Bitcoin Extends Recovery On Fed Cut Hopes – Grayscale’s XRP, Dogecoin ETFs Debut Today

• After dipping as low as $80,500 last week, Bitcoin rebounded on Friday after Federal Reserve Bank of New York President John Williams said there is room for further adjustment.
• According to CME Group’s FedWatch tool, over 71% traders have priced in a rate cut in the next Federal Open Market Committee meeting on December 9 and 10.
• The New York Stock Exchange has approved the listing of Grayscale’s Dogecoin and XRP exchange-traded funds, positioning them for a launch on Monday.

Bitcoin and other major cryptocurrencies ticked higher in early trading on Monday amid optimism surrounding another rate cut by the U.S. central bank.

The apex cryptocurrency rose 0.9% to $86,791.69 at the time of writing, according to CoinMarketCap data, while Ethereum was up 0.5% to $2,826.43 and BNB gained 1.4% to $853.42. Among other tokens, Solana gained 0.5%, and Dogecoin rose 2.2%.

Fed Rate Cuts Odd Rise

After dipping as low as $80,500 last week, Bitcoin rebounded on Friday after Federal Reserve Bank of New York President John Williams said there is room for further adjustment.

Williams stated that while it is necessary to bring inflation back to the Federal Reserve’s long-term goal of 2%, it is equally important to do so without creating undue risks to the goal of maximum employment.

“Therefore, I still see room for a further adjustment in the near term to the target range for the federal funds rate to move the stance of policy closer to the range of neutral, thereby maintaining the balance between the achievement of our two goals,” he said.

According to CME Group’s FedWatch tool, over 71% traders have priced in a rate cut in the next Federal Open Market Committee meeting on December 9 and 10, compared with roughly 42% a week ago. Investors will be keenly watching the September retail inflation data, scheduled for Tuesday.

What Are Stocktwits Users Thinking?

Retail sentiment on Stocktwits about Bitcoin was in the ‘neutral’ territory at the time of writing.

One bullish trader wrote that Bitcoin could reach $140,000 by the beginning of 2026.

Grayscale XRP, Dogecoin ETFs To Go Live On Monday

The New York Stock Exchange has approved the listing of Grayscale’s Dogecoin and XRP exchange-traded funds, positioning them for a launch on Monday. “Grayscale Dogecoin ETF $GDOG approved for listing on NYSE, scheduled to begin trading Monday. Their XRP spot is also launching on Monday,” Bloomberg ETF analyst Eric Balchunas said on X.

November has seen the launch of several XRP ETFs, including Bitwise, 21Shares, CoinShares, and Canary Capital. Despite a rise in the investor pool, XRP has fallen by over 19% over the past month amid broader declines in cryptocurrency markets.

Also See: Woodside Stock In Focus After Australia Reportedly Cleared A Strike Vote At Key LNG Facility

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