Overview
- Bitcoin fell to roughly $89,000 for the first time in seven months before a modest bounce, leaving the token about 25%–30% below its October record and negative year to date.
- Rising skepticism about a December Fed cut and a broader equity wobble, particularly in tech and AI, reduced appetite for risk assets.
- Spot bitcoin ETFs have recorded approximately $1.8 billion in net outflows since November 12, while an early‑October leverage washout of roughly $19 billion continues to weigh on liquidity.
- Bearish technicals strengthened as bitcoin lost key moving averages and formed a death cross, with options hedging concentrated at $85,000 and $80,000 strikes.
- Crypto market value has shrunk by about $1 trillion, Ether trades near $3,000 and is down roughly 40% from its August peak, fear gauges hit “extreme,” and Standard Chartered warns many corporate BTC treasuries tip underwater below $90,000.