The Bitcoin price has had a mixed performance over the past week, with both sides of the market divide struggling to establish dominance. In the latest battle between the bulls and bears, the premier cryptocurrency appears to be succumbing to pressure from the latter group.

As this weekend approached, the Bitcoin price retreated from its latest local high of around $94,000 to beneath the psychological $90,000 level. This latest correction has prompted questions in the crowd, with investors wondering whether it is just a brief obstacle or the end of the recovery.

Why $80,500 Could Be The Next Local Low For BTC

In a December 5 post on the social media platform X, Alphractal CEO and founder shared insight into the latest Bitcoin price decline below $90,000. The on-chain expert revealed that losing the $89,800 level is the more relevant occurrence in the latest price downturn.

In a previous post on X, Wedson evaluated the likely trajectory of the Bitcoin price should it lose the $89,800 level. The crypto pundit revealed that losing this price mark could lead to an accumulation pattern for the bulls or a redistribution phase for the bears.

While the accumulation period for the bulls would initially coincide with lower prices, it eventually leads to a Bitcoin price return to above the latest local high. Meanwhile, a redistribution phase could see the bears push the flagship cryptocurrency to around the $70,000 mark.

According to the Alphractal CEO, the price of BTC also failed to hold the key on-chain levels, strengthening the probability of a broader price sideways phase. “Sideways action is the cause — the big pumps or dumps are just the effect,” Wedson had earlier stated in his previous X post.

Furthermore, Wedson noted that the next level to watch is $86,500, which, if lost, opens the very high possibility for the formation of a new local low around $80,500. This local low could provide a perfect spot for investors to buy the dip and enter the market.

Bitcoin Price Overview 

As mentioned earlier, the past week has been one of highs and lows for the premier cryptocurrency, plummeting to as low as $84,600 on Monday, December 1. After a shaky start to the month, the Bitcoin price recovered strongly to around $94,000 on Thursday, December 4.

As of this writing, the market leader is valued at around $89,415, reflecting an over 3% price decline in the past 24 hours. According to data from CoinGecko, the price of Bitcoin has been down by nearly 10% in the past year.

Spot Bitcoin ETFs (exchange-traded funds) are one of the biggest narratives and have been a game-changer in the cryptocurrency space in the past two years. With these investment products, people get to participate in the cryptocurrency market without having to directly own the digital assets.

Interestingly, one of the biggest winners—that often gets overlooked—has been the issuers, especially as the crypto industry has seen increased institutional adoption since the Bitcoin ETFs launched. According to the firm’s executive, the BTC exchange-traded funds becoming the major source of revenue for BlackRock, the world’s largest asset manager, was not envisioned.

BlackRock’s Bitcoin Funds Outweighing Expectations 

At the Blockchain Conference 2025 in São Paulo on Friday, November 28, BlackRock’s business development director in Brazil, Cristiano Castro, told reporters that the Bitcoin ETFs are the largest revenue source for their company. According to the executive, this development came as a “big surprise” to the asset management firm.

Castro said in a statement:

We were very optimistic when we launched, but we didn’t believe it would reach such proportions. Just to give you an idea, it [IBIT in the US and IBIT39 in Brazil – the asset’s reference names] came very close to US$100 billion [in allocation].

This feat is notable for the Bitcoin ETFs, especially considering that BlackRock offers more than 1,400 exchange-traded products globally and has a whopping $13.4 trillion in assets under management. The US-based Bitcoin fund (with the IBIT ticker) has over $70.7 billion in net assets, becoming the first ETF to reach the $70-billion mark (doing so in June 2025).

While the US Bitcoin ETF market has somewhat slowed down, BlackRock’s IBIT still continues to outpace other ETFs launched in recent years. As earlier reports suggested, IBIT had managed to generate roughly $245 million in annual fees as of October 2025.

Bitcoin ETF Outflows ‘Perfectly Normal’ – Castro

When asked about the recent outflows from BlackRock’s Bitcoin ETF as the market leader’s value fell, the director stated that there are zero surprises in that trend. “ETFs are very liquid and powerful instruments, and they serve precisely to allow people to allocate their capital and manage their cash flow,” Castro noted.

The BlackRock director said that the withdrawals are expected, considering that the product is heavily owned by retail investors, who are reactionary in nature to price corrections. On Friday, the iShares Bitcoin Trust saw a net outflow of $113.72 million, bringing the weekly record to a negative $137.01 million and the fund to its fifth-consecutive week of withdrawals.

Featured image from Getty Images, chart from TradingView

The price of Bitcoin appears to have cooled off after displaying great strength in recovering the $90,000 level over the past week. According to the latest price action data, this price jump will only be transient, as the premier cryptocurrency is seemingly still stuck in a bearish structure.

BTC Price Momentum Continues To Slow Down

On November 29, market analyst Axel Adler Jr. shared a fresh outlook on the price of BTC on the social media platform X. The crypto pundit revealed that the market leader might be entering a zone of “elevated risk for a prolonged correction.”

According to Adler Jr., the price momentum of Bitcoin has been witnessing a cool-off since March 2024. This observation is based on changes in the monthly Relative Strength Index, an indicator that measures the speed and magnitude at which an asset’s price changes.

Related Reading: Bitcoin Investors Are Not ‘Remotely Bullish Enough’ — Bitwise Researcher

Data from CryptoQuant shows that the monthly Bitcoin RSI has fallen from overheated levels down to 60% since March 2024, a period marked by significant price surges. From a historical perspective, this decline could spell further trouble for the price of BTC.

As Adler Jr. highlighted on X, the flagship cryptocurrency took between 200 to 300 days to begin a new bullish wave after an RSI decline of that magnitude in the previous two cycles. Using this historical pattern, the Bitcoin price might not reach its next bottom until between June and October 2026.

Bitcoin Whales Show Reduced Conviction: Alphractal CEO

From a different on-chain standpoint, Alphractal CEO and founder Joao Wedson also has a similar not-so-optimistic stance on the price of Bitcoin in the near term. This evaluation is based on the positions of the largest investors (whales) compared to retail investors.

According to Wedson, BTC whales are either closing their long positions or slightly increasing their BTC shorts compared to retail investors. Typically, this trend leads to a period of sideways price movement — as seen between March and April 2025.

Wedson also noted that some bears are probably looking to push the BTC price toward the $80,000 level before going on an accumulation spree. Ultimately, the combination of the falling momentum and whales’ lack of conviction paints a somewhat pessimistic picture for Bitcoin.

As of this writing, the price of BTC stands at around $90,979, reflecting no significant changes in the past 24 hours. Meanwhile, the market leader is up by more than 7% on the weekly timeframe, according to data from CoinGecko.

The Layer 1 blockchain Monad has grabbed the headlines in the past few days following its successful launch earlier last week. MON, its native token, enjoyed a significant 80% surge on the back of the launch, hitting an all-time high of 0.048 on Wednesday, November 26.

While the Monad protocol has enjoyed significant attention since going live, it appears that not everyone is confident in its potential adoption. Most notably, BitMEX co-founder Arthur Hayes has put forward a pessimistic outlook for the project, saying its token value could fall as much as 99%.

Monad Has No Real Use Case: Hayes

In a YouTube interview with Altcoin Daily, Hayes stated that any other Layer 1 blockchain besides Ethereum and Solana is “zero” and is not going to do very well. Using Monad as an example, the former BitMEX CEO described the protocol’s coin as another “high FDV, low-float” token.

Hayes said that Monad is going to be the new “Berachain” and expects its native token’s value to fall by 99% after the initial jump. Berachain, which launched in February 2025, has its native token BERA trading beneath $1, nearly 94% beneath its all-time high of $14.83.

As of this writing, the Monad token is valued at around $0.0285, reflecting an over 40% decline since hitting its all-time high on Wednesday.

Hayes highlighted that every new project’s token often enjoys an early price spike before facing a deep correction, as there is usually no real use case to back up the initial growth. The crypto founder noted that it is a classic case of FOMO (fear of missing out), especially after the massive success of Ethereum.

Hayes said in the interview:

Every coin gets their first pump and people want to believe in the new L1. Everybody wants to invest in the new Ethereum like they would have in 2014 when everyone missed it. Me included. But again, that doesn’t mean it [Monad] is going to actually have any real use case.

Moving forward, Hayes went on to pick a “magnificent five” of protocols currently in the cryptocurrency space, including Bitcoin, Ethereum, Solana, ZCash, and Ethena.

If Not Layer 1s, What Next?

It is little surprise that ZCash made it to the BitMEX co-founder’s list of top blockchain protocols. According to Hayes, ZCash and other privacy-focused coins—like Monero—will dominate the crypto narrative even more in the coming year.

Additionally, Hayes mentioned that Zero Knowledge (ZK) proofs and quantum resistance are other crypto narratives to watch out for in 2026. Specifically, the crypto founder noted that the next winner in the crypto market over the next one to two years would come from the ZK space.

The Bitcoin price has somewhat slowed down in its recovery since reclaiming the $91,000 level over the past week. According to the latest on-chain data, the flagship cryptocurrency seems to be entering a critical zone, which could see its price rebound with more momentum in the near future.

On-Chain Data Suggests Bitcoin Price Could See Rebound Soon

In a November 29 post on the social media platform X, crypto analyst Ali Martinez revealed that the Bitcoin price might be entering a “low-risk” zone. According to the market pundit, this low-risk area has often offered solid potential buying opportunities for investors.

This evaluation revolves around the Sharpe Ratio, an on-chain indicator that assesses the risk-adjusted returns of a specific crypto asset (Bitcoin, in this case). This metric basically evaluates the amount of profit an investment offers per unit of risk (considering risk is measured by volatility).

Typically, a rising Sharpe Ratio indicates a higher risk-adjusted performance, meaning the asset generates greater returns compared to the risk undertaken. On the other hand, when this metric is in a downward trend, it implies that the coin is in a “lower-risk zone” and the returns are becoming less significant.

As shown in the chart above, the Bitcoin Sharpe Ratio has been on a sharp downturn, approaching the low-risk region (the green area). Within this area, the market leader tends to offer lower returns and is often less susceptible to unexpected volatility-driven price movements.

Historically, the low-risk zone has been where long-term investors “buy the dip,” as they look to make less risky decisions in the market. Moreover, as observed in the highlighted chart, the Bitcoin price bottomed out (as seen in late 2022) when the Sharpe Ratio entered the low-risk zone.

In essence, the Bitcoin price could be preparing for a market rebound as the Sharpe Ratio hovers around and below the zero threshold.

Bitcoin Coinbase Premium Gap Flashes Green Again

Another on-chain metric that adds further credence to the Bitcoin price rebound hypothesis is the Coinbase Premium Gap. This indicator measures the difference between the BTC price on the US-based Coinbase exchange (USD pair) and the global Binance exchange (USDT pair).

When the Coinbase Premium Gap is positive, like it currently is, the metric implies that US-based investors are buying Bitcoin aggressively. Ultimately, this demand pressure from American investors could provide the buoy that the Bitcoin price currently needs.

As of this writing, the price of BTC stands at around $90,940, reflecting a mere 0.4% jump in the past 24 hours.

Over the past week, the Bitcoin price had its best performance since the infamous October 10 downturn, which led to the largest liquidation event in crypto history. The premier cryptocurrency seems to be on a recovery path, returning above the $90,000 mark on Wednesday, November 26.

Despite the several calls of the bear market in recent weeks, the crowd has returned with hopes of the BTC bull run resuming. However, a prominent on-chain analyst has come forward with an interesting analysis of the current Bitcoin price outlook.

BTC Price To Continue Within $70,000 – $90,000 Zone: Analyst

In a November 28 post on the X platform, CryptoOnchain shared an evaluation of Bitcoin’s current price action around the $90,000 level. According to the crypto pundit, recent on-chain data suggests that the market leader is at risk of a rejection at its current price level.

CryptoOnchain highlighted that the Bitcoin price lost a significant support level at $90,000 when it initially fell to around the $80,000 mark a week ago. Now, the price of BTC is looking to make a sustained close above the $90,000 level after bouncing back from the Point of Control (POC) near $82,000.

In crypto trading, the point of control (POC) refers to the price level with the highest volume of trading activity within a given period. It basically represents a zone where buyers and sellers are equally matched, leading to the formation of support or resistance.

After bouncing from the POC around $82,000, CryptoOnchain said the flagship cryptocurrency has now settled into a “clear” consolidation zone between the $70,000 and $90,000 region. While the Bitcoin price currently sits above $90,000, the analyst noted that the market leader faces potential rejection.

This conclusion was drawn from on-chain data, which shows that large amounts of Bitcoin have been flowing into Binance, the world’s largest crypto exchange by trading volume. According to CryptoQuant, the crypto exchange has seen over $2 billion worth of BTC in the past seven days, which could put some downward pressure on the price.

Besides the potential selling pressure, there is limited buying power to absorb the extra BTC supply that might hit the open market from sales. CryptoOnchain shared that the net stablecoin inflow on Binance stands at approximately $735 million, which means limited potential demand or buying power.

With this “clear supply-demand imbalance,” CryptoOnchain concluded that a rejection from the $90,000 mark and sideways movement within the $70,000 – $90,000 consolidation zone is the likely scenario for the price of BTC.

Bitcoin Price At A Glance 

As of this writing, the price of BTC sits just above $91,000, reflecting no significant movement in the past day.

According to the latest on-chain evaluation, the recently-launched spot exchange-traded funds (ETFs) in the United States have added a new dimension to the XRP price dynamics.

Institutional Divergence From On-Chain Activity A Classic Accumulation Sign

On Friday, November 28, Cryptonchain, in a Quicktake post on the CryptoQuant platform, shared insights into XRP’s recent price action. The market analyst revealed that a notable on-chain dynamic is in play. 

The relevant indicator here is the XRP Active Addresses metric, which tracks the number of wallet addresses actively interacting with the XRP Ledger within a specific time period. This indicator provides insights about retail engagement, network health, and demand pressure.

The analyst reported that the XRPL Active Addresses metric has seen a decline to around the 19,400 mark, its lowest level this year. What’s intriguing about this change is that an asset’s price action is typically expected to be in line with its network activity; this case, however, proves to be atypical. 

According to CryptoOnchain, while the XRP Ledger collapsed to its lowest levels seen this year, a strong defense of the $2.20 price support appears to be going on. This divergent behavior, noted the analyst, classically signals that institutions are silently accumulating tokens away from the XRP network. 

When retail activity sponsors price rallies, there are expectedly spikes in network activity due to Fear Of Missing Out (FOMO) among traders. However, institutions operate differently, as off-chain accumulations take place via OTC desks and custodial services (for example, Coinbase Prime and BitGo).

What It Means For Price

The online pundit explained that the decline in the number of active addresses to levels around 15,000 to 19,000 points to a relative absence of retail investors, an investor class with an aggressive reputation.  

As price thus maintains stability through this retail scarcity, it is apparent that there is a growing supply shock due to ETF inflows and increasing institutional positioning.

With these conditions in place, CryptoOnchain posited that it is rational to expect a major pump in the XRP price, but under the additional condition that retail liquidity returns in a fairly considerable amount.

As of this writing, the XRP token is valued at $2.18, reflecting an over 2% in the past 24 hours. However, according to data from CoinGecko, the altcoin is up by more than 14% in the last seven days. 

The price performance of Bitcoin in the final quarter of 2025 has been a major source of worry for the crypto crowd — and rightly so. At some point in the past few weeks, the premier cryptocurrency looked set to end the year deep in the red zone.

Over the past week, the Bitcoin price has shown signs of a healthy recovery, having reclaimed the significant $90,000 support level. According to a crypto expert, the market leader may be performing better than the charts currently indicate.

What Has BTC Priced In Already?

In a November 28 post on the social media platform X, Bitwise’s European Head of Research, Andre Dragosch, provided an answer to the “what is priced in already?” question being constantly faced by Bitcoin investors. 

According to the macro analyst, the flagship cryptocurrency is pricing in the most bearish global growth outlook since 2022 (marked by Federal Reserve tightening and FTX’s collapse) and 2020 (during the depths of the Covid-19 pandemic).

Dragosch revealed that he was able to determine the level of global growth expectations Bitcoin is already pricing in by employing a set of leading macro surveys. “Bitcoin is essentially pricing in a recessionary growth environment,” the Bitwise researcher wrote.

Dragosch added:

Personally, I tend to be a macro contrarian because Bitcoin can both under- and overshoot the prevailing macro outlook. Pricing of any asset is essentially macro sentiment. This is also where most of the alpha is made, in my view.

As earlier mentioned, the last time macro expectations were this pessimistic was in 2020 and 2022 — with Bitcoin undershooting the macro outlook before making a strong comeback. Dragosch believes that a reenactment of this scenario is currently at play.

The Bitwise European Head of Research then noted that “global growth expectations will accelerate from here, based on the amount of preceding monetary stimulus, which points to a reacceleration well into 2026.” 

Dragosch mentioned that the last time there was this asymmetric risk-reward was during the pandemic, where the Bitcoin price had surged 6x by year’s end after initially crumbling under the March 2020 shock. This macro setup can be likened to a “coiled spring or a ball under water.’

According to the macro analyst, Bitcoin’s current trajectory seems to be taking the form of a “coiled spring”—meaning its price could be readying for a violent move after a period of compression. Dragosch then concluded his analysis, saying that investors are not even remotely bullish enough.

Bitcoin Price At A Glance

As of this writing, the price of BTC stands at around $90,880, reflecting no significant movement in the past 24 hours.

Asset management firm CoinShares has announced its decision to pull the plug on its different crypto exchange-traded fund (ETF) applications with the United States Securities and Exchange Commission (SEC). This move marks a change in the firm’s strategy as it looks away from the slowly-saturating US crypto ETF space.

CoinShares Pulls Plug On Solana, XRP, Litecoin ETFs

On Friday, November 28, CoinShares discontinued its interest in launching multiple spot crypto exchange-traded funds, including the XRP ETF, Solana staking ETF, and Litecoin ETF. The asset manager filed with the US SEC to withdraw its Form S-1 registration statements for these exchange-traded funds.

One of the withdrawal applications read:

The Registration Statement sought to register shares to be issued in connection with a transaction that was ultimately not effectuated. No shares were sold, or will be sold, pursuant to the above-mentioned Registration Statement.

In a bold move, CoinShares sought the SEC’s approval to list spot Litecoin and XRP ETFs in the United States in January 2025. The crypto asset manager then later filed for a spot Solana exchange-traded fund in June, while proposing a staking integration. 

However, CoinShares’ decision to wind down its push for these spot crypto ETFs seems to align with its shift in product strategy for the United States. Earlier on Friday, the digital asset manager announced its “strategic approach” to the United States market while preparing for its public listing in the country.

Jean-Marie Mognetti, CEO and co-founder of CoinShares, said in a statement:

The U.S. market presents a different landscape. Single-asset crypto ETPs have been rapidly commoditized, with the market consolidating around large-scale players, leaving limited opportunities for the differentiation that drives sustainable margins. As a result, this market requires a different playbook, one that leverages our core strengths in new product categories where we can deliver genuine investor value and premium economics.

With the plug already pulled on the spot single-crypto exchange-traded funds, CoinShares said it still aims to launch new products in the US market over the next 12 – 18 months. Some of these products will include crypto equity exposure vehicles, thematic baskets, and actively managed strategies combining crypto and other assets.

Crypto Asset Manager To Focus On ‘Higher-Margin’ Opportunities In US

In his statement, the CoinShares CEO also revealed the plans to further trim its US product list by winding down its Bitcoin Futures Leveraged product (with the ticker BTFX). 

Meanwhile, Mognetti noted that the resources initially allocated to the planned launches of the different single-asset crypto ETFs will now be redirected toward “higher-margin” opportunities.

As Bitcoinist reported in September, the European-based digital asset manager is preparing for its public listing in the US on the Nasdaq Stock Exchange. This initial public offering will come on the back of its $1.2 billion merger with Vine Hill Capital Investments, a special purpose acquisition company (SPAC).