Bitcoin (BTC) held above $91,000 on Friday as crypto markets showed little movement following Thursday’s U.S. Thanksgiving holiday.
Market sentiment has improved slightly, with the fear-and-greed index rising to 22 — still in “extreme fear,” but reflecting renewed buying in large-cap tokens. BTC has retraced roughly 61.8% of its November 11–21 decline, reclaiming a key Fibonacci level. FxPro’s Alex Kuptsikevich said sustaining this level could open the door for a push toward $100,000.
Analysts view the recent ~30% correction as a potential long-term entry point. K33 Research highlighted BTC’s underperformance against the Nasdaq in 70% of sessions last month, a rare occurrence often seen near local market inflection points. Deribit data shows traders favoring upside structures in the $100,000–$118,000 range, while remaining cautious on clearing $120,000 without stronger macro catalysts.
Tether (USDT) was downgraded to “weak” by S&P, citing exposure to BTC, gold, and corporate credit. The stablecoin now holds 116 tonnes of gold, comparable to the reserves of Hungary or Greece.
Altcoins were mixed but began reflecting improving risk sentiment. Ether (ETH) fell 0.4% to $3,023, XRP slipped 0.8% to $2.20, BNB added 0.3% to $897, Solana (SOL) dropped 2% to $140, Tron (TRX) rose 1.4% to $0.2803, Dogecoin (DOGE) fell 2.5% to $0.1508, and Cardano (ADA) lost 1.4% to $0.427. Outside the top 10, Zcash (ZEC) dropped 8%, while newcomer Monad (MON) slid 13% as speculative flows rotated out of high-beta tokens.
