Bitcoin jumps sharply, breaks above $91,000

The world’s largest digital asset by market valuation is trading around $91,300, up 4.3% over the past 24 hours

Bitcoin (BTC-USD) jumped sharply on Tuesday, breaking above $91,000 as expectations grow that U.S. president Donald Trump could name a more dovish central bank chair before the Christmas holidays.

The world’s largest digital asset by market valuation is trading around $91,300, up 4.3% over the past 24 hours. The move marks one of bitcoin’s (BTC-USD) strongest daily gains in weeks after a stretch of volatile trading.

The broader crypto market also rose. Global digital-asset market capitalisation increased 3.5% to $3.2 trillion, recovering only a small portion of last week’s sharp declines.

Fuelling the latest bounce was latest commentary from US treasury secretary Scott Bessent, who said there is a “very good chance” president Trump will announce his pick for the next central bank chair before Christmas.

So, we’re going to have the last interview in the second round today. We got five very strong candidates, Bessent told CNBC, adding that the process is “moving along very well.”

Current central bank chair Jerome Powell’s term ends in May. Markets have increasingly priced in the possibility that Trump will select a more dovish replacement, raising hopes for earlier or deeper interest-rate cuts.

Traders are now assigning a nearly 85% possibility of a December rate cut, helping to boost risk assets from equities to cryptocurrencies.

Bitcoin’s (BTC-USD) recent stability around the high $80,000s had already reflected a mild improvement in risk sentiment. Central bank commentary has shifted slightly toward easing, with more officials signalling willingness to support cuts. Investors are now watching upcoming US jobless-claims figures and the ADP payroll report for hints on how quickly the bank may pivot.

However, several headwinds remain. Credit risk in AI-linked technology names has been creeping higher, with widening credit default swaps pointing to cooling enthusiasm across the sector.

Concerns about the pace of AI-related spending, particularly rising inventories and receivables at Nvidia, have also drawn investor attention. This matters for cryptocurrency investors because bitcoin (BTC-USD) and major altcoins often move in lockstep with the Nasdaq and other major equity indices.