Bitcoin fell below 90,000 USD this week due to pressure from liquidations, weak ETF demand, and converging economic uncertainties
This decline has erased profits from previous attempts to return to the 94,000–95,000 USD area, marking another major collapse this month
Forced selling in the market
The reason is the forced liquidation events occurring consecutively, with nearly 500 million USD lost across all exchanges, including about 420 million USD in long positions, and more than 140,000 traders liquidated in less than 24 hours
The ETF flow failed to absorb the selling as BlackRock’s iShares Bitcoin Trust reported consecutive outflows for six weeks totaling over 2.8 billion USD
ETF inflows into the U.S. have dropped to just 59 million USD on December 3, indicating reduced demand from institutions
The broader economic environment has turned adversarial as the Bank of Japan signals potential interest rate hikes, which could threaten liquidity held in risk assets globally
Traders also reduced risk ahead of the U.S. PCE inflation data release, causing Bitcoin to enter a cautious range of 91,000–95,000 USD
The latest U.S. PCE data arrives with expectations, showing cooling core inflation but still exceeding the U.S. Federal Reserve's target
The market reacted with caution, interpreting this print as evidence that the inflation situation is easing, but perhaps not quickly enough to guarantee rapid rate cuts
Signals from companies have also raised concerns as MicroStrategy warns it may sell Bitcoin if the company's asset valuation ratio weakens, causing the stock to drop 10%
Pressure on miners increases as energy costs rise, hashrate declines, and high-cost operators begin selling BTC to maintain operational capability
Network flows show divided opinions as Matrixport moved over 3,800 BTC from Binance to cold storage, representing accumulation by long-term holders
However, analysts estimate that one in four of the total circulating supply is at a loss compared to the current price
Community sentiment reflects fear, along with small points of hope
Traders on social platforms debate whether this move is natural or manipulated, with most market analysts blaming over-leverage, low liquidity, and overall hedging rather than coordinated price intervention
Others point to long-term outlooks, citing JPMorgan's latest price model of 170,000 USD for 2026
Bitcoin is currently trading near a critical pivot point, with a debt settlement range between 90K to 86K USD making the market vulnerable without new ETF inflows or easing macro pressures
A move back above 96,000–106,000 USD will be necessary to confirm the recovery momentum
At this moment, the volatility surrounding Bitcoin has decreased, recovered, and broken out again — and traders are still watching for the next clear movement
