Overview
- Bitcoin briefly fell under $94,000 before hovering near $95,000, with the Crypto Fear & Greed Index at 10, a level consistent with extreme fear.
- U.S. spot bitcoin ETFs recorded about $870 million in net outflows on Thursday, one of their largest daily withdrawals, which traders linked to additional selling pressure.
- Options positioning has turned defensive, with puts at $85,000–$90,000 in high demand and short-dated implied volatility rising, a setup that can force dealer hedging and accelerate downside.
- Key technical warnings include a break below the 365‑day moving average and a developing death cross, with analysts eyeing potential supports around $92,000, $89,000–$91,000, and even near $83,500 if weakness extends.
- Market depth has thinned to roughly $535 million from about $766 million since early October and risk-off moves in equities have weighed on crypto, while Michael Saylor signaled Strategy will detail a new bitcoin purchase update next week.