Bitcoin Surges Back Above Ninety Thousand Dollars Ahead of Thanksgiving
Bitcoin made a strong comeback in the global crypto market as it climbed back above the ninety thousand dollar mark breaking away from its usual pre Thanksgiving trend. Historically the day before Thanksgiving has been a weak trading session for the cryptocurrency with most years showing declines. This year however the market sentiment shifted as buyers stepped in after a week of downward pressure that had pushed Bitcoin toward its November lows.
The recovery comes at a time when investors are watching economic indicators closely. Expectations of a possible interest rate cut by the United States Federal Reserve helped improve confidence across risk assets including digital currencies. After several days of selling pressure the dip attracted buyers who viewed the lower levels as an opportunity to re enter the market. This renewed demand allowed Bitcoin to retake the crucial ninety thousand dollar level giving traders a sense of relief ahead of the holiday.
Despite the impressive rebound analysts remain cautious. Many believe that the region between ninety thousand and the mid ninety thousand range could act as a strong resistance zone unless new catalysts emerge. Others note that institutional participation in the market remains muted and ongoing uncertainty around interest rates and liquidity continues to weigh on broader sentiment. These factors may limit how far the current recovery can extend without stronger fundamental support.
0 Comments