By Callum Keown

Bitcoin was trading higher early Thursday as the world's largest cryptocurrency battled back into positive territory for the year, continuing its recent recovery.

The price of Bitcoin was trading at $93,515 early in the day, up around 0.3% over the past 24 hours, according to CoinDesk data. That puts it 0.2% up in 2025. At one point on Monday the crypto fell to as low as $84,500.

"It still feels as though traders are uneasy about chasing the move here, and confidence in playing on the long side remains fragile," Pepperstone analyst Chris Weston said. "Either way, the price action is certainly more constructive, and it feels as though we could push into the $96-$98k range in the near term."

Ethereum, the second largest crypto, also continued to rebound and was trading at $3,204 -- up close to 5% over the past 24 hours. Solana was rising 1.3%, while popular altcoin XRP slipped 0.7%.

Increasing confidence that the Federal Reserve will cut interest rates next week has been supporting the crypto recovery in recent days. Traders are pricing in an 87% chance of a quarter-point rate cut on Dec.10. Lower borrowing costs tend to support crypto assets, making them more attractive relative to lower-yielding assets.

Write to Callum Keown at callum.keown@dowjones.com

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December 04, 2025 04:59 ET (09:59 GMT)

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