Bitcoin prices surged to $94,625, reaching a three-week high on Tuesday, causing traders to expect higher prices. Social media calls for “higher” and “above” exploded after the jump. However, prices have retreated to $92,400, leaving analysts uncertain about the next move.

Bitcoin’s recent surge may face challenges after the Federal Reserve’s interest rate decision on Wednesday. There is an 88.6% probability of a 0.25% rate cut, affecting Bitcoin’s rally. Any hesitation on future rate cuts could be bearish for Bitcoin and crypto markets, with a 21.6% probability of another cut in January.

A long-term Bitcoin investor suggests the recent price move to $94,000 was “pure manipulation.” The sudden spike appears engineered, with thin order books making it easy to push prices up. Massive market buys were clustered within minutes, followed by immediate stalling, indicating a classic engineered pump to create FOMO.

Read more at Cointelegraph

Bitcoin hits new all-time high of $64,863 as crypto market cap surpasses $2.3 trillion. Ethereum also surges to $2,500. Experts attribute the rise to increased adoption by institutional investors and growing interest from retail traders. The future of cryptocurrencies remains uncertain amidst regulatory concerns and market volatility.: Bitcoin Hits 3-Week High At $94,625 Amid Sentiment Shift