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Bitcoin stabilized on Friday after climbing back above the $90,000 level earlier this week, buoyed by growing expectations of an imminent interest-rate cut by the U.S. Federal Reserve and speculation over a potential leadership shift at the central bank.
By 01:32 ET (06:32 GMT), the world’s largest cryptocurrency was trading largely flat at $91,202.9, having recovered strongly from last Friday’s dip toward $80,000 — its lowest level since April.
Bitcoin was on track for a weekly gain of nearly 8%, snapping a four-week losing streak as institutional inflows strengthened demand.
Fed Rate-Cut Bets Surge, Powering Bitcoin’s Recovery
The coin’s rebound has closely mirrored a sharp rise in market expectations for a 25-basis-point Fed cut at the December 9–10 meeting.
According to CME’s FedWatch tool, the probability of a December cut has surged to 87%, up from 39% just one week earlier.
Lower interest rates typically support “risk assets” like Bitcoin by improving liquidity conditions and encouraging capital to flow toward higher-return segments of the market.
Speculation Over New Fed Chair Adds to Bullish Tone
Investor sentiment was further boosted by growing speculation that Kevin Hassett, a White House economic adviser seen as more dovish than current Fed leadership, could replace Jerome Powell when his term ends in 2026.
Hassett is widely viewed as supportive of more aggressive rate reductions, potentially paving the way for a looser monetary policy environment — something that markets see as positive for Bitcoin and other digital assets.
Caution Lingers Amid Mixed U.S. Data
Despite the optimism, some investors remain wary.
Persistently sticky inflation and uneven U.S. economic indicators have raised questions about how aggressively the Fed can ease policy, leading to uncertainty over whether the current Bitcoin rebound marks the start of a lasting rally or just a short-lived bounce.
Altcoins Trade Mixed in Tight Ranges
Most major altcoins mirrored Bitcoin’s muted tone on Friday:
- Ethereum (ETH) slipped 0.5% to $3,013.92
- XRP held steady at $2.21
- Solana drifted slightly lower
- Cardano declined 2.5%
- Polygon lost 1.2%
Among meme tokens, Dogecoin and $TRUMP each fell nearly 3%.
