Strong Rebound in Crypto Market: Bitcoin Returns to 92,000, Multiple Positive Factors Materialize

[BlockBeats] From last night to this morning, the crypto market finally made a comeback. Bitcoin once surged back to $92,000, and Ethereum also climbed back above the $3,000 mark, basically recovering the losses from the “1201” crash.

This rebound came on strong, backed by several major news events.

First, institutional moves—Vanguard, the world’s second-largest asset management company, made a surprising move by opening up spot Bitcoin ETF trading channels. You should know that this long-established institution is known for its prudent and conservative approach, so opening up directly to 8 million self-directed users is quite a significant signal. In addition, Bank of America also stated that it recommends investors allocate 1%-4% to digital assets. The shift in traditional finance’s attitude is pretty obvious.

There’s also action on the policy front. At a press conference, Trump hinted that Hassett might take over as Fed Chair, and also took the opportunity to diss Powell, saying he should cut rates. Now the market is generally betting that this crypto-friendly dove will take the position.

What’s more concrete is that the Fed officially announced the end of quantitative tightening. Although its effects may not be fully seen until early next year, expectations for looser liquidity are already being realized.

U.S. stocks also closed well yesterday, with the Nasdaq up 0.59% and the Dow up 0.39%. Bitcoin recovered together with tech stocks.

Meanwhile, in Japan, JGB auctions have stabilized, alleviating previous market fears of a rate hike panic.

With several positive factors stacking up, this rebound arrived.