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Bitcoin’s back above $90K with traders setting their sights on the yearly open at $93.5K. A strong equity bounce and rising Fed cut odds have reignited risk appetite after BTC found a solid local bottom at $80K last week. But seasonal trends aren’t on bulls’ side—December’s track record is mixed—and all eyes are now on the Fed’s December 12 meeting to confirm the next macro push.

Meanwhile, South Korea’s biggest exchange just took a major hit. Upbit lost $37M in a targeted Solana asset exploit and later admitted a severe vulnerability in its wallet infrastructure. While no direct link has been made, the flaw could’ve let attackers infer private keys from transaction data—a nightmare scenario. Withdrawals are frozen, and patchwork is underway.

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Bitcoin climbs toward yearly open at $93.5K

Bitcoin has rallied nearly 15% from last Friday’s local low of $80K, hovering near $92K. Traders are watching the $93.5K level—BTC’s yearly open—as a potential breakout zone heading into December.

Fed rate cut odds have climbed to 86% ahead of the December 12 meeting, fueling bullish momentum across risk assets. The Fear and Greed Index is still stuck at 20/100, but sentiment is improving fast. One concern: December seasonality leans bearish, especially after red Novembers.

Upbit hit by $37M Solana exploit, wallet flaw discovered

South Korea’s Upbit exchange froze withdrawals after hackers drained $37M worth of Solana-based assets. The exploit triggered emergency protocols, and Upbit has since moved funds to cold storage and frozen over $8M in stolen tokens.

A deeper inspection revealed a serious wallet vulnerability that may have allowed attackers to infer private keys from transaction data—a rare and dangerous flaw. While it’s unclear if the bug caused the breach, Upbit has pledged to cover all losses and overhaul its security stack.