Bitcoin moves closer to $90,000 as risk sentiment improves

Bitcoin has struggled to break decisively above the $90,000 mark, with traders citing cooling demand from institutional vehicles and cautious positioning ahead of the year-end holiday period

Bitcoin rose slightly on Monday, moving closer to the $90,000 level after a weekly loss, as broader markets showed improved risk sentiment.

The world’s largest cryptocurrency last traded 2% higher at $89,900.0 by 14:48 GMT.

Bitcoin dropped 2% last week, remaining in tight ranges amid thin liquidity.

Bitcoin has struggled to break decisively above the psychologically important $90,000 mark, with traders citing cooling demand from institutional vehicles and cautious positioning ahead of the year-end holiday period.

Market risk sentiment improved elsewhere. Gold prices surged to new all-time highs on Monday, driven by strong demand amid rising expectations that the U.S. central bank will cut interest rates next year after a softer-than-expected inflation print.

Global stock markets gained, with Asian equities opening higher, as investors anticipated improved liquidity and a potential year-end rally.

Analysts point to slowing ETF inflows and mixed sentiment around digital assets as factors keeping the market range-bound.

JPMorgan Chase is exploring whether to offer cryptocurrency trading services to its institutional client base, Bloomberg News reported on Monday, highlighting the expanding role of major Wall Street banks in digital assets.

According to the report, the U.S. lender is reviewing potential opportunities within its markets division as it looks to broaden its involvement in cryptocurrencies. Options under consideration could include spot trading as well as derivatives linked to digital assets, it said.

Any potential rollout remains at an early stage and would hinge on client demand for specific products, the report added. No final decisions have been made.

If the plans move forward, JPMorgan would become one of the highest-profile global banks to actively consider offering crypto trading services to large institutional investors.