Bitcoin (BTC) has climbed back into positive territory for the year as its price continues to move higher after a steep selloff in October and November.
The largest cryptocurrency by market capitalization is currently trading at $92,500 U.S. and holding above the key support level of $90,000 U.S. after falling as low as $84,000 U.S.
The tentative recovery has BTC basically flat on the year, though slightly positive with a rise of 0.2% for 2025.
However, many analysts and traders aren’t ready to sound the “all clear” for Bitcoin just yet after the digital asset plunged more than 30% since mid-October.
Ethereum (ETH), the second largest crypto, is also on the mend and trading at $3,200 U.S., having moved back above the key level of $3,000 U.S.
Analysts say the latest rebound in crypto is largely due to rising expectations that the U.S. Federal Reserve will cut interest rates by 25-basis points on Dec. 10.
Futures traders now see an 87% chance that the U.S. central bank will lower interest rates at its December policy meeting.
Lower rates are supportive of risk assets such as stocks and cryptocurrencies, making them more attractive than lower-yielding assets.
