Bitcoin Regains Momentum: Crypto Market Outlook

The week has begun on a positive note, with bitcoin rising over 1% to $89,800, nearing the upper limit of its recent range between $85,000 and $90,000. However, the key challenge for bulls remains the overhead supply between $92,000 and $95,000, according to market analysts. This week's US economic calendar features the third-quarter GDP and consumer confidence reports on Tuesday, followed by jobless claims on Wednesday. These figures may impact investor sentiment, although year-end holidays may lead to thin market liquidity and erratic price movements. On Friday, $27 billion worth of BTC and ETH options are set to expire on Deribit, with a bullish lean in positioning ahead of the event. Despite the price bounce, some analysts remain cautious, warning that the short-term positive momentum may be misleading and that the broader picture of disappointment should not be overlooked. Bitcoin is currently trading 30% below its peak and at a level lower than at the start of 2025. In the broader market, some tokens have gained 4-6% in the past 24 hours, while major altcoins are trading mixed. Uniswap's UNI token is down over 1% as voting begins on a proposal to activate the protocol fee switch. In traditional markets, gold has hit a record high, and the dollar index has fallen back slightly. For more analysis and market updates, see Crypto Markets Today and the Crypto Week Ahead.