Bitcoin (BTC) remained steady above $91,000 on Friday, with crypto markets largely unchanged over the past 24 hours, reflecting subdued trading after Thursday’s U.S. Thanksgiving holiday.

Trader sentiment has improved from last week’s lows, with the fear-and-greed index rising to 22 — still in the “extreme fear” zone but signaling increased buying activity across large-cap tokens. BTC has now retraced roughly 61.8% of the November 11–21 drawdown, reclaiming the same Fibonacci level that previously acted as resistance. Holding this level could pave the way for a move toward $100,000, according to FxPro’s Alex Kuptsikevich.

“Bitcoin broke through $91K, hitting seven-day highs and reclaiming the classic 61.8% Fibonacci retracement from the mid-November collapse,” Kuptsikevich said. “If momentum holds, BTC could reach $100K and test higher round-number levels.”

Some analysts view the recent ~30% correction from the highs as a potential long-term entry point. K33 Research highlighted that BTC underperformed the Nasdaq in 70% of sessions over the past month, a deviation that historically signals local inflection points. Deribit data shows large traders leaning toward upside options in the $100,000–$118,000 range while remaining skeptical about BTC clearing $120,000 without stronger macro catalysts.

Elsewhere, Tether (USDT) came under renewed scrutiny after S&P Global Ratings downgraded it to “weak,” citing exposure to riskier assets including BTC, gold, and corporate credit. Tether’s reserves now include 116 tonnes of gold — comparable to the national holdings of Hungary or Greece — reflecting a broader trend of stablecoins diversifying collateral.

Altcoins remained mixed but are beginning to reflect the improved risk tone. Among major tokens, Ether (ETH) slipped 0.4% to $3,023, though it gained 7.7% over seven days. XRP dropped 0.8% to $2.20 but is up more than 10% for the week. BNB rose 0.3% to $897, Solana (SOL) fell 2% to $140, Tron (TRX) ticked up 1.4% to $0.2803, Dogecoin (DOGE) dropped 2.5% to $0.1508, and Cardano (ADA) lost 1.4% to $0.427.

Outside the top 10, Zcash (ZEC) extended its reversal with an 8% drop, erasing some of its earlier gains, while newcomer Monad (MON) slid 13% as speculative flows rotated out of high-beta tokens during consolidation.