Bitcoin rose above $91,000 on Wednesday after a turbulent week that saw it drop near $81,000. The world’s largest cryptocurrency climbed 4.5% over the past 24 hours to trade near $91,755 as of 10:50 p.m. ET. The price move reflected renewed buying interest and an improvement in broader market sentiment after several days of losses.
"Bitcoin bouncing above $90K reflects a classic oversold snapback; after a brutal drawdown, buyers are stepping in," Vincent Liu, CIO of Kronos Research, said in the statement. "The broader risk-on mood, fueled by an 80% chance of a Fed cut in December, is giving markets the push they needed to stabilize and reclaim momentum."
At the time of writing, Bitcoin is trading at $91,600. The recovery reinforces a return of confidence among traders who remain cautious about macroeconomic uncertainty and institutional positioning.
Analysts point to macro factors and liquidity metrics
CME Group’s FedWatch tool indicates an 85% probability that the Federal Reserve will announce an interest rate cut in December. Analysts have highlighted this expectation as one of the strongest market drivers this week. Fed Chair Jerome Powell previously said another cut in December is uncertain, which has contributed to volatility and investor hesitation across both crypto and equity markets.
HashKey Group Chief Analyst Jeffrey Ding said the latest rebound mainly reflects a "natural rebound after the recent sharp pullback," not a response to a single news event.
"Market structure remains healthy, liquidity is improving, and long-term fundamentals are intact," Ding said.
Ethereum followed Bitcoin’s lead, trading up 2.8% to $3,038. XRP gained 1.6% to $2.22, BNB advanced 3.9% to $897.9, and Solana rose 2.9% to $143.26.
Institutional demand rises amid market recovery
Recent regulatory filings spotlight additional strength in Wall Street’s exposure to Bitcoin. BlackRock increased its holdings in its own spot Bitcoin ETF, reflecting continued institutional interest. The Strategic Income Opportunities Portfolio held 2,397,423 shares of BlackRock’s iShares Bitcoin Trust (IBIT), valued at $155.8 million as of September 30, a 14% increase from June levels.
BlackRock continues to accumulate BTC in its in-house funds. In a filing today, BlackRock Strategic Income Opportunities Portfolio reported owning 2,397,423 shares of IBIT valued at $155.8 million as of September 30.
— MacroScope (@MacroScope17) November 26, 2025
That's a 14% increase from 2,096,447 shares reported as of…
JPMorgan also proposed a new structured note linked to IBIT, offering institutional investors a way to gain exposure to Bitcoin’s future price. The product pays a fixed return if the ETF price meets set conditions next year, while offering partial principal protection if losses are limited. JPMorgan’s prospectus warned that investors “should be willing to lose a significant portion or all of their principal amount at maturity.”
The note demonstrates how traditional banks have grown more comfortable providing crypto-linked products despite prior skepticism. Morgan Stanley has launched similar instruments, including a two-year autocallable note based on IBIT performance.
Broader markets stabilize as equities climb
Rick Maeda, research analyst at Presto Research, said traders are monitoring ETF flows and derivatives data to determine whether the current recovery can endure. "With excess long positioning cleared and macro turning supportive, crypto had room for a relief move that aligned with the rebound in equities," Maeda said.
Jeff Ko, chief analyst at CoinEx, echoed that view.
"Zooming out, broader risk sentiment has actually remained relatively stable," Ko said. "U.S. equities are at all-time highs, inducing risk-off pressure is limited. Expectations for a December 10 rate cut keep climbing, pointing to a more liquidity-friendly environment ahead."
U.S. stocks closed higher on Wednesday in their strongest four-day run since May. The Dow Jones Industrial Average gained 0.67%, the Nasdaq Composite rose 0.82%, and the S&P 500 added 0.69%.
Bitcoin outlook into December
Bitcoin has rebounded nearly 13% from last week’s lows but remains far below its October record high of $126,080. Analysts expect volatility to persist as traders assess whether renewed institutional participation and potential rate cuts can maintain upward momentum.
The next key levels to watch are $93,000 on the upside and $86,000 on the downside. Market participants remain focused on ETF inflows, funding rates, and macro signals that could determine the direction of the next major move.
For now, Bitcoin holds steady above $91,000, supported by optimism about a softer Fed stance and a cautious re-entry of institutional demand.
Oleksii Shumak
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