Bitcoin (BTC) remained above $91,000 on Friday, with crypto markets largely unchanged over the past 24 hours following Thursday’s U.S. Thanksgiving holiday.
Sentiment has improved from last week’s lows, with the fear-and-greed index rising to 22 — still in “extreme fear” territory, but signaling renewed buying interest across large-cap tokens. BTC has retraced roughly 61.8% of its November 11–21 decline, reclaiming a key Fibonacci level that previously acted as resistance. FxPro’s Alex Kuptsikevich said holding this level could pave the way for a move toward $100,000.
“Bitcoin broke above $91K, reaching seven-day highs and reclaiming the 61.8% Fibonacci retracement from mid-November,” he said. “If momentum continues, BTC could test $100K and higher round-number levels.”
Some analysts see the ~30% correction from recent highs as a potential long-term entry point. K33 Research noted BTC underperformed the Nasdaq in 70% of sessions last month, a rare deviation typically seen near local inflection points. Deribit data shows traders leaning toward upside structures in the $100,000–$118,000 range while cautious about surpassing $120,000 without stronger macro support.
Tether (USDT) came under scrutiny after S&P Global Ratings downgraded it to “weak,” citing exposure to BTC, gold, and corporate credit. The issuer now holds 116 tonnes of gold, roughly equivalent to Hungary or Greece’s national reserves.
Altcoins were mixed but reflected improving risk sentiment. Ether (ETH) slipped 0.4% to $3,023 but is up 7.7% weekly. XRP fell 0.8% to $2.20, up 10% on the week. BNB rose 0.3% to $897, Solana (SOL) fell 2% to $140, Tron (TRX) gained 1.4% to $0.2803, Dogecoin (DOGE) dropped 2.5% to $0.1508, and Cardano (ADA) fell 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.
