Bitcoin Regains Momentum: A Look Ahead at the Crypto Market

As the week commences on a positive note, bitcoin is up over 1% at $89,800, nearing the upper limit of its recent range between $85,000 and $90,000. However, the $92,000 to $95,000 resistance zone remains a significant challenge for the bulls. This week's US economic calendar features key reports, including the third-quarter GDP and consumer confidence on Tuesday, followed by jobless claims on Wednesday. These figures may impact investor sentiment, though year-end holidays may lead to thin market liquidity and erratic price fluctuations. 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, warning that the short-term 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 lower level than at the start of 2025. In the broader market, tokens like HYPE, KAS, SKY, and NIGHT have seen gains of 4% to 6% over 24 hours, while major altcoins such as XRP, ETH, and SOL are trading mixed. The CoinDesk 20 and CoinDesk 80 indexes are relatively unchanged. Uniswap's UNI token is down over 1% as voting commences on a proposal to activate the protocol fee switch. In traditional markets, gold has reached a record high of $4,420, while the dollar index has fallen slightly to $98.48.