BTC pushes back above $91K — Eyes now on the $100K level

Bitcoin surged back above $91,000 on December 2, marking an 8.3% gain in 24 hours after dipping below $85,000 the previous day. The rebound lifted its market cap to $1.83 trillion, recovering sharply from yesterday’s drop of $1.6 trillion.

BTC currently trades at $91,923, its trading volume has also declined over 4%, suggesting reduced selling pressure as the asset approaches the psychological $100,000 threshold.

The recovery follows a volatile period triggered by macroeconomic shifts and institutional developments. Traders now watch whether Bitcoin can sustain momentum toward six-figure territory.

Goldman Sachs and Vanguard Push Bitcoin Institutional Adoption Forward

Goldman Sachs acquired Bitcoin ETF issuer Innovator Capital for $2 billion, expanding its cryptocurrency product lineup. The move signals deepening institutional infrastructure around digital assets.

Meanwhile, Vanguard reversed its anti-crypto stance under new leadership. The firm opened access to products that hold Bitcoin, Ether, XRP, Solana, and other regulated cryptocurrencies for over 50 million clients.

With $11 trillion in assets under management, Vanguard’s entry could funnel substantial capital into crypto markets. The shift marks a turning point for mainstream institutional adoption.

However, Bitcoin ETF flows turned negative in the last 24 hours. One-day net outflows reached 1,139 BTC, totaling $103.15 million, according to Lookonchain data.

Seven-day flows remain positive at 1,038 BTC, worth $93.94 million. The mixed signals reflect ongoing volatility in institutional sentiment despite broader adoption trends.

Dec 2 Update:#Bitcoin ETFs:
1D NetFlow: -1,139 BTC(-$103.15M)🔴
7D NetFlow: +1,038 BTC(+$93.94M)🟢#Ethereum ETFs:
1D NetFlow: -1,274 ETH(-$3.8M)🔴
7D NetFlow: +70,245 ETH(+$209.33M)🟢#Solana ETFs:
1D NetFlow: -90,282 SOL(-$12.28M)🔴
7D NetFlow: +309,000 SOL(+$42.02M)🟢… pic.twitter.com/wVzrw1lFGZ

— Lookonchain (@lookonchain) December 2, 2025

Fed Liquidity Injections Fuel Bitcoin Recovery Amid Japanese Tightening

The Federal Reserve injected $13.5 billion via overnight repos on December 1, plus another $25 billion morning repo. The combined $38.5 billion represents one of the largest liquidity boosts since COVID-19.

Historically, such injections have supported Bitcoin rallies. The 0.78% intraday bounce aligns with past Fed-driven momentum patterns observed in previous market cycles.

The Fed officially ended quantitative tightening on December 1 after more than three years. When QT ended on August 1, 2019, BTC rallied 30% in seven days, climbing from $9,500 to $12,300.

🔥 BREAKING: THE FED HAS JUST CALLED TIME ON 3.5 YEARS OF QUANTITATIVE TIGHTENING WHILE QUIETLY ADDING $13.5B TO THE BANKING SYSTEM THROUGH OVERNIGHT REPOS. pic.twitter.com/WEeMPGEJy0

— Coinwaft (@coinwaft) December 2, 2025

However, Japan’s monetary tightening provides a counterforce. The yen carry trade unwind and rising inflation contributed to Sunday’s 5% flash crash.

The FOMC meeting on December 10 approaches with an 87% priced-in rate cut. The decision could trigger renewed bullish momentum if expectations materialize as anticipated by market participants.

Michaël van de Poppe, CIO of MNFunds, highlighted the crucial $92,000 area. He stated that breaking this level successfully would lead to a new all-time high and test at $100,000.

Jack Caffrey, a JP Morgan equity portfolio manager, emphasized Bitcoin’s role as a leading risk indicator for U.S. markets. His comments reflect growing Wall Street attention to crypto price action.

JUST IN: $4 TRILLION JP MORGAN JUST SAID LIVE ON CNBC #BITCOIN IS NOW A LEADING INDICATOR FOR THE ENTIRE US MARKET

BTC AT THE HEART OF WALL STREET 🔥 pic.twitter.com/Fax0AE5eIY

— The Bitcoin Historian (@pete_rizzo_) December 2, 2025

More than $10 billion in short positions face liquidation once BTC hits $100,000. This could accelerate upside movement once that threshold approaches, creating a potential cascade effect.

Despite the bullish sentiments, a trader on X warns Bitcoin may still be completing a Wyckoff Distribution pattern. He predicts a drop to $62,000–$74,000 by next week, potentially aligned with the December 10 Fed meeting.

According to this view, BTC is finishing crash wave three down to $74,000. A temporary bounce for wave four may occur if the Fed sparks short-term optimism.

Afterwards, a final dip for wave five is expected before significant recovery. He anticipates this relief rally in January once the Fed begins jumbo rate cuts.

BTC Technical Indicators Point to Key Resistance Zones

Bitcoin’s daily chart shows a V-shaped recovery from $86,180 support. The MACD histogram turned positive at +810.88, confirming a bullish crossover after the signal line crossed above.

The 20-day simple moving average sits at $97,969, representing major resistance ahead. Price bounced from the lower Bollinger Band at $83,165, now attempting to reclaim the middle band at $90,567.

The RSI14 recovered from oversold conditions at 33.04, providing room to run before overbought territory above 70. Fibonacci support held at $87,188, marking the critical 78.6% retracement level.

Immediate resistance appears at today’s high of $92,335. A break above this level targets the upper Bollinger Band near $98,000, then the psychological $100,000 zone.

Key support remains at $86,860. Failure to hold this pivot point risks retesting the $83,862 lows established during yesterday’s selloff.

The MACD remains in negative territory despite the crossover, indicating early-stage momentum reversal. Full bullish confirmation requires the indicator crossing into positive territory with sustained upward movement.

Price trajectory remains cautiously bullish short-term, contingent on holding above $90,000 and breaking through the $92,000–$98,000 resistance zone. Downtrend structure from October’s $108,000 peak remains intact pending decisive reclaim of six-figure levels.