Crypto News Today: BTC Loops Back To $90k, ETH Retests $3.2k Support

Bitcoin's price has shown signs of recovery, reaching approximately $92,000, but significant investors, known as whales, are closing long positions, indicating a potential bearish sentiment despite the recent uptick. This trend raises concerns about the sustainability of the price increase and the overall market stability.

Revolut has integrated with Trust Wallet to enable users in the European Economic Area (EEA) to purchase cryptocurrencies such as BTC, ETH, SOL, USDC, and USDT directly into self-custody wallets, with options for zero fees under the Markets in Crypto-Assets (MiCA) regulation. This integration aims to simplify the buying process for users seeking to manage their digital assets independently.

Bitcoin (BTC) and Nasdaq futures have experienced a decline as Oracle's earnings have reignited concerns about the sustainability of the AI-driven market rally. This downturn has raised fears of a potential bubble in the tech sector, impacting investor sentiment across the cryptocurrency landscape.

The cryptocurrency market experienced a significant downturn following the Federal Reserve's third consecutive 25 basis point interest rate cut, which was anticipated by many. Despite initial price surges for Bitcoin, Ether, XRP, and Solana, the momentum quickly reversed, leading to notable declines in their values. Bitcoin fell over 5%, while Ether dropped more than 8.5% at one point.

The Federal Reserve's recent FOMC meeting highlighted Jerome Powell's hawkish stance, influencing market sentiment across cryptocurrency assets. Powell's remarks set the tone for evaluating the implications of the Fed's decisions on the crypto market, particularly in light of anticipated interest rate adjustments.

The cryptocurrency market has faced a significant downturn, with Bitcoin (BTC) and Ethereum (ETH) giving back recent gains, resulting in the liquidation of $370 million in bullish bets. This decline follows a brief period of optimism, highlighting the volatility inherent in the crypto market.

Crypto prices experienced a pullback on December 11, following a brief bounce after the Federal Reserve's recent rate cut. The total cryptocurrency market capitalization decreased by 3% to $3.1 trillion, with Bitcoin trading at $89,975, down 2.7% from previous levels. Other major cryptocurrencies like XRP, UNI, and DOT also retraced after the initial surge.

Bitcoin has stabilized above the $92,000 mark after a rebound from a dip towards $90,000, providing temporary relief for bulls. However, market sentiment remains largely bearish, with traders anticipating further declines unless a significant shift in momentum occurs ahead of the Federal Reserve's upcoming meeting.