Bitcoin Rebounds Above $103K as Crypto Market Ends Volatile Week on a Positive Note

After a turbulent week in the crypto markets, Bitcoin (BTC) has regained momentum, climbing back above $103,000 on Friday — marking a 2% rise in the past 24 hours. Earlier in the day, BTC had dipped near the $99,000 level following a steep drop from over $110,000 earlier in the week. The recovery offers some relief to bullish investors after the digital asset’s sharp two-day plunge of nearly 10%.

Altcoins also joined the rebound. Ethereum (ETH) traded at $3,431, up around 4%, while XRP ($2.32) and Solana (SOL) at $162 gained roughly 5%. Dogecoin (DOGE) and Cardano (ADA) led the surge with impressive jumps of 12% and 9%, respectively. Despite these upticks, analysts view the current upswing as a short-covering rally following a week of heavy selloffs across the sector.

Macroeconomic data added another layer of intrigue to Friday’s market movements. The University of Michigan’s Consumer Sentiment Index fell sharply to 50.3 in November from 53.6 in October, matching lows seen during previous recessions. While long-term inflation expectations eased slightly to 3.6%, consumers still expressed growing concerns about weakening job markets and financial strain.

The unexpected drop in consumer sentiment could influence the U.S. Federal Reserve’s next move. After signaling a hawkish stance last week, policymakers may need to reconsider delaying further rate cuts at their December meeting. Meanwhile, pressure is mounting on Congress to address the ongoing government shutdown as economic uncertainty deepens.

As investors look ahead, Bitcoin’s ability to sustain momentum above the $100,000 mark could determine short-term market sentiment. For now, the crypto market is finding cautious optimism amid broader financial turbulence.