#BTC According to CoinMarketCap data, the global cryptocurrency market cap now stands at $3.00T, up by 0.70% over the last 24 hours. Bitcoin (BTC) traded between $86,307 and $91,950 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $91,610, up by 5.18%. Most major cryptocurrencies by market cap are trading mixed. Market outperformers include ORCA, BANANAS31, and SUPER, up by 73%, 40%, and 22%, respectively. Top stories of the day: SEC Introduces New Guidelines to Expedite Crypto ETF Approvals Federal Reserve Beige Book Reports Slight Employment Decline Philippines' Asset Tokenization Market Projected to Reach $60 Billion by 2030 ARK Invest Maintains Bullish Bitcoin Forecast Amid Economic Shifts U.S. Dollar Faces Volatility Amid Thanksgiving Market Closure Tether's Gold Purchases May Influence Bitcoin Prices, Says BitMine CEO Tom Lee Predicts Bitcoin Could Reach $100,000 by Year-End Bitcoin Mining Difficulty Decreases by 1.95% Nasdaq Seeks SEC Approval to Increase BlackRock's IBIT Contract Limit UAE Introduces New Central Bank Law for Digital Assets and DeFi Market movers: ETH: $3031.04 (+4.09%) BNB: $892.07 (+4.24%) XRP: $2.1989 (+0.86%) SOL: $142.22 (+4.14%) TRX: $0.2767 (+0.95%) DOGE: $0.15388 (+2.30%) WLFI: $0.1589 (-0.19%) ADA: $0.4352 (+4.11%) WBTC: $91436.95 (+5.13%) BCH: $544.3 (+2.35%) $BTC $ETH $BNB #DOGE
#$BTC Bitcoin has sharply retraced from its October highs of around $125,000, dropping into the $80,000–$90,000 range.
Some analysts say the decline is due to risk aversion, macro uncertainty (especially around U.S. interest rate policy), and liquidations of leveraged long positions.
2. Technical Picture: Key Support Zones
Key support is being eyed near $82,000, which some models suggest could define Bitcoin’s short-term bottom.
On the technical side, Bitcoin has broken lower supports, and indicators like lower highs/lows point to a short-term bearish structure.
However, on-chain data shows accumulation: long-term holders and institutions may be stepping in at these dips.
3. Macro & Institutional Dynamics
The macro backdrop is complicated: while rate-cut expectations remain on the table, investors are cautious.
Institutional adoption continues in the background; ETFs and large holders are still active, which could support a rebound.
There’s talk of a possible seasonality boost: historically, November has been a strong month for Bitcoin.
4. Diverging Forecast Scenarios
Bullish Case: Some analysts see potential for a bounce toward $115K+, driven by seasonal strength and renewed institutional inflows.
Bearish Case: Others caution that failure to hold current supports could lead BTC down to the $92K–$96K range by month-end.
5. Key Risks to Watch
More leveraged long positions getting liquidated.
Delayed or less aggressive rate cuts from the Fed.
Large-scale institutional sell-off or ETF outflows.