Bitcoin Holds Above $91,000 Ahead of Fed Meeting
Bitcoin (BTC) is steady above $91,000 on Friday. It faces resistance at $94,150, which capped its recent rise on Wednesday. However, buyers have kept Bitcoin from falling below $90,000. Ethereum (ETH) stays above $3,100, showing positive sentiment before the Federal Reserve’s meeting on December 10. Ripple (XRP) is moving down toward the key $2.00 level due to weak market sentiment.
Fed Interest Rate Decision Expected on December 10
The Federal Reserve will announce its interest rate decision on December 10. The market expects an 87% chance of a 25 basis point rate cut, reducing rates from 3.75–4.00% to 3.50–3.75%. This would be the third cut this year, following reductions in September and October. The weaker US labor market and easing inflation support this possible cut.
Fed Chair Jerome Powell said in October that the December rate cut is not guaranteed. The Fed will decide based on new economic data. This uncertainty caused crypto market volatility, with Bitcoin dropping close to $80,000 on November 21. Since then, Bitcoin has recovered but still faces resistance near $94,150. Ethereum shows strength but remains below $3,200. Ripple approaches the $2.00 mark.
Altcoin Updates: Ethereum and XRP Face Resistance
Ethereum trades above $3,100 but hit resistance at a descending trendline this week. This increases short-term downside risk. The daily RSI suggests a bearish bias, and Ethereum is below its 50-, 100-, and 200-day moving averages, limiting upward moves. However, the MACD shows rising bullish momentum. A break above the trendline could lead to a rise toward $4,000.
Ripple is at $2.06, trading below its 50-, 100-, and 200-day moving averages, signaling ongoing weakness. The 50-day moving average near $2.30 limits gains. The MACD shows weakening momentum and the RSI indicates low buying pressure. XRP must break above resistance levels at $2.40 to $2.49 to avoid further decline.
