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Bitcoin Price Today: Rises to $89K Amid Expectations of Fed Rate Cuts
Bitcoin edged higher on Monday, holding near the $89,000 level after last week’s decline, as risk sentiment improved across broader markets amid strong expectations that the Federal Reserve will cut interest rates in 2026.
The world’s largest cryptocurrency was trading at $89,089.92 as of 07:25GMT.
Bitcoin fell 2% over the past week, remaining in a narrow range amid low liquidity.
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Bitcoin Attempts to Regain Momentum
Bitcoin has struggled to decisively break above the psychologically important $90,000 level, with traders pointing to weaker demand from institutional investors and cautious positioning ahead of the year-end holiday period.
Risk sentiment across markets improved. Gold prices hit fresh record highs on Monday, supported by strong demand amid growing expectations that the Federal Reserve will lower interest rates next year following softer-than-expected inflation data.
Global equity markets advanced, with Asian stocks opening higher alongside U.S. futures, as investors anticipate improved liquidity and a potential year-end rally.
Analysts point to slowing ETF inflows and mixed sentiment surrounding digital assets as factors keeping the market range-bound.
Hong Kong Insurers to Be Allowed to Invest in Crypto Under New Rules — Bloomberg
Hong Kong’s insurance regulator is proposing new rules that would allow insurers to allocate capital to assets including cryptocurrencies and infrastructure, as part of measures aimed at redirecting funds toward government-priority sectors, Bloomberg News reported.
Under the proposal, the Insurance Authority would impose a 100% risk charge on crypto assets, according to a presentation dated December 4 reviewed by Bloomberg. Investments in stablecoins would be subject to risk charges depending on the fiat currency to which they are pegged, the report said.
Crypto Prices Today: Altcoins Remain Subdued
Most altcoins also traded in a narrow range on Monday.
The world’s second-largest cryptocurrency, Ethereum, rose 1.7% to $3,032.92.
The third-largest cryptocurrency, XRP, was largely unchanged at $1.92.
Solana and Cardano edged higher, while Polygon fell 2.1%.
Among meme tokens, both Dogecoin and $TRUMP were little changed.
See also: "ChatGPT Compiled an Ideal Cryptocurrency Portfolio for 2026"
