Bitcoin is trading near $90,000 after a modest rebound, driven by improved risk sentiment and a slight rise in equities. The probability of a December Federal Reserve rate cut stands at 85%, though macroeconomic conditions remain mixed with high inflation and a weak labor market. The Federal Reserve is divided on the rate cut decision, with four officials in favor, two neutral, and six opposed. Crypto ETFs are experiencing net outflows, and many digital asset products are trading below their net asset value. MicroStrategy's Bitcoin holdings are nearing breakeven, and its stock may face removal from the MSCI index. In the options market, Bitcoin's correlation with AI stocks is increasing, and the fear and greed index is declining. Technically, Bitcoin may encounter ETF-related selling pressure near $95,000, with the $80,000–$82,000 range serving as a key support level.