Author: Maham Arslan

Bitcoin is lingering just shy of $89,800, still trying to regain its footing after that pretty sharp correction it took last month. While it was still just a metre or so shy of the $90,000 mark, the price action suggested a market more paused than panicking. As we head into the holiday season, the big investment desks have been winding down their activity a bit, and liquidity has really thinned across most major exchanges.

This slowdown isn’t because people are getting bearish on the whole thing. No, what we’re seeing is a lot of traders just seeming a bit reluctant to put down any big bets on where the price is headed next – not so much because they think the price is going to tank, more that they don’t have a clear enough signal to go all in.

Trading volumes have been easing steadily through November and December, and things have been subdued across both private and institutional investors. What we’re seeing is a market that’s stuck in a state of digestion, taking a break after all the gains it made and waiting for some fresh catalysts to kick things off again.

October’s $113K High Still Defines Sentiment

The reason bitcoin is having such trouble right now is that it’s having a sharp reversal from its October peak of $113,000. That was a real wild ride and really reset expectations for what was possible – and since then, the market’s been in a pretty risk-averse mood, shifting from chasing big gains to trying to control risk.

Looking at the data, we can see this shift all too clearly:

• Trading volumes have declined in December
• Implied volatility continues to drift lower
• Reduced liquidity limits follow-through on breakouts

Glassnode was recently pointing out that falling volume doesn’t necessarily mean that interest is fading – people are just taking a defensive position and waiting to see what happens next.

Bitcoin (BTC/USD) Technical Structure Favors Consolidation

From a purely technical standpoint, things are looking pretty stable for Bitcoin right now – it’s successfully defended that $88,000–$88,200 support zone, and on the four-hour chart, we can see that recent candles are showing long lower wicks followed by pretty small-body closes, which is all indicative of dip-buying rather than any real panic or forced selling. And the price is still holding above that rising trendline from late November, so the short-term outlook is still pretty solid.

However, there is one big fly in the ointment: a lot of overhead resistance is still sapping the price’s progress.

Right now, Bitcoin is capped by:

• The 50-EMA near $90,000
• The 100-EMA around $94,000
• A prior rejection zone near $99,000–$100,000

Key levels to watch:

• Resistance: $91,200, then $94,250
• Support: $88,000, followed by $86,500 and $84,600

RSI is sitting around 45, so there’s definitely no oversold stress showing up, which is making a weak momentum situation look a lot more like a continued range-trading scenario than an immediate breakout.

What Comes Next for Bitcoin?

Analysts have been describing this phase as institutional fatigue. After months of ETF-driven inflows, the big funds aren’t making the same allocations as before, and they’re all de-risking ahead of year-end. Until we see some improvement in liquidity and trading volumes start to come back, I think we’re going to be stuck in this range-bounded position for a while yet.

But if we do get a decisive move above $91,200, that could be enough to shift things higher. Until then, though, patience, not panic, is definitely the dominant mindset – at least that’s what the traders are saying.

Bitcoin traded around $92,178 on Friday, gaining nearly 2% over the past 24 hours as a symbolic milestone unfolded on Wall Street. The New York Stock Exchange revealed a new “disappearing” statue honoring Bitcoin’s creator, Satoshi Nakamoto — a recognition that would’ve been unthinkable during earlier years when the crypto sector was often dismissed by traditional finance.

Satoshi Nakamoto Statue Installed at NYSE in Major Symbolic Moment

A new “disappearing” statue of Bitcoin developer Satoshi Nakamoto has been revealed by the New York Stock Exchange. The sixth of 21 planned monuments to be erected worldwide is this piece of art by Italian artist Valentina Picozzi. There are already statues in Miami, El Salvador, Japan, Vietnam and Switzerland.

In contrast to previous years when Bitcoin was mostly disregarded or denounced on Wall Street the NYSE characterized the monument as a sign of the expanding relationship between traditional banking and the cryptocurrency industry. Twenty One Capital a Bitcoin-focused company started trading this week coinciding with the installation.

Additionally, the period coincides with the anniversary of Satoshi’s December 2008 inception of the Bitcoin mailing list. More than 3.7 million BTC are currently held by public companies, private businesses, ETFs and even nations demonstrating the progress that Bitcoin has made.

JUST IN: 🇺🇸 Jack Mallers’ Twenty One places a statue of Satoshi Nakamoto in the New York Stock Exchange.#Bitcoin is taking over Wall Street 🙌 pic.twitter.com/AxL98zFqi6

— Bitcoin Magazine (@BitcoinMagazine) December 11, 2025

Bitcoin prices may be supported by this symbolic acknowledgment at the NYSE which increases optimism and fortifies confidence.

Bitcoin Treasury Growth Slows in Q4, but Big Companies Keep Buying

The use of Bitcoin Treasury has drastically decreased in the fourth quarter of 2025. While 53 new treasury companies added Bitcoin to their balance sheets in Q3 just nine organizations have done so thus far this quarter. In 2025, 117 new businesses accepted Bitcoin, however the majority of them only have modest holdings.

Some businesses have even sold their holdings or put a halt to operations. While UK-based Satsuma Technology sold 579 BTC worth roughly $53 million Japan’s Metaplanet ceased purchases for two months.

The biggest corporate holdings continue to accumulate notwithstanding this downturn. The largest corporate Bitcoin holder, Strategy, made its largest purchase since July this week, purchasing $962 million in BTC. More over 1 million BTC, or 4.7% of the total supply, are currently held by public firms, with an additional 7% held via Bitcoin ETFs.

Blackduck says Bitcoin treasuries stall in Q4, but largest holders keep stacking sats Quacktastic news pic.twitter.com/yV3IKGrd1Y

— blackduck (@blackducktradfi) December 11, 2025

Even if smaller participants slow down large companies’ continued purchases of Bitcoin maintain price strength and demonstrate long-term confidence.

Klarna and Privy Collaborate to Investigate Crypto Wallets

Only a few weeks after introducing its KlarnaUSD stablecoin the Swedish finance behemoth Klarna is branching out into cryptocurrency. The business has now teamed up with Privy a Stripe-owned cryptocurrency wallet infrastructure platform to investigate and create additional capabilities for its users.

Klarna believes that with more than 114 million users it is well-positioned to provide common people with easy-to-use and secure cryptocurrency solutions. Through upcoming wallet capabilities the alliance hopes to make it simple for consumers to store, send and utilize digital assets.

More than 100 million accounts are currently supported by Privy, which also integrates with popular cryptocurrency apps like OpenSea.

KlarnaUSD is presently on Tempo’s testnet and is anticipated to launch in 2026. According to the business, it may reduce the cost of international payments. Additionally Klarna alluded to the possibility of future cryptocurrency-related announcements.

JUST IN: Fintech giant Klarna to develop #Bitcoin and crypto wallet features within its financial products.

Bullish 🚀 pic.twitter.com/UChKCUyOzZ

— Bitcoin Magazine (@BitcoinMagazine) December 11, 2025

This action raises market confidence and expands the use of cryptocurrencies both of which can help Bitcoin prices.

Bitcoin Technical Outlook

Bitcoin is trading near $92,240, consolidating within a narrowing structure formed by resistance at $94,612 and rising trendline support from early December. Recent candles show repeated upper-wick rejections around $94,000, signaling persistent selling pressure. The 50-EMA near $92,600 continues to cap intraday attempts higher, while the 200-EMA at $95,700 remains the key breakout level.

RSI sits near 45, pointing to slowing momentum without a clear reversal signal. A drop below the ascending trendline could expose $91,599, followed by $88,628 if sellers strengthen.

A decisive close above $94,612 would target $96,788 and $99,207, an area reinforced by Fibonacci resistance and long-term moving averages. Until price escapes this triangle, Bitcoin is likely to remain range-bound.

Bitcoin’s institutional momentum accelerated this week as PNC Bank became the first major U.S. bank to offer direct BTC trading, the CFTC opened derivatives markets to crypto collateral, and Jack Mallers’ Twenty One Capital debuted on the NYSE with a $3.9bn Bitcoin treasury. Together, these developments strengthen liquidity, broaden access, and reinforce bullish sentiment across the BTC ecosystem.

PNC Becomes First Major U.S. Bank to Offer Direct Bitcoin Trading Through Coinbase

With its own digital banking platform, PNC Bank is now the first significant U.S. bank to allow qualified Private Bank customers to directly purchase, sell and keep Bitcoin. The tool makes advantage of Coinbase’s Crypto-as-a-Service architecture which maintains the client experience entirely inside PNC’s system while managing trade, custody and settlement in the background.

This action is a significant step toward integrating spot Bitcoin trading into conventional wealth management and comes after PNC’s previous collaboration with Coinbase. It coincides with Bank of America allowing advisors to suggest a 1%–4% cryptocurrency investment, indicating a broader change on Wall Street.

According to PNC the new service allows high-net-worth customers to access regulated, safe Bitcoin through accounts they currently have.

In later stages, PNC intends to increase Bitcoin access for other clientele including institutional investors.

💥 JUST IN: 🇺🇸 PNC Bank partners with Coinbase to allow private clients to buy and hold Bitcoin in existing accounts

The first such offering by a major U.S. bank

The banks are flocking to Bitcoin 👀 pic.twitter.com/w6iStrr11B

— Bitcoin Archive (@BitcoinArchive) December 9, 2025

A major sign of widespread acceptance is a leading American bank that offers direct Bitcoin trading. This stimulates demand from affluent customers, strengthens institutional confidence and overall supports the bullish momentum for Bitcoin prices.

CFTC Pilot Opens Door for Crypto Collateral in Derivatives Markets

Bitcoin, Ether and USDC can now be accepted as margin collateral in derivatives trading by futures commission merchants thanks to a significant pilot program started by the U.S. Commodities Futures Trading Commission (CFTC). The program incorporates strong weekly reporting guidelines to guarantee openness, client safety and appropriate risk management as announced by acting chair Caroline Pham.

This upgrade provides new guidelines on tokenized real-world assets, segregation regulations and legal standards in addition to replacing previous limits. Additionally the CFTC released a no-action stance endorsing the use of payment stablecoins as collateral for margin.

Leaders in the cryptocurrency business warmly applauded the action, describing it as a breakthrough for automated settlement and tokenized collateral in the vast derivatives market.

🇺🇸NEW: Acting Chairman Pham has announced that the CFTC has launched a digital-assets pilot program allowing BTC and ETH to be used as collateral in U.S. derivatives markets. pic.twitter.com/sjfF8yYFDB

— CoinDesk (@CoinDesk) December 8, 2025

One significant step toward widespread use is the acceptance of Bitcoin as collateral in regulated U.S. derivatives markets. It strengthens liquidity, boosts institutional trust and establishes Bitcoin as a significant financial asset. Due to increased demand and enhanced market credibility this favorable regulation change is probably going to reinforce upward pressure on Bitcoin prices.

Jack Mallers’ Twenty One Capital Debuts on NYSE with $3.9B in Bitcoin

Twenty One Capital, the Bitcoin-focused business of Jack Mallers has formally debuted on the New York Stock Exchange with the ticker XXI. The company wants to be the biggest Bitcoin holder on the open market. After MicroStrategy and MARA Holdings it currently holds 43,514 BTC or almost $3.9 billion, making it the third-largest corporate Bitcoin holder.

The business was founded following a merger with Cantor Equity Partners and is supported by significant organizations like SoftBank, Tether, Bitfinex and Cantor Fitzgerald. According to Mallers the objective is to give Bitcoin “the place it deserves in global markets.”

The company intends to create educational materials, lending models, and financial solutions based on Bitcoin in addition to keeping BTC.

💥 BREAKING: 🇺🇸 Jack Mallers' Twenty One Capital goes live on the NYSE with $4 BILLION Bitcoin on its balance sheet pic.twitter.com/EEvKoKAi9o

— Bitcoin Archive (@BitcoinArchive) December 9, 2025

The huge BTC treasury and solid institutional support boost trust in Bitcoin as a widely used asset. When more businesses fight to acquire Bitcoin this kind of high-profile listing usually improves investor mood and helps upward pressure on BTC prices.

Bitcoin Technical Analysis

Bitcoin is trading near $92,680, holding above the short-term ascending trendline that has guided the recovery since the December low. Recent candles show rejection near $94,612, where long upper wicks signal profit-taking and hesitation from buyers. Price is currently consolidating between $91,948 support and the $94,612 resistance zone.

The 50-EMA on the 2-hour chart is turning upward, while the 200-EMA remains above price, keeping the structure mildly neutral. A decisive close above $94,612 would expose the next resistance at $96,788, followed by $99,207. On the downside, losing $91,948 opens a move toward $90,000, then the stronger support at $88,628, aligned with the previous swing region.

RSI is stabilizing around mid-levels, showing neither strong momentum nor clear exhaustion. As long as Bitcoin stays above the rising trendline, the bias leans toward gradual upside, but a break below $91,948 would weaken the structure.

Bitcoin is trading near $91,990, supported by renewed institutional interest and improving short-term momentum. Harvard University’s latest filings show a sharp increase in its Bitcoin exposure, underscoring how large investors are continuing to shift toward hard assets amid ongoing US dollar debasement risks.

Harvard’s allocation rose from $117 million in Q2 to nearly $443 million in Q3, according to Bitwise CIO Matt Hougan. During the same period, gold ETF holdings increased from $102 million to $235 million, but Bitcoin remains the university’s clear preference. This shift highlights a broader trend: institutions are allocating to BTC at a faster pace, even as macro uncertainty persists.

Harvard Portfolio Breakdown

Harvard Management Company (HMC), overseeing a $2.1 billion endowment, now holds:

• 6.81M shares of BlackRock’s IBIT, representing 21% of the total portfolio
• 0.66M shares of SPDR Gold Shares (GLD) worth $235.1M
• Bitcoin is now the largest single position, ahead of Microsoft and Amazon

The positioning reflects rising confidence in Bitcoin’s long-term role as a store of value.

Market Flows Show Mixed Signals

Bitcoin has traded firmly over the past 24 hours, with price hovering around $91,990 after bouncing from last week’s lows. Trading volume surged nearly 50%, and derivatives markets show growing interest.

Key flow data:

• Spot Bitcoin ETF outflows: $87.77M
• IBIT outflows: $48.99M
• BTC futures open interest: +2.57% on CME, +2% on Binance

Despite ETF outflows, rising open interest suggests traders are positioning for volatility ahead of the Federal Reserve’s upcoming decision.

BTC/USD Technical Analysis

Bitcoin is approaching a major descending trendline near $92,200, which has capped every rally since mid-November. Recent 2H candles show stronger bodies and higher lows, supported by a clean move above the 200-EMA, while the 50-EMA begins to flatten.

A breakout above $92,200 would expose $94,003, followed by stronger resistance at $96,557.

On the downside:

• Immediate support: $90,162
• Secondary support: $87,730
• Next level lower: $84,507

The RSI is climbing toward 60, signaling improving bullish momentum that isn’t overstretched. If buyers hold above $92K, Bitcoin could attempt a broader trend reversal. Failure to clear the trendline keeps the pair inside the larger downward structure.

SpaceX executed another large-scale Bitcoin transfer on Friday, moving 1,083 BTC—nearly $100 million—to a newly created wallet. Data from Arkham Intelligence shows this marks the company’s eighth major transaction, deepening speculation as Bitcoin fell sharply ahead of today’s U.S. Personal Consumption Expenditures (PCE) inflation report and a large crypto options expiry.

According to on-chain tracker Lookonchain, a portion of the transfer was directed to Coinbase Prime, indicating potential adjustments in custody arrangements. The full movement included:

• 283 BTC ($31.3M) sent to wallet bc1qrzg
• 162.48 BTC moved to Coinbase Prime
• 800 BTC ($73.7M) transferred to wallet bc1qyh

Despite the reallocation, SpaceX’s main wallet still holds 5,012 BTC, valued at roughly $461.7 million at current prices. Analysts note the company has repeatedly rotated assets into fresh addresses in recent months, with several new wallets remaining untouched since creation.

Transfer Activity Accelerates After Market Volatility

Outflows from SpaceX-linked wallets have increased notably since the October 10 market downturn. Over the past two months, seven transfers have occurred—more than half routed to brand-new addresses.

This shift has fueled ongoing debate: some analysts view the moves as strategic repositioning ahead of macro events, while others recall October’s heavy speculation about potential institutional selling. The timing—just hours before the PCE inflation release—has added another layer of market attention.

Notable observations include:

• Increased transfer frequency during periods of instability
• Four of seven recent transactions moved to new wallets
• Long-term behavior reflects a mix of wallet rotation and asset preservation

Bitcoin Slides Below $90K as Traders Await Inflation Data

Following the transfer, Bitcoin extended its decline, dropping more than 1% and deepening a three-day slide from last week’s high near $94,000. BTC now trades around $89,600, with volumes down 18% as traders reduce exposure ahead of macro catalysts.

Derivatives data also reflect growing caution:

• BTC futures open interest fell 1.45% to $59.28B
• CME futures OI dropped 2.60%
• Binance futures OI slipped 2.07%

The combination of options expiry, inflation data, and the approaching FOMC meeting has kept volatility elevated and positioning defensive.

Bitcoin Technical Analysis: Pressure Builds Below Key Trendline

Bitcoin continues to trade near $89,600, stuck beneath a downward-sloping trendline that has rejected every rebound since mid-November. The recent 2H candles show lower highs, while a failure to reclaim the 200-EMA signals fading bullish strength. The 50-EMA crossing below the 200-EMA confirms a weakening structure.

Immediate resistance stands at $90,300–$91,000, where repeated rejection wicks show clear selling pressure. A decisive break above the trendline could open a move toward $94,000.

Support sits at $88,000, followed by $86,830. Current candles near support reveal small bodies and longer lower wicks—indicating hesitation but no confirmed reversal.

The RSI, recovering from the 30 zone but still below its midpoint, shows limited upside momentum. A drop beneath $88,000 risks a slide toward $83,750, while a close above the descending trendline is needed to challenge broader resistance.