Bitcoin traded just above $91,300 on Monday as Asian equities opened the week slightly higher ahead of a heavy run of central bank decisions, including a Federal Reserve meeting where markets have largely priced in a 25-basis-point rate cut.

MSCI’s Asia equity benchmark climbed about 0.2%, led by tech, while US futures and the dollar drifted lower.

Crypto markets followed the broader tone. Bitcoin rose 2% over the past 24 hours and is up more than 6% over the past week, extending last week’s rebound but meeting early resistance near the $94,000 area.

FxPro analyst Alex Kuptsikevich said Friday the latest recovery still fits within the corrective pattern, adding that price could push toward $98,000–$100,000 if momentum holds.

Ether gained 3% to trade near $3,135, outperforming most majors on the day and logging a 10.6% advance over the past week. BNB added 1%, Solana rose about 1.6%, Lido’s stETH climbed almost 3%, and XRP traded around $2.08 after a 1.2% uptick. Cardano led declines in the top tier, slipping about 1.4% on the day.

Underlying sentiment remains cautious despite the rebound. CryptoQuant’s Bull Score fell to zero for the first time since early 2022, a reading the firm associates with bearish cycle phases.

CEO Ki Young Ju warned that without new liquidity the market could drift into a deeper slowdown, with internal models flagging the $55,000–$70,000 range as probable territory next year.

K33 Research pointed to medium-term catalysts that could counter that trend, including expected 401(k) rule changes by early 2026 that may open retirement flows to bitcoin. Ethereum developers meanwhile completed the Fusaka hard fork, introducing upgrades aimed at scaling and network efficiency.

Broader macro conditions remain the key driver. Monday’s muted equity tone reflects the lack of fresh catalysts as traders wait for the Fed and evaluate whether easing will be enough to extend risk appetite.

Bitcoin’s recent pattern mirrors prior cycle pullbacks in 2013, 2017 and 2021, Kuptsikevich said, noting the market has already absorbed a significant two-month drawdown heading into the December policy window.