Bitcoin Rebounds From $80,600 Low as Fed Officials Signal Potential December Rate Cut

Bitcoin fell to $80,600 on Nov. 21 at approximately 20:25 Beijing time before rebounding after dovish remarks from multiple Federal Reserve officials, BlockBeats reports. New York Fed President Williams said further rate cuts remain possible in the near term given the somewhat restrictive policy stance, while Fed Governor Bowman noted recent nonfarm payroll data leaned decidedly dovish. The statements shifted market expectations for a December rate cut back above 70%, with Bitcoin subsequently recovering to breach $86,000. On-chain data from CoinKarma showed Nov. 21 recorded the highest spot trading volume across major exchanges in recent periods, suggesting significant position turnover typical of short-term bottoms.