This morning, the crypto world finally welcomed a strong rebound! Bitcoin has forcefully returned to the $90,000 mark, currently reported around $90,650, with a 24-hour rise of 3.62%; Ethereum has broken through the key resistance of $3,000, with a daily increase of 3.01% reported at $3,040. Under the general uptrend of mainstream tokens, XRP, Solana, and others have all risen over 5%. This rebound is by no means coincidental, but rather the result of multiple pieces of Favourable Information resonating together.
The core catalyst is undoubtedly the rising expectations of interest rate cuts by the Federal Reserve. CME data shows that the probability of a 25 basis point rate cut in December has surged to 84.9%, and this expectation of macro liquidity easing has directly boosted confidence in risk assets. Meanwhile, there is a strong demand for recovery from the oversold technical condition, and Bitcoin has found strong support around $80,000, forming a higher low structure, while the RSI indicator has also rebounded from the oversold area. However, institutional movements remain divergent, with BlackRock's IBIT seeing an outflow rate of 63% this month, while Texas has counter-trended by purchasing $10 million in Bitcoin ETFs.