Bitcoin Price Climbs 1.55% as Cathie Wood Predicts Crypto Market Recovery

The Bitcoin price has climbed 1.55% in the past 24 hours, trading at $91,568, amid a 29% daily trading volume drop to $61 billion.

The surge in BTC price happens after Cathie Wood, the CEO of Ark Invest, said she expects the crypto market to recover within the next month as the current liquidity squeeze fades. In Ark’s November webinar, she explained that crypto often moves first when liquidity improves, and she believes conditions are already turning.

Her view matches Arthur Hayes’, who said the recent market drop was caused by falling USD liquidity, but noted things are improving as the Federal Reserve prepares to end quantitative tightening (QT) on December 1 and U.S. banks increase lending.

Liquidity could improve even more if the Fed cuts interest rates at the December FOMC meeting, where there is an 85% chance of a 25 bps cut. This expectation has helped Bitcoin jump back above $90,000, supported by JPMorgan’s forecast of another rate cut. Analysts like Raoul Pal also believe the end of QT and increased money printing will send more capital into crypto.

Cathie Wood also talked about lowering her 2030 Bitcoin price target from $1.5 million to $1.2 million because stablecoins have grown so quickly and now play a big role in emerging markets. Still, Ark Invest continues to expand its crypto exposure, buying more shares of Coinbase, Block, Circle, Robinhood, and $2.8 million worth of its spot Bitcoin ETF.

Bitcoin Price Attempts Breakout as Parabolic Recovery Forms

Bitcoin is trading around $91,300 after showing early signs of slowing its downtrend. For weeks, the price has been moving inside a bearish channel, with lower highs and lower lows forming a clear downward structure. Recently, however, BTC has started to create a parabolic curve, showing that buyers are slowly gaining confidence and pushing the price upward from the $80,000 support zone.

The chart shows that Bitcoin bounced from the 0.236 Fibonacci level near $85,000, which is acting as a strong demand area. If the price continues to respect this curve, we may see a breakout above the channel resistance. The next major Fibonacci level sits near $94,900 (0.786). A daily close above this point could open the door for a move toward the $98,700 level, which is the full 1.0 Fibonacci mark.

BTC/USDT Analysis. Source: Tradingview

Above $98,700, the price could target the 1.272 Fibonacci extension at $103,600 and later the 1.618 extension at $109,700, which also coincides with the 200-day SMA. This means the $109K zone will be a major resistance if Bitcoin turns bullish again.

The 50-day SMA at $102,897 is still above the current price, so BTC remains technically bearish, but the gap is narrowing. A break and close above the 50-day SMA would be the first strong confirmation of a trend reversal.

RSI and MACD Turn Up, But Bitcoin Still Risks Deeper Drop

Momentum indicators support the idea of early recovery. The RSI has bounced from oversold levels and is now around the mid-40s, suggesting selling pressure is fading. If RSI crosses above 50, it will signal growing bullish strength. The MACD is also improving, with the histogram rising and the signal lines preparing for a potential bullish crossover.

On the downside, failure to hold this parabolic recovery could send Bitcoin back toward $87K, and a deeper drop may retest the major support at $80,500. Losing this level would renew the sell-off and extend the bearish trend.