Last night's surge in BTC was largely driven by macroeconomic factors and synchronized institutional behavior.
Short-term market sentiment mainly stems from strong expectations for interest rate cuts before the Federal Reserve meeting—the market has priced in a 25 basis point rate cut on Wednesday (December 10), which will further stimulate risk assets.
At the same time, institutions significantly increased their positions in December, with whales absorbing much more than the selling pressure from retail investors, pushing BTC prices close to $95,000.
The attitude of traditional finance is also accelerating its shift: banks are actively pursuing BTC credit business, and brokerage firms are reopening channels for crypto ETFs, creating a cumulative effect that is prompting the market to begin pricing in potential positives early.
BTC
89,214.91
-1.28%