Bitcoin Climbs Above $93,000

2025-12-03 03:02 By Jam Kaimo Samonte 1 min. read

Bitcoin surged back above $93,000 on Wednesday, rebounding sharply after briefly dipping below $84,000 at the start of the month.

The rally reflected a return of risk appetite, supported by expectations of further US Federal Reserve rate cuts.

Markets currently assign roughly an 89% probability to a 25 basis point Fed cut next week, with about 90 basis points of total easing priced in for 2026.

Dovish sentiment was further reinforced by speculation that White House economic adviser Kevin Hassett could be nominated as the next Fed chair, given his support for faster rate reductions.

Gains were also bolstered by positive industry developments, including US SEC Chairman Paul Atkins signaling plans for an “innovation exemption” for digital asset companies and Vanguard Group announcing that ETFs and mutual funds primarily holding cryptocurrencies will be tradable on its platform.



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Bitcoin Rebounds
Bitcoin rose to around $65,000 in mid-June, its highest level in two weeks, rebounding from recent lows that saw it fall to as low as $59,000, supported by improved risk sentiment following reports that the US and Iran had reached a peace deal. Both countries said they had agreed to end the nearly four-month conflict and reopen the Strait of Hormuz, with the agreement set to be signed later this week. Earlier this month, Bitcoin came under selling pressure, sliding to its lowest level since October 2024 after Strategy Inc., one of the largest corporate Bitcoin holders and widely viewed as a proxy for the cryptocurrency under its digital asset treasury model, sold part of its holdings, a move that heightened investor sensitivity. The decline also coincided with a shift in institutional capital toward AI-related stocks. Meanwhile, spot Bitcoin ETFs continued to record substantial outflows, while institutional demand remained subdued.
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Bitcoin extended its decline to as low as $61,000 in early June, its weakest level since before the Iran conflict escalated in late February, before trimming losses to around $64,000. The token has dropped about 16% since Strategy Inc. sold roughly $2.5 million of its large Bitcoin holdings. The firm is one of the biggest corporate Bitcoin holders and is widely seen as a proxy for the cryptocurrency under its digital asset treasury model, making the sale particularly sensitive for investors, even though Saylor had previously suggested selling could be an option. Sentiment was further weighed by lingering geopolitical tensions in the Middle East, as US-Iran negotiations remain unresolved. The selloff also highlighted Bitcoin’s divergence from tech stocks, which were hitting record highs. Bitcoin is now down more than 50% from its peak above $126,000 last October. US-listed Bitcoin ETFs have also seen nearly $4 billion in outflows over 12 consecutive sessions, marking a record streak.
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