Bitcoin price briefly touched $93.9K today, December 3, sparking excitement, though it’s since pulled back slightly. The market is focused on the December 10 FOMC meeting, which could set the stage for broader trends. With an 87% likelihood of a 25-basis-point rate cut, traders are weighing whether Bitcoin will push higher or face a minor pullback.
Market Scenario
Bitcoin (BTC) is hovering around $92.6K today, showing a 3% gain in a single day and 6.3% over the week.
The crypto market is focused on the December 9-10 FOMC meeting, which could set the stage for future policy. If the Fed cuts rates, BTC could benefit from increased liquidity, while a cautious approach might put a brake on momentum.
Recent inflows into crypto ETFs of $220 million at month-end also point to strong institutional demand, backing up this Bitcoin price prediction.
Upside Outlook
If Bitcoin can reclaim and hold the $93K-$94K range by the end of the week, moving toward $100K starts to look a lot more realistic. A dovish Fed decision could give BTC an extra boost, fueling bullish sentiment and attracting new traders. According to analysts’ BTC price predictions, this kind of momentum could also set up strong support levels, making BTC an appealing option for short-term gains.
Downside Risks
Even with the market looking bullish, Bitcoin isn’t completely safe from dips. If the market rejects the current levels, BTC price could dip back toward $88K-$89K. Any surprises from the FOMC or sudden economic data could shake things up. According to the BTC forecast, the mood is optimistic, but traders should stay ready for short-term pullbacks.
Bitcoin Price Prediction Based on Current Levels
As the December FOMC meeting approaches, the BTC outlook remains cautiously optimistic. Depending on the Fed’s move, BTC price could either push closer to $100K or see a short-term dip. Coupled with strong ETF inflows and the potential for a rate cut, analysts’ BTC price predictions suggest the market is ready for action, making this a crucial week for Bitcoin traders and investors.