Bitcoin opened December under pressure after a sharp 5% weekend drop sent BTC briefly as low as $85,600, reviving predictions of a deeper slide toward $50,000. Analysts blamed thin liquidity at the November monthly close, which triggered more than $600 mln in liquidations.
Market commentators remain split on what comes next. Some traders warn that failure to reclaim the $88,000–$89,000 zone could open the door to a retest of November’s lows. Veteran analyst Peter Brandt has even suggested Bitcoin may be completing a «dead cat bounce,» eyeing levels below $40,000. Others, however, see a potential range forming between $80,000 and $99,000, though bulls caution that BTC must recover its 50-week EMA near $100,000 to regain momentum.
November closed with Bitcoin down 17.7%, its worst monthly performance since 2018, and historical patterns indicate that a red November often precedes further December weakness. Still, analysts say the downturn is not driven by fundamentals but by structural liquidity issues.
Macro pressures also hang over markets. The upcoming U.S. PCE inflation report, key for the Federal Reserve’s next rate decision, arrives alongside renewed concerns over Japan, where surging government bond yields have stirred global volatility. Former BitMEX CEO Arthur Hayes attributed the latest BTC drop in part to expectations of a potential Bank of Japan rate hike.
Meanwhile, traders are watching U.S. demand closely as the Coinbase premium teeters after briefly turning positive. Some analysts say the shift could signal an early-stage market bottom, similar to patterns seen before Bitcoin’s rebound in April 2025.
On Binance, stablecoin reserves have hit an all-time high relative to BTC holdings, suggesting significant «dry powder» waiting on the sidelines. On-chain analysts say this buildup has historically preceded major rallies, even as short-term sentiment turns increasingly bearish.
With liquidity thin, macro risks rising and technical pressures mounting, traders brace for another turbulent week—one in which a deeper pullback is seen by some as «inevitable,» and by others as the setup for Bitcoin’s next major move.
Kursiv Uzbekistan also reports that World Bank senior country economist Pinar Yasar advised Uzbekistan to allow its exchange rate to float freely while using central bank interventions solely to smooth extreme swings..
