing inflows help reduce downward momentum.

Spot Bitcoin ETFs recorded a net inflow of $58 million on Tuesday, suggesting that institutional investors are regaining interest in the crypto market. 

With derivatives wiped out in recent weeks and shorts built up, BTC is primed for short-covering rallies. The rallies could potentially allow Bitcoin to retest the $100k psychological level in the near term. 

These strong fundamentals support the switch in the weekly OB reaction, with a bullish movement expected to align with macro conditions easing.

Bitcoin could retest the $97k daily resistance

The BTC/USD daily chart is bearish and efficient as Bitcoin has added 7% to its value in the last 24 hours. The leading cryptocurrency is trading at $93k and could rally to $97k if the resistance level is overcome.

The technical indicators have improved, suggesting that the bulls are regaining control of the market. The RSI of 35 shows that the bears are still in control, but Bitcoin is no longer in the oversold region. The MACD lines are also within the bearish zone.

If the recovery continues, BTC could rally towards the $97k level over the coming hours or days. However, the resistance level above $93k remains strong. 

On the flipside, if the bears regain dominance, Bitcoin could retest the $83k support level in the near term.

The post Bitcoin reclaims $93k; will it surge to the $97k resistance level? appeared first on Invezz

origin »

Level Up Coin (LUC) на Currencies.ru

$ 0 (+0.68%)
Объем 24H $0
Изменеия 24h: 1.94 %, 7d: 12.29 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 996.923m LUC

level bitcoin hours 93k amid performance comes

Источник: invezz.com

level bitcoin → Результатов: 126


Bitcoin Nears Highs, But It May Not Be Ready for a Breakout; Here’s Why

Bitcoin has seen some incredible strength throughout the past few days, with each dip being aggressively absorbed by buyers This has allowed the crypto to rally past the $18,000 level and gain what appears to be a strong and stable foothold here Where it trends in the near-term should depend largely on its continued reaction to this level One analyst is noting that BTC does look like it wants to test its post-2017 highs of […]

2020-11-21 21:00


Analysts Watch Crucial Bitcoin Support as Altcoins Gain Momentum

Bitcoin has been inching lower throughout the past few days and weeks, with buyers and sellers both being unable to take control of its near-term trend This slight decline has come about following a period of immense strength and stability as it consolidated above $16,000 If it continues trading below this level, its recent $16,500 highs could mark a long-term top Where it trends next may depend on one key support level that an analyst […]

2020-11-15 01:00


Here are the Key Levels Ethereum Must Shatter to Kick Off a Bull Trend

Ethereum’s price has been closely tracking that of Bitcoin throughout the past few days, but this trend has shown some signs of breaking today While Bitcoin is pushing past its key resistance within the lower-$1,000 region, ETH is still stuck below its $360 resistance level If it is able to break these levels, it will then face a significant hurdle between $380 and $400 A continued inability to break above this level could do some […]

2020-10-9 23:00


Bitcoin Could Plunge to $8,100 if These Key Levels Fail to Hold

Bitcoin’s bulls and bears are currently engaged in a heated battle for control of $10,000, with this crucial level likely being the sole factor that determines its near-term outlook. Analysts are noting that the ultimate reaction to this level will likely provide BTC with serious guidance, as a failure to hold above it could spark a far-reaching downtrend BTC is also approaching a key technical level that bulls must try to defend ardently – its […]

2020-9-8 02:00


Bitcoin Prone to Seeing Downside as It Trades Below Key Level

Bitcoin and the aggregated crypto market are struggling to extend the mid-term uptrend that has driven them higher over the past few weeks This has come about as BTC pushes up against insurmountable resistance at $12,000 – a level that it has been rejected at on multiple occasions Analysts are now noting that it may require a daily close above $11,900 for it to see further upside that sends it past this price level There […]

2020-8-14 02:00


Bitcoin’s Highest Weekly Close Since Jan 2018 Coincides with Falling Inflow to Exchanges

Yet another weekend that saw Bitcoin jumping the $12,000 level. After breaking the key level of $10,000, now the largest cryptocurrency is working on another important level. Over the weekend, BTC went down to $11,500 only to start gaining momentum towards the end of the day to start yet another bullish week. And #Bitcoin has […]

2020-8-10 15:59


PlanB: Bitcoin Price Below S2F Model Value Is A ‘Rare’ Opportunity For BTC To $10,000 By EOY

Before breaking the record losing streak of 2014, that has BTC crashing to $6,515 level, Bitcoin went back above $7,000 and is still maintaining around that level. Since last week, Bitcoin price has lost 15% of its value, sinking to the lowest level in six months on concerns of a crackdown on crypto trading by […]

2019-11-26 20:06


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

BTC price steadies above $92K, but caution remains as Bitcoin ETFs break inflow streak

The Bitcoin price has stabilized above $92,000 after a period of notable fluctuations, with eyes now on the interplay between institutional flows and market sentiment. At press time, Bitcoin was trading at around $92,829, rebounding from recent lows near $83,800, while Bitcoin ETFs have shown a mixed performance, breaking a streak of consecutive inflows that […]

Why this analyst thinks Bitcoin’s return to $100k isn’t far away

Bitcoin could be preparing to turn a corner after a period of seasonal weakness, according to BTIG chief technical strategist Jonathan Krinsky. The world’s largest cryptocurrency has climbed steadily in recent sessions, and analysts suggest historical patterns may support further strength into the year-end.