BTC Recalibrates After Fed Cut as AI Correlation Deepens, Says Nansen
Markets are stabilizing following the Federal Reserve's rate cut as traders reassess the data-dependent policy implications for liquidity into early 2026. According to Nansen, revised forward guidance, new liquidity tools, and shifting cross-asset dynamics are creating a more complex environment for digital assets.
Bitcoin briefly topped $92,000 before retreating, mirroring risk-off moves seen after the Federal Open Market Committee (FOMC) meeting. The Fed's actions, including Treasury bill purchases and removal of the cap on the standing repo facility, could boost liquidity in the first quarter of 2026.
The post-FOMC dip in Bitcoin coincided with sharp moves in large U.S. AI stocks following Oracle's earnings release. The AI sector's earnings and capital expenditure growth remain strong, though valuations have reached levels that are difficult to justify as 2026 approaches, according to Nansen. Bitcoin has shown a rising correlation with AI-themed equities, a relationship expected to persist until a meaningful sell-off clears sector valuations.
Key resistance for Bitcoin remains at $91,000, with a sustained trading period above this level over weeks required to confirm an uptrend. Derivatives data reveal record high open interest and elevated leverage risk. Year-end positioning suggests downside protection as options imply a 48% probability of Bitcoin reclaiming $91,000, with mildly positive futures funding rates and leveraged longs not currently dominating.
In September 2025, Nansen announced the launch of Nansen AI, a mobile agent designed to interact with on-chain data.
