Bitcoin Regains Momentum: A Look at the Crypto Market

The week has kicked off on a positive note, with bitcoin rising over 1% to $89,800, nearing the upper limit of its recent trading range between $85,000 and $90,000. However, the $92,000 to $95,000 range remains a significant obstacle for bulls to overcome, according to analysts. This week's US economic calendar features key reports, including third-quarter GDP and consumer confidence on Tuesday, followed by jobless claims on Wednesday. These reports may impact investor sentiment, although thin market liquidity due to year-end holidays could lead to unpredictable price swings. On Friday, $27 billion in BTC and ETH options are set to expire on Deribit, with a bullish lean in positioning ahead of the event. Despite the price rebound, some analysts remain cautious, citing the short-term positive momentum as potentially misleading. Bitcoin is currently 30% below its peak and trading lower than at the start of 2025. In the broader market, tokens such as HYPE, KAS, SKY, and NIGHT have seen gains of 4% to 6% over 24 hours, while major altcoins like XRP, ETH, and SOL are trading mixed. The CoinDesk 20 and CoinDesk 80 indexes are relatively unchanged. Uniswap's UNI token has fallen over 1% as voting begins on a proposal to activate the protocol fee switch, with overwhelming support for the proposal. In traditional markets, gold has reached a record high of $4,420, while the dollar index has fallen back slightly to $98.48.