Bitcoin has reclaimed the $90,000 level following an intraday surge that reversed recent declines. The rally was accompanied by over $147 million in short position liquidations, data show. The cryptocurrency had dropped to the mid-$87,000 range in the prior 48 hours before buyers drove prices more than 3% higher.

Goldman Sachs has agreed to acquire Innovator Capital Management for $2 billion, adding $28 billion in assets under supervision and 159 ETFs to its platform. The transaction is expected to close in the second quarter of 2026. The deal will position Goldman Sachs among the top 10 global ETF providers and expand its cryptocurrency ETF holdings.

Strategy Inc. has accumulated 650,000 BTC after purchasing 130 coins at approximately $89,960 each, while establishing a $1.44 billion cash reserve to cover preferred stock dividends and debt obligations. The company's market capitalization stands at roughly $45 billion, about $10 billion below the $55 billion market value of its bitcoin holdings. The firm's stock has fallen 57% since October 6, raising questions about the sustainability of its acquisition strategy under current market conditions.

Bank of America has issued formal guidance advising wealth management clients to allocate 1%–4% of portfolios to digital assets through regulated Bitcoin ETFs. Starting January 5, 2026, over 15,000 advisors across Merrill Lynch, Bank of America Private Bank, and Merrill Edge will gain access to coverage on four Bitcoin exchange-traded funds. The guidance establishes a 1% minimum for conservative investors and a 4% ceiling for clients with higher risk tolerance.

Bank of America has revised its digital asset guidance, now recommending wealth clients include crypto exposure as a standard portfolio component. The bank advises allocations between 1% and 4% based on individual risk tolerance, shifting from its earlier position that treated crypto as an optional consideration investors could disregard.

Strategy, the business intelligence firm co-founded by Michael Saylor, announced on December 1, 2025, the creation of a $1.44 billion cash reserve alongside an expansion of its Bitcoin holdings to 650,000 BTC. The cash reserve, funded through at-the-market stock sales, is designated to cover preferred stock dividends and interest obligations for 21 months. The company also revised its FY2025 earnings guidance in response to Bitcoin price volatility.

The Federal Reserve ended quantitative tightening on December 1 and immediately deployed a $13.5 billion overnight repo operation. Analysts view the liquidity shift as a potential catalyst for risk assets, though a possible Bank of Japan rate hike in December could temporarily moderate gains. The move marks the first significant liquidity injection since the withdrawal phase began in June 2022.

Bloomberg Senior ETF Analyst Eric Balchunas challenged a Citi research note claiming U.S. spot Bitcoin ETF outflows directly correlate with price declines. Citi estimated each $1 billion in withdrawals corresponds to a 3.4% price drop. Balchunas argued the calculation ignores $22.5 billion in year-to-date inflows, which would imply a 77% price increase by the same logic.