4 Minutes
Market snapshot: BTC tops $90,000, majors climb
Cryptocurrency markets showed early signs of recovery on Nov. 27 as Bitcoin rebounded above the $90,000 mark and major altcoins posted modest gains. The total crypto market capitalization rose roughly 3.6% to about $3.2 trillion as investor sentiment improved following a sharp mid-November pullback.
At press time, Bitcoin (BTC) was trading near $91,404, up about 4.6% in 24 hours. Ethereum (ETH) traded around $3,038, up 3.8%, while BNB reached approximately $895 (+3.6%) and XRP came in near $2.20 (+1.3%). Several top-100 tokens, including Hyperliquid, Mantle and Sky, outperformed with intraday gains between 6% and 10%.
Key market metrics
- Total market cap: ~$3.2 trillion (+3.6%)
- Bitcoin price: $91,404 (+4.6%)
- Ethereum price: $3,038 (+3.8%)
- Crypto Fear & Greed Index: 22 (still in extreme fear, +7 pts)
- Liquidations (24h): $346 million (+7%)
- Total open interest: $135 billion (+4%)
- Average market RSI: 56 (neutral)
Macro forces and liquidity dynamics
Macroeconomic signals helped lift risk appetite. Markets are pricing roughly an 85% probability of a December Fed rate cut after softer U.S. inflation prints and signs of a cooling labor market. Fed Governor Christopher Waller noted that delayed government reports will give policymakers a clearer data set ahead of the December meeting, a comment markets read as supportive of easing.
Quantitative tightening is also slated to formally end on Dec. 1, which should add liquidity to risk assets. Meanwhile, market chatter about potential leadership changes at the U.S. central bank — including speculation around Kevin Hassett as a possible Fed Chair candidate — has bolstered risk markets, benefiting crypto and tech sectors.
Geopolitical developments reduced near-term risk premia as well. Positive signs on a potential Ukraine settlement and progress in U.S.–China trade talks lifted global equities, and the crypto market broadly followed.
On-chain indicators point to stabilization
On-chain data suggests the market may be moving out of a corrective phase. Analysts at CryptoQuant and contributors such as XWIN Research Japan highlighted that excessive leverage across Bitcoin futures, spot, and on-chain activity has eased. The MVRV (market-value-to-realized-value) ratio, a historical marker for early recoveries, has pulled back to around 1.54.
Open interest in Bitcoin futures fell from approximately $37 billion to $29 billion during the correction, removing much of the excess leverage. Short-term holders experienced roughly $900 million in unrealized losses during the plunge — a pattern often associated with capitulation near local lows — while whale addresses holding between 10 and 1,000 BTC have accumulated steadily.
Why whales matter
Increased accumulation by larger addresses typically signals restoring confidence from long-term capital, which can underpin a sustainable rally if spot demand continues to rise. Reduced leverage also lowers the risk of forced liquidations that can exacerbate downside moves.
Outlook and key levels to monitor
Analysts remain cautiously optimistic but acknowledge risks. Market heavyweights such as Mike Novogratz and Tom Lee have suggested Bitcoin could push toward $100,000 before year-end if demand holds. However, a failure to sustain the $88,000 support level could see BTC slide back toward $80,000 or retest lower support zones under more severe selling pressure.
Traders and investors should watch liquidity indicators, derivatives open interest, the Crypto Fear & Greed Index, and macro data leading into the Fed decision. For now, improving on-chain signals, rising spot demand and easing leverage point to a market attempting to rebuild momentum as November closes.
Takeaway for crypto investors
Investors should remain vigilant: bullish signs are emerging, but the market remains fragile. Use risk management, monitor on-chain metrics and macro headlines, and watch critical price supports and resistance levels to gauge whether this rebound can evolve into a broader uptrend.
Source: crypto
Comments
coinpilot
Wait btc at 91k? sounds optimistic, but is liquidity really returning or just a relief bounce? gotta see Dec Fed data
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