Bitcoin held steady around $92,500 (approximately Rs. 83.1 lakh) on Wednesday as investors closely watched the US Federal Reserve’s upcoming rate decision scheduled for December 11 at 12:30am IST. The cryptocurrency briefly climbed to $94,000 (around Rs. 84.5 lakh) earlier in the day before easing slightly. This movement was supported by renewed whale activity and tightening supply. Ethereum (ETH) traded at $3,300 (roughly Rs. 2.98 lakh), with Bitcoin priced near Rs. 83.2 lakh and Ethereum around Rs. 2.98 lakh in India, according to a local crypto tracker.
Altcoins also saw gains in the past 24 hours. Solana (SOL) traded at $138 (around Rs. 12,470), XRP was priced at $2.08 (roughly Rs. 186), and Binance Coin (BNB) hovered near $890 (around Rs. 80,000). Dogecoin (DOGE) touched $0.14 (approximately Rs. 12.5). Analysts note that these movements reflect traders positioning themselves ahead of the Federal Reserve’s decision, which could impact overall market sentiment.
Akshat Siddhant, Lead Quant Analyst at a crypto firm, said, “Over 403,000 BTC leaving exchanges this week has tightened supply, making prices more sensitive to renewed demand. Although a 25bps cut is widely expected, markets are more focused on the Federal Reserve’s guidance for 2026.” Similarly, Riya Sehgal, Research Analyst at a trading platform, added, “Ethereum’s rally is being driven by institutional accumulation and declining exchange reserves, as only 8.7% of ETH now sits on exchanges and staking inflows exceed 40,000 ETH daily. Liquidity remains thin, if the Federal Reserve’s delivers a dovish signal, it could trigger a liquidity-driven rally across the crypto market.”
Analysts say Bitcoin’s current price range shows a market waiting for policy clarity while being supported by tightening supply, institutional positioning and improving sentiment. A rise above $94,000–$95,000 (around Rs. 84.6 lakh–Rs. 85.2 lakh) could pave the way for stronger gains, whereas failure to hold $90,000 (roughly Rs. 80.8 lakh) may keep volatility high in the near term.
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