Bitcoin rose slightly to around $87,000 following a sharp sell off that briefly pushed it below $84,000 at the beginning of December, amid a renewed risk off sentiment that heavily pressured digital assets. This sudden drop came just days after Bitcoin had recovered from levels near $80,000, making the modest rebound insufficient to ease concerns over weakening market momentum.
November marked Bitcoin’s worst monthly performance in over four years, coinciding with significant outflows from spot ETFs. Reports indicated that increased “whale” transfers to exchanges, along with algorithmic selling, accelerated the decline. Some analysts forecast that prices could fall further toward the $60,000–$65,000 range if pressures persist, driven by factors such as profit taking, low liquidity, and investor anticipation of key economic data throughout the month.
Expectations are growing that the Federal Reserve may cut interest rates soon, adding further uncertainty to markets, while investors also monitor political developments in Washington related to the appointment of a new central bank head.
In cryptocurrency linked stocks, companies experienced notable declines: Strategy Inc fell after lowering its earnings forecast, Coinbase dropped around 5%, and Robinhood slid more than 4%.
In the altcoin market, most assets remained within narrow ranges. Ethereum slipped slightly to around $2,815, XRP fell over 1%, Cardano rose about 2%, and Solana showed limited movement, while meme coins like Dogecoin and TRUMP declined modestly.
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