Overview
- The Coinbase Premium Index turned positive for the first time since late October, signaling renewed U.S. dip‑buying as BTC trades near $91,000.
- Glassnode and market maps show dense sell supply at $93,000–$96,000 with a secondary band around $103,000–$108,000, creating hurdles for any push toward $100,000.
- Spot and on‑chain transfer volumes have fallen during the rebound, with analysts warning the bounce lacks confirmation without a decisive break above roughly $95,000–$99,000.
- Spot bitcoin ETFs logged roughly $3.5 billion in November outflows, with mixed late‑month prints including a $117 million BlackRock IBIT withdrawal on a day of modest net inflows.
- Views split on next moves as BTIG touts a reflex rally toward $100,000 and on‑chain miner underpayment hints at an $80,000 local bottom, while Kalshi markets price lower odds of a $100,000 reclaim in 2025.