Bitcoin surged back above $90,000, aiming for its largest one-day gain since May. Currently trading at $90,339, marking a 6.7% increase. Ethereum and XRP also saw jumps, with ETH surpassing $3,000 and XRP trading at $2.14. Analysts are closely watching the Fed’s upcoming meeting for potential impact on market performance.

$157 million in Bitcoin short contracts liquidated amidst the rally. Trading volume doubled to over $92 billion. Ethereum surged nearly 10% ahead of the Fusaka network upgrade, while XRP climbed 7.3%. Analysts emphasize the fragile state of crypto markets and the Fed’s influence on year-end performance.

The U.S. central bank ceased its quantitative tightening program, injecting $13.5 billion to ease liquidity strains. Analysts predict a 91% chance of another 25 basis point cut by the FOMC. Market movements are closely tied to asset flows in and out of exchange-traded funds.

Bitcoin, Ethereum, and XRP ETFs rebounded, adding over $1 billion in the past week. Bitcoin ETFs received $8.5 million in net inflows, while Ethereum ETFs experienced a slight pullback. Solana funds saw $13.5 million in shares redeemed, indicating shifting investor sentiment.

Read more at Yahoo Finance: Bitcoin, Ethereum, XRP Spike a Day After Mass Sell-off