Overview
- Bitcoin bounced to roughly $86,000–$88,000 after dipping near $82,000 late last week, recovering part of a 30%–36% drop from October’s record.
- U.S. spot bitcoin ETFs posted about $1.22 billion in net outflows last week and roughly $3.5 billion to $4.3 billion for November, though Friday saw $238 million of net inflows.
- Derivatives leverage has reset, with CryptoQuant noting the steepest 30‑day open‑interest decline of this cycle (about 1.3 million BTC on Binance) following cascade liquidations.
- On‑chain data show heavy profit‑taking, including roughly 20,000 BTC moved to exchanges in a week and signs of long‑term holder distribution, while funding rates turned negative and demand for $80,000 puts increased.
- Fed rate‑cut odds for December rebounded to around 70%, and analysts say selling pressure has eased, though many still caution for a secondary, weaker down‑leg and a choppy $80,000–$90,000 range.