Bitcoin has been trading near the $89,000 mark, fluctuating modestly around $88,800 during Asian trading hours. This comes as market participants closely watch for upcoming decisions by the Federal Reserve and earnings reports from major “megacap” companies. The recent price movements see Bitcoin stalling below the significant $90,000 threshold, despite the general upward trend in cryptocurrency markets.
Alongside Bitcoin, Ethereum has also shown gains, climbing approximately 2% to just under $3,000. These developments occur amid a weakening U.S. dollar, which recently fell to around 95.5, its lowest in nearly four years, contributing to a more favorable environment for risk assets such as cryptocurrencies.
Although Bitcoin has rebounded from lower levels, it still remains slightly below the $90,000 mark.
Bitcoin’s price activity has shown significant movement within a narrow range. On Wednesday, the cryptocurrency hovered near $89,000 and was trading around $88,800 during Asian hours. The price rebounded from levels below $88,000 to approximately $89,300 before eventually settling just under the $90,000 threshold, recording a modest rise of 0.82%.
An important factor contributing to Bitcoin’s price stabilization is the $86,000–$87,000 zone, identified as a critical support area by market analysts at CoinSwitch. This zone saw a dense cluster of leveraged long liquidations, which reduced excess leverage in the market and stabilized the short-term market structure. As noted by analysts, the trading activity in this zone played a pivotal role in buffering downward pressure and ensuring a rebound in Bitcoin’s price.
The broader market context is influenced by a weakening U.S. dollar, marked by a decline in the dollar index to approximately 95.5, its lowest in nearly four years. This reduction in the dollar’s strength has lowered the opportunity cost of holding risk assets, thereby supporting Bitcoin’s price resilience .
Ether rose about 2% to just under $3,000, keeping Ethereum close to the $3,000 mark during the reported trading session. Smaller tokens showed more pronounced moves: Hyperliquid surged roughly 27.77%, while Jupiter also registered gains, contributing to a broadly higher tone across the crypto market. Overall, cryptocurrencies in the coverage set inched higher alongside Bitcoin’s modest advances, though most token-level details were limited in the source material.
The available sources do not provide further price breakdowns, time stamps, or trading-volume data for Hyperliquid, Jupiter, or other tokens mentioned. As a result, intra-token drivers and the precise timing of these moves cannot be corroborated from the provided material. Readers seeking exact price trajectories or volume metrics will need to consult exchange data or dedicated market feeds.
Bitcoin remained below the $90,000 threshold, recording a modest gain of 0.82% as prices hovered near $89,000 and traded around $88,800 during Asia hours. The dollar index fell to around 95.5, its weakest level in nearly four years, lowering the opportunity cost of holding risk assets and supporting Bitcoin’s rebound from below $88,000 to about $89,300. Other cryptocurrencies rose incrementally, with Ether up about 2% to just under $3,000, Hyperliquid surging 27.77% and Jupiter also gaining. These movements occurred as markets looked ahead to the Federal Reserve decision and earnings reports from major megacap companies.
