Overview
- BTC recovered from an intraday low near $82,000 and trades in the mid-$80,000s after its longest weekly losing streak since 2024.
- Derivatives positioning remains skewed long, linked by analysts to cascading liquidations, while a sharp open‑interest cleanup suggests a leverage reset.
- Options markets show heavier downside hedging with concentrated puts around $80,000–$85,000 and a persistent negative skew into December expiries.
- On‑chain data show roughly 20,000 BTC moved to exchanges in a week, including an 81,000 BTC spike on Friday, as selective whale buying of about 22,500 BTC provides only tentative support.
- US spot Bitcoin ETFs logged about $4.3 billion in net outflows over four weeks, and traders are watching upcoming Fed signals after a jump in odds for a December rate cut.