Crypto Rebounds with XRP, SUI Outperforming as Bitcoin Clears $89K; Trader Notes Heavy Resistance Near $100K

Expectations for a December Federal Reserve rate cut strengthened on Monday after San Francisco Fed President Mary Daly signaled support for easing policy, giving crypto markets additional momentum following a weekend rebound.

Bitcoin (BTC) extended its recovery, climbing more than 10% from Friday’s lows just above $80,000 and briefly surpassing $89,000 during U.S. trading hours. It later traded around $88,800, up 1.4% on the day. Ether (ETH) advanced 4.4% to near $3,000, mirroring gains in the CoinDesk 20 Index.

Crypto-adjacent equities also rallied, led by miners tied to AI infrastructure. Amazon’s newly announced $50 billion investment into U.S. AI and supercomputing capacity sparked strong interest in firms positioned to benefit from high-performance computing demand. CleanSpark (CLSK) and Cipher Mining (CIFR) surged 18%, while Hut 8 (HUT), Bitfarms (BITF), IREN, HIVE, and TeraWulf (WULF) all posted double-digit increases.

Digital asset treasury companies—one of the hardest-hit categories during recent volatility—also staged a sharp rebound. BitMine (BMNR) jumped nearly 20%, Solana Company (HSDT) gained more than 16%, and AVAX One (AVX) added 10.4%. Bitcoin treasury firms Strive (ASST) and MetaPlanet (MTPLF) advanced 10.7% and 8.7%, respectively, while major corporate holder MicroStrategy (MSTR) climbed 5%.

The upswing coincided with a broader move higher in U.S. equities. The Nasdaq gained 2.6%, and the S&P 500 rose 1.5%, reversing a portion of last week’s sell-off.

Markets grew more confident in a December policy shift after Daly told the Wall Street Journal she supports cutting rates next month, pointing to ongoing risks in the labor market. Her comments carry additional weight given her alignment with Chair Jerome Powell. According to CME FedWatch data, traders now price an 85% chance of a 25-basis-point cut at the Dec. 10 meeting—up from 42% just a week ago.

$100K Still a Major Test

Despite improving sentiment, analysts caution that bitcoin’s rally is approaching a significant resistance zone.

“The market finally looks positioned for consolidation after being hit by the macro unwind,” said Jasper De Maere, OTC trader at Wintermute. He highlighted healthier spot activity, lower leverage, and neutral-to-negative funding rates as signs of a reset market structure.

With excess leverage flushed out, De Maere expects the recovery to continue—but in a steady, measured climb, rather than an explosive move through the $100,000 level.