Bitcoin 
$86,989.86 After falling to $84,000 in the past few days, its price made a rapid recovery and reached approximately $93,000. This sudden rise marks a historic period not only in terms of price movement but also in terms of the return of institutional investors to the market. Analysis reveals that the strongest buying trend in three years has been observed in the permanent futures market.
A Historic Market Transformation
According to data shared by crypto analyst CoinCare, on December 2, the buying-selling rate on permanent futures exchanges increased to 1.17, and this rate reached its highest value since January 2023. This ratio shows that aggressive buying volume exceeds selling volume and confirms that buyers are getting ahead of the pressure in the current bull cycle. CoinCare considers this situation as an important sign that the markets have entered the expansion phase and emphasizes that structural capital flows have begun to increase.
One of the most important catalysts for this rise is that investment giant Vanguard offers Bitcoin, Ethereum, and more to its more than 50 million brokerage clients. 
$2,804.64allowing spot trading with XRP and Solana ETFs. This move, led by former BlackRock executive and new CEO Salim Ramji, has significantly expanded the pool of potential capital. Vanguard customers bought “immediately and en masse,” Bloomberg analyst Eric Balchunas said. Additionally, the improvement in macro liquidity conditions shows that the environment is becoming increasingly favorable for risky assets such as Bitcoin.
Market Expansion and Altcoin Effects
Bitcoin’s rapid recovery not only affected the BTC price; Ethereum price rose above $3,000 and Solana and Cardano 
$0.390406 Major altcoins such as posted double-digit gains. Even a small portion of Vanguard’s $11 trillion in assets under management heading into crypto ETFs could provide tens of billions of dollars of liquidity to the sector, according to XWIN Research Japan analysts. This amount could exceed the total inflows in the first year of U.S. spot ETFs and symbolizes crypto’s transition from a niche investment area to an institutionally accepted market.
However, analysts emphasize that despite the rise, systemic risks in the market are also being monitored, which is also seen in the small pullback in recent hours. Financial stress, especially in Japan, stands out as a risk factor that should be monitored carefully. All these indicators combined suggest that the current bull cycle is not yet nearing its end, and institutional ETFs, increased participation and improvement in liquidity conditions are supporting the expansion process.
In summary, Bitcoin and the crypto market are currently at an important turning point. Increasing institutional investor interest and new ETF applications show that the market has the potential to grow further in the coming months. For investors, this stands out as a process that requires a balance of opportunity and risk that must be carefully monitored.
