Bitcoin Magazine
Bitcoin Price Roars Above $91,000 as Wall Street Ramps Up Its Bitcoin Buying Plans
Bitcoin price ripped back above $91,000 on Tuesday, extending a powerful rebound as Wall Street institutions deepen their push into digital assets.
The bitcoin price traded at $91,089 at press time, up 8% over the past 24 hours. Trading volume surged to $78 billion, marking one of the strongest sessions of the past month.
Bitcoin price is now sitting just above its 7-day high of $89,966 and remains 7% above last week’s low of $83,989. The asset’s market cap stands at $1.79 trillion, rising 5% in a day as fresh institutional flows hit the market.
Momentum flipped sharply in the early morning session. BTC blasted through the $90,000 level after holding key weekend support zones.
The rebound comes at a moment when major banks and brokerages — long hesitant — are finally opening the gates to regulated Bitcoin exposure.
Banks and Wall Street affecting Bitcoin price
Bank of America is making its most aggressive move into digital assets yet. The bank will now allow its 15,000 wealth advisers to recommend a 1%–4% crypto allocation, a dramatic shift that brings one of the country’s largest institutions fully into the Bitcoin ETF era.
The change takes effect January 5, when the bank’s chief investment office begins formal research coverage of four leading Bitcoin ETFs:Bitwise BITB, Fidelity FBTC, Grayscale Bitcoin Mini Trust and BlackRock IBIT
Until now, advisers were barred from discussing Bitcoin unless the client initiated the conversation. That firewall is now gone.
Chris Hyzy, CIO for Bank of America Private Bank, said the bank is taking a “measured” approach, framing crypto as a thematic innovation play suitable only through regulated products. Conservative investors are expected to lean toward the 1% range, while higher-risk clients may approach 4%.
Bank of America’s move aligns it with peers that have already shifted. Morgan Stanley recommended a 2%–4% Bitcoin allocation in October. BlackRock has also argued that 1%–2% in BTC improves long-term portfolio efficiency.
Meanwhile, another big bank holdout just flipped. Vanguard, the second-largest asset manager in the world, will start allowing Bitcoin and crypto-linked ETFs and mutual funds on its platform starting today. More than 50 million brokerage clients will now gain access to crypto exposure for the first time.
The move is a major reversal for Vanguard, which for years called Bitcoin too speculative for long-term portfolios.
Bitcoin price analysis: Bulls fight back as analysts eye $75,000
The price action turns sharply higher today, but the broader picture remains tense. Bitcoin price has been in a two-month downtrend since peaking above $126,000 in October. The asset fell nearly 30% before finding support between $83,800 and $84,000, a zone traders defended repeatedly over the past week.
Last month’s close was bearish. November produced a large red monthly candle, erasing gains from April through June and confirming a bearish MACD cross on the monthly chart — a high-time-frame signal that historically precedes weak momentum for several months.
Key levels are now becoming clearer on the chart. Bitcoin price faces immediate resistance at $91,400, followed by $93,000 and $94,000. There is also heavy resistance between $98,000 and $103,000, which remains a major ceiling for the market.
Bulls managed to push the price above $90,000 today, but they still face strong overhead pressure throughout the $91,400–$94,000 zone.
On the downside, support sits first at $87,000, which aligns with the 0.146 Fibonacci level, followed by $84,000. Below that, deeper supports appear at $75,000 and the broader $69,000–$72,000 range. The next major support beyond that sits near $57,700.
If BTC loses $84,000 again with momentum, analysts from Bitcoin Magazine warn the path to $75,000 opens quickly.
The Federal Reserve’s December 9–10 meeting looms large. Markets are pricing an 80%+ chance of a 25 bps rate cut — a move that historically supports risk assets. A pause, however, could trigger another wave of selling.
At the time of writing, the bitcoin price trades at $91,039.
This post Bitcoin Price Roars Above $91,000 as Wall Street Ramps Up Its Bitcoin Buying Plans first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
