Overview
- Bitcoin fell to the upper $89,000s for the first time since April, down roughly 30% from October’s record and now in a bear market by standard definitions.
- More than $1 billion in leveraged futures were liquidated over 24 hours as volatility jumped and options flows tilted more defensively with a stronger put bias.
- Spot Bitcoin ETFs recorded about $2.59 billion in November outflows, reversing a key source of institutional demand and adding to selling pressure across crypto.
- Market sentiment slid to “extreme fear,” with Fear & Greed readings near cycle lows, and analysts flagged support zones around $87,500 and potentially $82,000–$85,000 if weakness persists.
- Macro risk-off factors weighed on digital assets as Fed rate-cut odds fell, big-tech shares retreated ahead of Nvidia results, and crypto-linked stocks like miners and exchanges declined.