Bitcoin Surges to $92,000, Fed Rate Cut Speculation Increases!

Jakarta, Pintu News – Jerome Powell, Chairman of the Federal Reserve, chose not to discuss economic conditions or monetary policy in his opening speech at Stanford University. The event was a tribute to late economist and statesman, George Shultz.

“I want to be clear that I will not discuss current economic conditions or monetary policy,” Powell said. This was in line with expectations given that Powell has not commented on monetary policy since his October press conference stating the uncertainty of a December rate cut.

Fed Rate Cut Odds Increase

ISM Manufacturing PMI data released on Monday showed the manufacturing sector contracted for the ninth consecutive month. The November ISM Manufacturing PMI in the US was recorded at 48.2, declining to the lowest level in four months and below the prediction of 48.6.

The data showed a decline in orders and an increase in prices due to the impact of tariffs. The market now expects a Fed rate cut on December 10 with a chance of around 87% according to the CME FedWatch Tool.

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Bitcoin (BTC) climbs past $87K

Bitcoin (BTC) price has risen more than 2% in the last 24 hours, currently trading at $86,970. The 24-hour low and high were $83,862 and $87,325. Trading volumes remain high amid a buy-as-you-go sentiment among traders.

However, sentiment in the derivatives market remains mixed, according to CoinGlass data. Total open interest in Bitcoin (BTC) futures rose 0.25% to $57.70 billion in the last 24 hours.

Conclusion

Although Jerome Powell did not make specific comments on monetary policy, the market remains optimistic about the potential for further interest rate cuts. The rise in Bitcoin (BTC) prices suggests that crypto market participants continue to anticipate looser policies, which could support crypto asset prices going forward.

FAQ

What did Jerome Powell discuss in his speech at Stanford University?

Jerome Powell did not discuss economic conditions or monetary policy in his opening speech at Stanford University, which was a tribute to George Shultz.

How is the US manufacturing sector performing based on the latest data?

November ISM Manufacturing PMI data showed the US manufacturing sector contracted for the ninth consecutive month, with the index at 48.2, which was the lowest level in four months.

What are the chances of a Fed rate cut in December according to the CME FedWatch Tool?

The chance of a Fed rate cut on December 10 is about 87% according to the CME FedWatch Tool.

What is the current Bitcoin (BTC) price and how has it moved in the last 24 hours?

The current price of Bitcoin (BTC) is $86,970, with a gain of over 2% in the last 24 hours. The lowest and highest prices in that period were $83,862 and $87,325.

What is the derivatives market sentiment towards Bitcoin (BTC)?

Sentiment in the derivatives market for Bitcoin (BTC) remains mixed, with total open interest in Bitcoin futures rising 0.25% to $57.70 billion in the last 24 hours.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Coingape. Fed Chair Jerome Powell Speech: Bitcoin Climbs as December Rate Cut Odds Waver. Accessed on December 3, 2025
• Featured Image: Generated by AI