Bitcoin briefly surpassed $91,000 on Dec. 3 after former White House economic advisor Kevin Hassett emerged as a potential Federal Reserve chair nominee, Trump said at a cabinet meeting. U.S. tech stocks rose alongside the cryptocurrency on market expectations that a Fed leadership change in June could accelerate monetary easing. A BiyaPay analyst noted sustained easing expectations—driven by peak interest rates and improving liquidity—could benefit technology and crypto assets, though volatility may rise if employment or inflation data disappoint.

Strategy is engaging with MSCI regarding potential exclusion from its indices, with a decision expected on Jan. 15, Michael Saylor said. The company is currently a constituent of the MSCI USA and MSCI World indices, with a portion of its market cap linked to benchmarks through passive instruments such as ETFs. A JPMorgan report from last month indicated that if other index providers follow suit with exclusion, it could trigger outflows of up to $8.8 billion. Strategy's stock has declined over 37% this year, which Saylor attributed to the company's leveraged exposure to Bitcoin, noting that "if Bitcoin drops 30%, 40%, the stock will fall more because the equity itself is leveraged."

Bitcoin traded around $90,000 on Dec. 3 after rebounding 5% from $86,000 earlier in the week, QCP Capital said in its daily market note. Futures markets have priced in a 90% probability of a 25 basis point rate cut at next week's FOMC meeting, which will lack new CPI or NFP data. Prediction markets show approximately 85% odds of Kevin Hassett becoming the next Fed Chair, with confirmation expected in early 2025 as current Chair Powell's term ends in May. MicroStrategy raised approximately $1.4 billion through equity issuance over the weekend, extending its operational runway to about 21 months while lifting its mNAV to roughly 1.14, QCP noted.

Bitcoin held support at $89,923 following a strong rally on Dec. 2, on-chain analyst Murphy said. The 4-hour chart deviated significantly from the standard line at $89,923, with price reaching the fourth expected level and making further aggressive gains difficult. The daily chart remains below a bearish trendline but is approaching $93,958, where a breakout could reverse momentum with targets at $95,604 and $99,108.

Bitcoin pulled back after briefly crossing $93,000 on Dec. 3, raising concerns of a false breakout, Bitunix analysts said. The cryptocurrency now tests support at $90,000–$91,000, with resistance at $93,200. Bitcoin ETFs recorded net inflows of $58.5 million, contrasting with Ethereum ETF outflows of $9.9 million. Macro uncertainty rose as Trump said he plans to announce a new Federal Reserve chair early next year, with market speculation on dovish candidate Hassett and geopolitical tensions from potential U.S. military actions in Venezuela.

Address 0x4321 closed its 20x leveraged Bitcoin short position on Dec. 3, incurring a $3.2 million loss, lookonchain data show. The address had opened the short with 447.38 BTC ($38.67 million) at $86,373.6, with liquidation set at $92,884. Address 0xfB66 maintains a 15x leveraged long position of 300 BTC ($25.9 million) entered at $84,736.9, currently holding over $2.5 million in unrealized profit.

Liquid Capital founder Yi Lihua said on Dec. 3 the crypto market's 60-day downturn may be ending, with Bitcoin returning to $93,000 and BCH hitting recent highs, despite ETH lagging broader gains. The prolonged decline stemmed from liquidity constraints following events on Oct. 11, four-year cycle dynamics, Japan's rate hike, and U.S. government shutdown risks, but these headwinds have now been absorbed, he noted in a social media post. Yi maintains a positive outlook on subsequent market performance, citing expectations of rate cuts and crypto-friendly leadership appointments at both the SEC and Federal Reserve.

Polymarket prediction markets show a 51% probability for Bitcoin to reach $100,000 again before year-end, data on December 3 show. The platform separately lists 17% odds for BTC hitting $110,000 and 30% probability of falling below $80,000 during the same timeframe.

Bitcoin briefly returned to $92,000 and Ethereum reclaimed the $3,000 level on December 3, recovering losses from the December 1 sell-off, BlockBeats reports. Vanguard, the world's second-largest asset manager, began allowing its 8 million self-directed brokerage clients to trade BlackRock's spot Bitcoin ETF, marking the firm's first crypto offering. Bank of America recommended interested investors allocate 1%-4% to digital assets. Trump strongly hinted at a press conference that Hassett would succeed Fed Chair Powell, criticizing Powell's interest rate policy and fueling market expectations for crypto-friendly dovish Fed leadership. The Federal Reserve officially ended quantitative tightening on December 2, with liquidity easing expectations gradually materializing despite some views suggesting effects may appear in early 2025.