Bitcoin Nears $92,000 Ahead Of Key Fed Decision – Analysts See Potential For Bull Run, But ‘Do-Or-Die’ Risks Loom

• Analysts remain optimistic, predicting Bitcoin could reach $165,000, but have warned of a critical support range at $84,000.
• Altcoins rallied sharply, but retail sentiment remains mixed across tokens on Stocktwits. 
• Bitcoin experienced around $125 million in liquidations.

Bitcoin climbed above $91,900 in early trade on Monday, extending a market-wide rebound that pushed the total crypto market cap to $3.13 trillion, an increase of over 3% in the last 24 hours. This comes as traders are growing increasingly confident of a rate cut by the US Federal Reserve this week, which has led to a decline in real yields as well. 

Based on CME's FedWatch model, there is a near 87.4% chance that the Federal Reserve will cut rates by 25 bps at its December 9-10 meeting. This increase in market certainty regarding a rate cut has been driven by weaker macro conditions and an increasingly dovish tone from Fed officials.

While message volume remains low, retail sentiment for Bitcoin on Stocktwits is in the ‘bullish’ territory. 

Altcoins In The Green

Ethereum (ETH) is leading the altcoin market with a 11.1% rise in the last 24 hours. This strengthens its position as the leader in the large-cap altcoin basket. XRP is moving more slowly, up 2.7% in the same time frame, but remains aligned with the rest of the market. The retail sentiment for Ethereum and XRP has remained ‘bullish’ over the past day on Stocktwits. 

Dogecoin (DOGE) and Solana (SOL) are both trading higher, with DOGE up nearly 6% and Solana nearing 10% in the last 24 hours. The retail sentiment for DOGE is in ‘bearish’ territory; however, SOL’s sentiment is ‘bullish’. 

Similarly, altcoins like Binance Coin (BNB) are up 10%, Cardano (ADA) is up over 12.5%, and TRON (TRX) is up 3.3%. All three coins are seeing ‘bearish’ retail sentiment on Stocktwits.

Analysts Hopeful For A New BTC High

Crypto analyst Quienten believes that BTC can attain its November 30th estimated Fair Value price of $165,000 this bull run. However, Bloomberg Intelligence senior commodity strategist Mike McGlone suggested on X that Bitcoin is approaching a critical inflection point, calling the $94,000 to $84,000 range a “do-or-die” zone that may determine its next major move. 

Liquidity Watch

The crypto market is rising mainly as a rebound from a sharp earlier sell-off. After a long stretch of volatility, liquidity has improved, and sentiment has steadied, but there is still no new bullish catalyst driving the recovery. 

BTC saw around $125 million in liquidations over the last 24 hours, indicating a concerted unwind in the majors. In the broader market. ETH dominated with $193 million in liquidity, while SOL and other altcoins saw lighter but still significant forced selling activity.

Read also: Trump Greenlights ‘Tiny Cars’ For US Production After Signaling Support Earlier This Week

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