Crypto Markets Today: Bitcoin Reclaims $92K as Fed Rate-Cut Expectations Lift Sentiment

Crypto Markets Today: Bitcoin Reclaims $92K as Fed Rate-Cut Expectations Lift Sentiment

08 Dec Crypto News

The crypto market exhibited signs of optimism during the Asia session on Monday, with bitcoin BTC$91,921.18 rising above $92,000 having spent the weekend trapped in a tight range below $90,000.

The largest cryptocurrency has now reversed Friday’s sell-off and is within striking distance of last week’s high of $94,200.

U.S. equity index futures also posted a gain from Sunday evening’s open, rising by around 0.2% as the market anticipated a Federal Reserve interest-rate cut on Wednesday, with probability of a 25 basis point cut standing at around 87%, according to CME data.

While bitcoin and ether ETH$3,142.18 are up 3%-4% over the past 24 hours, the altcoin market remains weak with a lack of speculative catalysts driving the action.

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