Bitcoin is trading at $91,183.2 today, up 4.48 percent in the last 24 hours.
The biggest Bitcoin rally reason today is a swing back toward optimism on interest rates. Over the last week, odds of a major global central bank rate cut in early 2026 have risen again as data points to moderating growth but not a hard recession, supporting a soft landing narrative.
Just days ago, markets were still digesting a brutal November in which Bitcoin fell roughly 31 percent from its peak above 126,000 dollars to lows near 82,000 dollars, largely blamed on hawkish rate rhetoric, rising bond yields, and over two billion dollars in crypto liquidations. That macro backdrop is now easing:
For Bitcoin traders, softer rate expectations matter because they lower the opportunity cost of holding non-yielding assets and tend to boost appetite for high-beta trades. That macro shift is feeding directly into today’s move.
Today’s crypto market tone is clear: risk is back on, at least for now. Bitcoin has reclaimed the 90,000-dollar handle for the first time in nearly a week, coinciding with a broader rally in global risk assets and a noticeable drop in volatility.
Across the crypto complex:
This is happening after a period where the entire market had already shed more than 1.3 trillion dollars in value since the early October highs, leaving positioning cleaner and leverage significantly reduced. That deleveraging phase set the stage for exactly this kind of sharp rally when macro conditions finally relaxed.
Not everything about today’s move screams new bull leg. Several on-chain and flow metrics still suggest this is a fragile rally built on thin liquidity.
Recent market briefs note that while Bitcoin has pushed above 90,500 dollars, realized losses are rising and demand looks weaker compared to earlier in the year. At the same time, large address holders have been sending more BTC and ETH into exchanges, a classic signal of potential selling pressure.
In parallel, other analysis points to:
So while the headline move is positive, the microstructure behind it still looks fragile.
ETF flows have quietly shifted from being a headwind to a partial tailwind, and that matters for understanding why bitcoin is up today.
Mid-November saw persistent outflows from spot Bitcoin ETFs as investors took profits and de-risked. That contributed to downward pressure on price for much of the month.
Over the last week, however, the picture has improved:
When ETF flows flip from large, persistent outflows to modest inflows, they remove a selling overhang and give spot markets breathing space. That is exactly the environment we are in today: flow data is no longer aggressively negative, which is one reason this bounce above 90,000 dollars has had staying power.
From a technical standpoint, Bitcoin is still digesting a deep correction, even as price rips higher today. Technical dashboards show a nuanced picture across timeframes, essential for separating a short-term pump from the broader trend.
On the weekly timeframe, Bitcoin’s technical rating is broadly neutral.
Key takeaways:
For medium-term investors, this neutral weekly view supports the idea that today’s move is part of an ongoing consolidation, not a fully reset trend.
On the daily timeframe, despite today’s bounce, the summary technical rating still leans sell due to recent price weakness. Oscillators skew buy, yet moving averages remain bearish, reflecting how sharply price broke down earlier in November.
Important daily observations:
Zooming out to the monthly timeframe, Bitcoin still carries a buy rating, signalling a long-term uptrend despite November’s volatility.
On a multi-month basis:
This technical backdrop suggests today’s rally aligns with the long-term trend, even if medium-term indicators are still resetting.
Over the last seven days, Bitcoin has started forming a base. Price data indicates about a 1 percent decline over the week but with large intraday swings between roughly 85,000 and 90,000 dollars.
This week’s pattern:
In short, the Bitcoin crash reason over the last month was a combination of hawkish macro conditions, heavy leveraged positioning, and ETF outflows. This week’s stabilization reflects the gradual easing of those pressures.
Zooming out, Bitcoin remains in the red for the month, making November one of the cycle’s most volatile periods:
By late November, however, the outlook improved:
Overall, the monthly trend shows a market that has endured a significant correction, flushed out leverage, and is now attempting to resume its broader uptrend. Today’s move above 90,000 dollars fits that recovery narrative.
Bitcoin’s move is driven by three intersecting forces:
Risks remain. Liquidity is thin, large holders continue to move coins onto exchanges, and medium-term technicals still need repair. A negative macro surprise or renewed ETF outflows could push Bitcoin lower again.
But for investors looking at broader time horizons, the structural picture remains strong. ETF inflows over the lifespan of the products are still substantial, long-term technicals trend higher, and institutions increasingly treat Bitcoin as a serious macro asset.
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Krishnan is a Bangalore-based crypto writer dedicated to simplifying complex crypto concepts. He covers blockchain, DeFi, and NFTs, with a focus on real-world asset tokenization and digital trust. Previously he has written on Real Estate related assets for NoBroker. Krishnan holds a B.Tech degree from the College of Engineering Trivandrum.
