Overview
- Bitcoin failed to clear roughly $93,000 and slipped back toward $90,000, with one report noting a trough near $85,900 in European trading, underscoring fragile price action.
- The Federal Reserve delivered a 25-basis-point rate cut and the New York Fed outlined about $40 billion in short‑dated Treasury purchases over the next month, a combination that initially lifted prices before a reversal.
- High leverage amplified intraday moves, with reported crypto liquidations ranging from about $138 million to more than $416 million over 24 hours as long positions were unwound.
- U.S. spot Bitcoin ETFs recorded net outflows, while on-chain data showed whale profit-taking contrasted with long-term accumulation addresses adding roughly 75,000 BTC between Dec. 1 and 10.
- Analysts highlight resistance near $92,000–$94,500 and supports around $89,000–$86,000 and possibly $78,000–$80,000, noting realized-loss readings near -18% remain well above deep-capitulation levels.