Overview
- Bitcoin is consolidating in the high-$80,000s after a failed push toward $94,000, with near-term supports around $87,000–$88,000 and a deeper cushion flagged near $83,000–$84,000.
- On-chain data show roughly $1.705 billion in realized losses versus about $605 million in gains and a SOPR near 1.35, indicating a profitability reset that often precedes either a rebound or further weakness.
- After heavy November withdrawals, U.S. spot bitcoin ETFs have posted inflows in eight of the past ten sessions, hinting at a cautious return of institutional demand.
- Traders are focused on the Dec. 9–10 FOMC meeting, with prediction markets assigning very high odds to a 25 bp rate cut and positioning for heightened volatility.
- Analyst views diverge: Peter Brandt warns a broadening top could pull prices toward the low-$80,000s or below $70,000, while K33 Research sees December as a potential entry window, and technicians note a break above $95,000 could set up a run toward $100,000–$107,000.