$BTC Fundamental Analysis (Nov 25, 2025)
**Price**: ~$88,800
**Market Cap**: $1.77T
**YTD Performance**: +125%
**Core Bullish Fundamentals**
- 95% of 21M supply mined; daily new issuance only ~450 $BTC
- Hash rate & difficulty at all-time highs
- Long-term holder supply at ATH, exchange reserves at multi-year lows
- U.S. spot ETFs hold $62B (institutional demand still dominant)
- Global M2 rising + Trump pro-crypto policy tailwind
**Current Situation**
- 30% correction from $126K ATH (healthy mid-cycle pullback)
- Recent $2–3B ETF outflows + U.S. government shutdown pressure
- Fear & Greed at 15 (extreme fear), RSI oversold
**Price Outlook**
- Short-term: bounce likely to $95–100K; hold $90K = still bullish
- End-2025 base case: $110–150K
- 2026 base case: $150–200K+
**Bottom line**: Fundamentals stronger than ever. Current dip is noise in a structural bull market driven by scarcity + institutional adoption.#BTCRebound90kNext?
