Overview
- Bitcoin traded around $91,000 after rebounding from lows near $80,000 and remains roughly 28% below October’s record near $126,000.
- Coinglass reported roughly $240 million in short liquidations during the move, a burst that helped extend the bounce.
- The $88,000–$90,000 band is acting as the immediate battleground with additional resistance flagged near $94,000–$95,000, while options open interest is clustered in $100,000 calls against protective $80,000–$85,000 puts.
- ETF flows showed mixed signals, with fresh inflows to BlackRock’s fund even as US spot Bitcoin ETFs have shed about $3.6 billion in November.
- On-chain and venue data point to persistent sell-side supply, including a negative Coinbase Premium and rising whale deposits to exchanges, leaving the rally vulnerable in thin holiday liquidity.