Happycoin.club – The price of Bitcoin (BTC) surpassed the $91,300 mark over the last 24 hours, propelled by an influx of roughly $100 billion in capital entering the market. This injection boosted the premier cryptocurrency’s total valuation from $1.73 trillion to $1.83 trillion, as reported by CoinMarketCap data.
Bitcoin’s daily low was noted near $86,300, resulting in a gain of approximately $5,000. Trading volumes also surged by 21.71% to reach $72.9 billion, signaling a resurgence of activity following several weeks of downtrend.
Bitcoin’s Market Capitalization in 24 Hours. Source: CoinMarketCap
This rebound occurred as Bitcoin attempted to recoup losses accumulated during a preceding 30-day decline of 19.78%, suggesting that the recent dip was more a technical correction than a fundamental reversal of the broader trend. A combination of macroeconomic sentiment, on-chain accumulation, and momentum trading is shaping a current uptrend.
Enhanced investor optimism regarding a potential softening stance from the Federal Reserve has created a more favorable environment for risk assets. Market participants are now anticipating that the upcoming December FOMC meeting outcome will include an interest rate cut.
On-chain metrics confirm that significant holders capitalized on the recent pullback to acquire more Bitcoin. Over the past week, crypto “whales” accumulated an estimated 30,000 BTC, valued at $2.7 billion, even as price momentum seemed to wane. Historically, such whale accumulation during periods of decline has served as a signal of trend stabilization, and in some instances, a reversal point.
From a technical perspective, the rally was initiated by oversold conditions, which triggered short-covering and algorithmic market entries once BTC reclaimed pivotal intraday price levels. Nevertheless, the underlying market structure remains vulnerable.
A crucial test will be BTC’s ability to sustain a position above $91,000; succeeding at this level would likely attract further capital inflows and reinforce the narrative of recovering structural demand following prior capitulation. Failing to hold these levels, especially if juxtaposed with hawkish commentary from the Fed, could swiftly initiate a bearish move.
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