On Friday, the price of Bitcoin remained around $90,000, supported by short positions covering and bargain buying. Market maker Flowdesk stated that these factors helped alleviate recent dumping pressure, leading to a more stable market performance. Meanwhile, traders are widely betting that the Fed may cut interest rates in December, a sentiment that is affecting multiple asset classes, including Crypto Assets.
Ethereum is slightly above $3000, showing some buying interest returning. However, compared to Bitcoin, Ethereum has experienced greater selling pressure over the past month. Prediction platform Polymarket shows that traders believe there is a 74% probability that Bitcoin will maintain a weekly high of $92,000 by the end of November, while the probability of breaking above $96,000 is in the single digits. The continued outflow of ETFs still poses resistance to price increases, and traders expect that once Bitcoin rebounds to around $95,000, supply pressure may increase again.