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Bitcoin climbed on Monday, recovering from last week’s pullback as traders maintained strong expectations that the U.S. Federal Reserve will cut interest rates at this week’s policy meeting.
The world’s largest cryptocurrency traded 2.2% higher at $91,398.6 by 02:08 ET (07:08 GMT), stabilizing after briefly sliding below $84,000 last week — a move that followed sharp losses through November and kept sentiment fragile.
Fed rate cut expectations support Bitcoin
Market confidence in a 25-basis-point Fed cut remained intact, with futures pricing in an 87% probability of easing at the December 10 meeting. Softer U.S. economic data and cooling inflation have reinforced the case for policy loosening.
Friday’s release of the Fed’s preferred inflation gauge — the core PCE index — rose 0.2% month-on-month, while the annual rate eased to 2.8%, consistent with inflation gradually heading toward target.
Lower interest rates tend to weaken the dollar and improve liquidity conditions — dynamics that typically benefit Bitcoin and other non-yielding risk assets. Still, caution persisted as mixed signals from Fed officials raised uncertainty over the pace and scale of easing expected in 2026.
Bitcoin’s broader uptrend began accelerating late in 2024 as expectations for a dovish Fed pivot strengthened. Traders will now look for confirmation in Wednesday’s Fed statement and Chair Jerome Powell’s remarks.
Crypto price today: Altcoins move higher but remain rangebound
Most major altcoins traded higher alongside Bitcoin, though movements remained contained:
- Ethereum rose 3% to $3,127.92
- XRP added 2.5% to $2.08
- Solana and Cardano each gained 2%
- Polygon was little changed
- Dogecoin rose 1.5%, while $TRUMP dipped 0.5%
Cautious sentiment across crypto markets suggests traders are waiting for clearer policy signals from the Fed before committing to stronger directional positions.
