Cryptocurrency market grows ahead of Fed decision: Bitcoin close to $90K
The cryptocurrency market continues to recover ahead of a key decision by the US Federal Reserve. Amid expectations of a Fed rate cut in mid-December, the fear and greed index rose, indicating moderate optimism among participants.
Main market movements
Bitcoin is trading near $89.947, although it has experienced a slight decline of 0.79% over the past 24 hours. However, the weekly increase remains positive at about 6% over seven days. Analysts expect a “Santa rally” in December, with the critical resistance level located in the range of $94-95 thousand, overcoming which could open the way to the historical mark of $100,000.
Ethereum showed even stronger dynamics, adding over 3% and trading around $3,130. The second largest cryptocurrency by capitalization has received support from the development of the decentralized finance ecosystem and recent network upgrades. Memcoins also showed growth: Dogecoin grew by 5%, Shiba Inu by 2.6%.
Trading volumes and market capitalization
The total trading volume reached $111 billion, and the total capitalization of the cryptocurrency market rose to $3.2 trillion, adding more than 2% per day. These indicators reflect the revival of participants against the backdrop of positive macroeconomic signals.
Key growth drivers
Main factors supporting the market:
Expectations for the Fed to cut the Fed rate by 25 basis points at its meeting on December 10
Continuing influx of institutional investment into Bitcoin
Infrastructure expansion (spot and futures ETFs, banking services)
Positive trend against the backdrop of the “Santa rally” at the end of the year
News highlights
Bitcoin is trading at $89.947 with a weekly growth of +6%
Ethereum rose 3% to $3,130, outperforming BTC in short-term dynamics
Total market capitalization reached $3.2 trillion with a daily increase of +2%
The Fed decision on December 10 will be a key catalyst for further movement
Analysts predict potential growth of Bitcoin to the $100,000 mark if the level of $94–95 thousand is broken.
Volatility remains typical for December, but the overall mood is optimistic
Disclaimer: The information is for informational purposes only and under no circumstances constitutes an individual investment recommendation. The contents of this article are based on a summary of publicly available information and should not be used as a basis for investment decisions.
The crypto market isn't just about numbers—it's a complex ecosystem where politics, technology, and economics intertwine. In my news coverage, I strive not merely to recount events, but to analyze their real impact on the market. My goal is to make cryptocurrency news clear, accessible, and objective.
