Analysis: The market is awaiting next week's FOMC meeting, and expects leadership changes to make its stance more dovish.
TL;DR
Bitcoin stabilizes around $90,000 as investors anticipate the upcoming FOMC meeting, with expectations of a dovish shift due to potential leadership changes and a high probability of a rate cut.
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PANews reported on December 3rd that Singapore-based crypto investment firm QCP Capital analyzed that Bitcoin's price is holding steady in the $90,000 range as investors await the Federal Open Market Committee (FOMC) meeting. After rebounding 5% from a low of $86,000, Bitcoin's price has stabilized in the mid-$90,000 range, with the market awaiting next week's FOMC meeting. The market currently bets an 85% probability of Kevin Hassett becoming the next Fed Chair, and a series of rare leadership changes are expected to make the FOMC's stance more dovish. The futures market still shows a 90% probability of a 25 basis point rate cut. Strategy's $1.4 billion equity financing eased immediate market concerns, pushing its net asset value per unit (mNAV) back to approximately 1.14, although the MSCI index review on January 15th remains a key risk.