Simply put
- Bitcoin surpassed $90,000 again.
- Last week, it dropped to roughly $81,000.
- Other cryptocurrencies, like Ethereum, XRP, and Solana, also saw gains on Wednesday.
On Wednesday, Bitcoin’s price rose past $90,000 after experiencing a tough couple of weeks. Many investors were hinting at the possibility of a bear market.
Bitcoin climbed to around $90,334 Wednesday afternoon but then dropped again. Its price stabilized at about $90,035 after a 3% increase over the past 24 hours, according to CoinGecko.
Recently, the largest cryptocurrency had a rough patch, falling along with other assets in November and hitting a low of about $81,000, which erased all gains from 2025.
Just in October, Bitcoin reached an all-time high of $126,080. Now, it stands roughly 29% below that high.
Analysts, in interviews, mentioned dwindling interest from institutional investors and unclear Federal Reserve policies as contributing factors to the price drop.
Typically, Bitcoin and its counterparts perform well when the U.S. central bank lowers interest rates. However, lately, there’s been some debate about whether the Fed will opt for a third rate cut in December.
Moreover, experts point out that a drop in market liquidity has also affected digital asset prices. October’s significant sell-off wiped out a staggering $19 billion in open interest, hitting the market hard.
On Wednesday, several other cryptocurrencies also made gains. Ethereum approached $3,022 after a 3% rise, while Solana jumped almost 5% to $143.
XRP and Dogecoin recorded earnings of 2% and 3%, respectively. As Americans shift their focus away from the markets for Thursday’s Thanksgiving holiday, cryptocurrency trading will carry on.
It’ll be interesting to see if last week’s uptick continues through the month and into December, or if we’re just experiencing a brief pause during this downward trend.
