Bitcoin price today: rises to $89k amid Fed cut bets, but remains rangebound
Bitcoin rose slightly on Monday, holding near the $89,000 level after a weekly loss, as broader markets showed improved risk sentiment amid strong expectations for Federal Reserve rate cuts in 2026.
The world’s largest cryptocurrency last traded $89,089.92 by 02:25 ET (07:25 GMT).
Bitcoin declined 2% last week, remaining in tight ranges amid thin liquidity.
Bitcoin has struggled to break decisively above the psychologically important $90,000 mark, with traders citing cooling demand from institutional vehicles and cautious positioning ahead of the year-end holiday period.
Market risk sentiment improved elsewhere. Gold prices surged to fresh all-time highs on Monday, driven by strong demand amid rising expectations that the Federal Reserve will cut interest rates next year after a softer-than-expected inflation print.
Global stock markets advanced, with Asian equities opening higher alongside U.S. futures, as investors anticipated improved liquidity and a potential year-end rally.
Analysts point to slowing ETF inflows and mixed sentiment around digital assets as factors keeping the market range-bound.
Hong Kong’s insurance regulator is proposing new rules that would allow insurers to channel capital into assets, including cryptocurrencies and infrastructure, in a move aimed at directing funds toward government-prioritised sectors, Bloomberg News reported.
Under the proposal, the Insurance Authority would impose a 100% risk charge on crypto assets, according to a Dec. 4 presentation seen by Bloomberg. Stablecoin investments would face risk charges based on the fiat currency to which they are pegged, the report said.
Crypto price today: altcoins remain subdued
Most altcoins also remained rangebound on Monday.
World no.2 crypto Ethereum rose 1.7% to $3,032.92.
World no. 3 crypto XRP was largely muted at $1.92.
Solana and Cardano edged slightly higher, while Polygon fell 2.1%.
Among meme tokens, both Dogecoin and $TRUMP were largely unchanged.
Source: Investing.com
