The cryptocurrency market experienced a surge as traders anticipate a potential Santa Claus rally, coinciding with significant Bitcoin and Ethereum options expiries. Bitcoin's price reached $89,000, contributing to a total market capitalization increase to $2.9 trillion. Futures open interest rose by 0.50% in the past 24 hours, surpassing $127 billion. Despite the positive momentum, the fear and greed index indicates growing optimism, yet Bitcoin and Ethereum remain below critical technical levels. Analysts warn that the current rally might be a dead-cat bounce. Meanwhile, the Bank of Japan is expected to maintain steady interest rates, which could further support risk assets.