Ines Ferré · Senior Business Reporter Wed, December 3, 2025 at 11:22 PM GMT+8 2 min read In this article: - BTC-USD +0.97% ETH-USD +1.70%
Bitcoin stood above $92,000 on Wednesday, a key level traders have been watching that could signal a run toward $100,000 isn't out of the question.
Bullish developments over the past two days have boosted investor sentiment, including Vanguard offering crypto products on its platform, Bank of America recommending up to a 4% crypto asset allocation for its wealth management clients, and a major upgrade to the ethereum network.
"We're not out of the woods yet, but December may be shaping up to be a far better month than its predecessor, and a Santa rally is certainly not off the cards," Coin Bureau investment analyst and co-founder Nic Puckrin said.
Bitcoin is recovering from a rough November, during which the cryptocurrency dropped 18%. Meanwhile, bitcoin exchange-traded funds (ETFs) are rebounding after experiencing their second-largest monthly outflows on record.
CCC - CoinMarketCap • USD (BTC-USD) Follow View Quote Details 91,906.05 +882.50 +(0.97%) As of 4:11:00 PM UTC. Market Open. BTC-USD ETH-USD Advanced ChartRead more about bitcoin's moves and today's market action.
"Bitcoin continues to rely heavily on institutional flows, which naturally slow in the middle of the month, making a sustained breakout less likely," 10X Research said in a note on Wednesday. "With that said, the break above $92,000 does open the path toward a retest of $100,000."
Investors are expecting a 25 basis point rate cut at the Dec. 10 Federal Reserve policy meeting. Prediction markets point to an 80% chance that Kevin Hassett could be President Trump's pick to replace Chair Jerome Powell next year.
Markets see Hassett, director of the White House National Economic Council, as bullish for the crypto industry.
Compass Point analyst Ed Engel pointed out that under Hassett, the council published a 168-page report recommending regulations for the blockchain industry, stablecoins, and other digital assets.
"While Fed Chair Powell has been less hawkish on crypto than other FOMC members (particularly Barr), a decisively pro-crypto Fed Chair could accelerate blockchain's integration into the banking system." Engel wrote.
Bitcoin prices held above $92,000 on Wednesday, signaling that a run to $100,000 isn't off the table. Photo by: STRF/STAR MAX/IPx 2021 1/11/21 · STRF/STAR MAX/IPx Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre.
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