Overview
- Bitcoin is consolidating in the high‑$80,000s, recently around $88,900, with momentum soft and intraday ranges tightening ahead of this week’s FOMC decision.
- Coinbase Institutional and K33 Research say a December rebound is plausible, citing improving liquidity and high probabilities for a 25 bp Fed cut priced near 86%–93%.
- Glassnode reports on‑chain stress akin to early 2022, with about 7.1 million BTC in loss, weakening spot demand, and reduced derivatives risk appetite as spot ETFs flipped to net sellers in November.
- The Coinbase Premium briefly turned negative before rebounding to neutral/positive, open interest fell across exchanges, and SOPR near 1.35 signals a profitability reset that some analysts view as bottom‑forming.
- Technicians flag support around $84,000–$87,000 with downside risk toward the low‑$80,000s, while others see recovery potential toward $92,000–$100,000, making the Dec. 9–10 Fed meeting a near‑term catalyst.