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Bitcoin held mostly steady on Thursday, consolidating after a powerful rebound that lifted the cryptocurrency back above the $93,000 mark on Wednesday, supported by improving regulatory sentiment in the U.S. and rising expectations of a Federal Reserve rate cut next week.
The world’s largest digital asset inched 0.3% lower to $93,140.6 by 01:56 ET (06:56 GMT), pausing after a volatile week that saw prices briefly slide toward $84,000.
Regulatory developments restore confidence
The recovery has been fueled by positive regulatory signals in the U.S.
Comments from SEC Chair Paul Atkins, who said the agency plans to introduce an “innovation exemption” designed for digital-asset firms, helped ease concerns around restrictive oversight. The proposal aims to modernize rules around issuance, custody, and trading — a move welcomed by the crypto industry.
Adding further momentum, global asset-management giant Vanguard reversed its long-standing ban on crypto ETFs. It will now allow clients to trade third-party crypto ETFs and mutual funds on its platform, signaling rising mainstream acceptance of crypto investment products and opening the door to fresh institutional inflows.
Macro tailwinds: Fed cut bets and liquidity boost
Broader risk sentiment has been supported by growing conviction that the Federal Reserve will lower interest rates at next week’s policy meeting.
Market pricing indicates a strong probability of a 25-basis-point cut, a shift that generally improves liquidity conditions and boosts appetite for risk-sensitive assets like Bitcoin.
Bitcoin has also benefited from the Fed’s decision to halt its quantitative tightening program on Dec. 1 and resume large-scale repo operations — effectively adding liquidity to the financial system.
Still, the dramatic whipsaw from below $84K to above $93K highlights how fragile the market structure remains, with forced liquidations and thin liquidity amplifying volatility.
Crypto price today: altcoins mixed; Ether jumps over 4%
Altcoins were mostly firmer on Thursday, though trading ranges stayed tight amid lingering caution.
- Ethereum (ETH) surged 4.6% to $3,210.14
- XRP slipped 0.6% to $2.18
- Solana gained 1%
- Cardano rose 2%
- Polygon dipped 0.9%
Among meme tokens, Dogecoin and $TRUMP were little changed.
