Bitcoin rebounds to $91,000 levels on hopes of Fed rate cut

Bitcoin climbed to a peak of $126,000 in October before tumbling to a low of $75,000 level in April.

Bitcoin stood just above $91,114 on December 8 morning, gaining 1.86 percent from the previous session, on growing hopes of a rate cut by the US Federal Reserve this week. In the morning session,  the world's largest cryptocurrency fell to $89,326 but recovered to hover above $91,000 levels.

Traders are now pricing in an 88.4 percent chance of a December rate cut by the Federal Reserve.

Bitcoin climbed to a peak of $126,000 in October before tumbling to a low of $75,000 level in April.

The volatility has been observed across other tokens, too, with ETH up 2 percent, BNB 1.32 percent, SOL 0.81 percent, ADA 1.50 percent, while USDC fell 0.01 percent  in the past 24 hours.

Check out prices of top cryptocurrencies on December 8 at of 7.22 am: