Bitcoin continues to trade below $90,000, struggling to recover after several days of heavy selling and aggressive long liquidations. Sellers keep pushing price lower, and bulls fail to reclaim momentum, creating a market environment filled with uncertainty and fear. Every attempt to bounce meets immediate resistance, showing how much control bears currently hold.

Data shared by Axel Adler shows a clear shift in derivatives pressure toward buyers. The liquidation dominance oscillator now sits at 32%, one of its highest readings in recent years. This level signals that leveraged bulls keep taking the majority of the damage, with long positions consistently wiped out as volatility rises. Instead of absorbing the drawdown, many traders continue to unwind or get forced out of their positions.

These repeated long liquidations fuel deeper downside moves and block any meaningful recovery attempts. The market now watches closely to see whether this wave of forced selling will continue dragging Bitcoin lower or if the pressure is finally reaching exhaustion.

Long Liquidations Dominate as Bitcoin Faces Renewed Downside Pressure

Adler explains that the liquidation dominance oscillator measures the ratio between long and short liquidations across the derivatives market. When the indicator prints positive values, shown as green bars, long positions take the bulk of the damage.

Negative values reflect a dominance of short liquidations. Bitcoin’s current reading of 32% stands out as one of the highest levels seen in the last three years, highlighting how aggressively bulls have been forced out during this correction.

November illustrates this perfectly. The market saw three separate waves of long liquidations, each exceeding $400 million. Every one of those spikes aligned with a sharp acceleration in Bitcoin’s price decline, reinforcing how leveraged buyers repeatedly amplified downside momentum. Rather than stabilizing the market, each flush created more selling pressure and triggered deeper unwinding across futures platforms.

The most recent liquidation wave reached $221 million, hitting the market right as Bitcoin attempted a short-term recovery. That flush immediately reversed the bounce and dragged BTC back down to the $86,000 region, erasing nearly all of last week’s gains. The persistent dominance of long liquidations shows that bulls remain under heavy stress—and until this dynamic eases, Bitcoin will struggle to build sustainable upside.

Bitcoin Market Searches for a Higher Time-Frame Floor

Bitcoin’s weekly chart shows the market pressing into a critical support zone after weeks of heavy selling. The price has dropped from the $115,000 region to the $86,000–$88,000 range, where it now interacts directly with the 100 SMA. This moving average has served as a key structural support in previous cycles, and Bitcoin’s current test of it will likely determine whether the broader uptrend holds or breaks down further.

The recent candles highlight intense volatility. Bitcoin briefly dipped to nearly $84,000 before buyers stepped in, forming a lower wick that shows early attempts to defend this level. However, the rebound remains shallow, and the 50 SMA continues to slope downward — a sign that short- and mid-term momentum still favors sellers. For bulls to regain control, BTC needs to reclaim $95,000 on a weekly closing basis.

Volume adds weight to the bearish pressure. Selling spikes dominate recent weeks, revealing a mix of forced liquidations and fear-driven exits rather than healthy profit-taking. As long as BTC trades below the 50 SMA, the market remains vulnerable to deeper retracements.

If the 100 SMA fails to hold, the next major liquidity zone sits near $70,000–$72,000, aligning with previous consolidation and the long-term 200 SMA. The next weekly close will be decisive.

Featured image from ChatGPT, chart from TradingView.com

While the crypto market bounces from last week’s correction, Bitcoin (BTC) is attempting to reclaim a crucial area as support to continue its recovery rally. As the flagship crypto faces some resistance, some market watchers have suggested that this week’s close may be key for its end-of-year performance.

Bitcoin Faces Rejection Ahead Of November Close

Bitcoin has retested a crucial resistance level for the first time in a week, hitting a one-week high of $93,092 on Friday morning before retracing. The flagship crypto has failed to hold crucial support levels throughout the November corrections, trading below $100,000 for nearly two weeks.

A week ago, BTC plunged below $90,000 during the latest market correction, reaching a seven-month low of $80,600. However, the cryptocurrency led this week’s broader recovery, reclaiming key levels over the past few days.

Amid its recent performance, some market observers have noted that Bitcoin is currently retesting a crucial re-accumulation region, between $82,000 and $93,000, where the price consolidated after previous pullbacks, including the Q1 market correction.

Analyst Rekt Capital highlighted that BTC rebounded more than 7% from the local bottom and has revisited the range high resistance during Friday’s recovery. Now, Bitcoin is attempting to hold the high zone of its local range, retesting the $90,000-$91,000 area as support after being rejected from the key resistance.

Previously, he pointed out that last week’s weekly close aligned with the flagship crypto’s monthly range, setting the stage for a potential floor around the $86,000 area, which would develop a new range between this level and the $93,000 resistance.

To the analyst, Bitcoin must close the week, which also coincides with November’s monthly close, above $93,5000 and turn this level into support if it wants to further build on its newfound momentum and potentially revisit its two-month downtrend line, which currently sits near the $96,000 mark.

“The ~$93500 level happens to be a Four-Year Cycle level. History suggests price should be able to find a way to 12-month close above ~$93500 to finish 2025 green,” Rekt Capital added on X.

$98,000 Rally or $88,000 Drop Next?

Market watcher Ted Pillows discussed BTC’s short-term future as it faces some resistance around the $92,000-$93,000 levels. To the analysts, reclaiming this area could propel the price towards the $98,000-$100,000 barrier in the coming weeks.

On the contrary, he suggested that failing to reclaim this level will send Bitcoin’s price below the $88,000 mark. Earlier this week, Ted warned that this was one of the most important levels to reclaim and hold as support in the short term, as a rejection from this area could trigger a significant drop below the recent lows.

Similarly, Daan Crypto Trades noted that the constant sell-off of the past few weeks has created “a ton of marginally lower highs, creating such a big liquidity pocket” between the $97,000-$98,000 zone.

This region also aligns with key horizontal price levels in bigger timeframes, making it a “good area to watch,” as BTC continues to consolidate in a relatively tight range.

The trader considers that if BTC’s price breaks down, the $88,000 mark could be a good place for a higher low. However, if the price holds above the $91,800 level, it may trigger another retest of the $93,000 resistance.

Ultimately, He warned that the market could likely see a “Choppy environment in the short-term surrounding Thanksgiving, which always sees pretty low volume & liquidity.”

As of this writing, Bitcoin is trading at $90,500, a 1.1% decline in the daily timeframe.