Is Bitcoin going back up? BTC price watchers might be a bit less ‘fearful’ this week

Only a week after experiencing a dreaded “death cross,” and subsequently seeing its value fall to less than $81,000, Bitcoin is showing some signs of recovering.

On Monday, BTC’s price topped $89,000, and as of early Tuesday, are hovering around $87,500.

To be clear, the slump is far from over—the coin saw its price top $124,000 just last month—and no one can predict what will happen next, but it’s a clear upswing in momentum.

All told, when Bitcoin bottomed out at $81,000, it had fallen around 35% off its high. There were several reasons for the selloff, including outflows from large institutional investors and broader economic uncertainty, among other things.

It was a wipeout of around $1 trillion in market value. 

Sentiment may be on the upswing

As for this week, it’s anyone’s guess how much momentum the cryptocurrency will have, but investors appear to be felling a little better.

The Crypto Fear and Greed Index from CoinMarketCap, a sentiment indicator for the crypto market, was at 15 on Tuesday.

That’s still in the “extreme fear” portion of the spectrum, but it’s up from low pint of 10, where the index was on November 21.

For context, the index hit a high point for 2025 back in May, tallying a 76 and putting it in the “greed” spectrum. At the time, BTC was trading for around $111,000.

So there has been a wild swing in both momentum and sentiment within the past six months.

And though Bitcoin has regained its footing a bit over the past week, the question is whether that momentum can be sustained and if values can start pushing back toward all-time highs.

What’s next for crypto?

Perhaps the next catalyzing moment for the crypto market will come after the Federal Reserve’s December meeting next month.

The Fed will meet on December 9 and decide whether to cut interest rates further or hold steady—a decision that has been made more difficult by a lack of economic data (such as jobs reports) in recent months due to the government shutdown.

The Fed and its chair, Jerome Powell, have been trying to balance concerns about persistent inflation and a weakening labor market—and doing so without data has it flying blind.

Despite that, the odds of a rate cut appear to be the rise, and another cut could spur investors to put more money in stocks and the crypto markets.

This story is developing…

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