Bitcoin Surges Past $91K Amid December Rate Cut Expectations as SpaceX Transfers $105M in BTC

Bitcoin Price Surge: Bitcoin's price increased by 4% to $91,393, driven by rising expectations of a US Federal Reserve rate cut, which has led to increased investor interest and trading volume.

Market Dynamics: The likelihood of a quarter-point rate reduction in December has jumped to 85%, which could enhance liquidity and boost demand for risk assets like Bitcoin.

Whale Activity: A crypto wallet linked to SpaceX transferred 1,163 BTC valued at approximately $105 million, while another whale sold 200 BTC after nearly three years of dormancy, realizing significant profits.

Technical Analysis: Bitcoin is attempting a recovery after breaking out of a low liquidity zone, with key resistance levels identified around $89,800 to $91,800, while a failure to maintain recent lows could lead to a retest of the $80,000 to $82,000 support range.