Bitcoin held steady above $91,000 on Friday, extending a Thanksgiving-week rebound as traders increased wagers on a Federal Reserve interest-rate cut in December. Prices moved within a tight range through the shortened U.S. session, reflecting improving risk sentiment tied to softer policy expectations.
Price action
Major data providers showed Bitcoin trading close to $91,000 after the U.S. equity market’s early close at 1 p.m. ET on Friday, with intraday moves largely contained between the low $90,000s and just under $93,000. Earlier in the day, the cryptocurrency briefly reclaimed the $93,000 level before easing toward the low $92,000s.
Rate-cut expectations intensify
Odds of a December policy move continued to firm. As of Friday, CME’s FedWatch Tool indicated an implied 84.9% probability of a rate cut at the Federal Open Market Committee meeting scheduled for December 9–10, 2025. Analysts at JPMorgan have also raised the likelihood of a cut, adding to the tailwind for risk assets, including cryptocurrencies.
Lower interest rates typically support speculative assets by reducing funding costs and improving liquidity conditions, a dynamic that has historically benefited Bitcoin during easing cycles.
Key factors to watch
- Spot Bitcoin ETF flows and net inflows/outflows as a gauge of institutional demand.
- Derivatives positioning, including funding rates and open interest, for signs of sustained momentum.
- Technical levels, with traders highlighting resistance in the $92,000–$95,000 zone as the next hurdle.
- Upcoming U.S. macro data and Fed communications ahead of the December FOMC meeting.