Bitcoin has fallen back below $95,000, breaking to its weakest level since May. It’s raising concerns that a deeper downturn may be unfolding. The downtrend extends a month-long loss of momentum that began shortly after October’s all-time high. It’s leaving BTC around 20% lower and forcing traders to reassess the durability of the recent bull cycle.
With rate policy uncertainty intensifying and a rare U.S. data blackout clouding market visibility, the stakes heading into December are higher than at any point this year.
Economic Data Gap Fuels Market Stress
The latest shock came as analysts warned that several key U.S. economic releases for October may not be published at all following the prolonged government shutdown. The absence of core metrics, including CPI, jobs data, and consumer trends, has left the Federal Reserve with limited visibility ahead of its December policy meeting.
Nic Puckrin, co-founder of The Coin Bureau, described the situation as a “black hole in the data pipeline,” noting that policymakers are being forced to navigate sensitive economic conditions with far less information than usual.
The Fed resumed its rate-cut cycle in September, delivering two reductions but keeping the door open for further adjustments. Yet traders now see only a 50% chance of another cut next month, according to CME FedWatch, down sharply from earlier in the week.
Concerns deepened after Goldman Sachs suggested the U.S. might have experienced the largest monthly decline in employment since 2020, a risk that is difficult to verify without official reports. As uncertainty grows, investors have shifted toward safety, pressuring high-beta assets like Bitcoin.
Market Sentiment Turns Defensive
Crypto markets have responded swiftly to the deteriorating macro picture. The widely-tracked Fear & Greed Index slid to 22, its lowest reading since April, signaling growing anxiety across digital assets.
Analysts note that Bitcoin’s decoupling from recent rallies in equities and precious metals may indicate deeper risk aversion.
Key sentiment pressures include:
- Rising uncertainty over Fed policy direction
- Weak visibility on U.S. inflation and labor trends
- Slowing liquidity inflows into digital assets
- Declining volatility, often a precursor to sharp directional moves
Bitcoin (BTC/USD) Technical Outlook: BTC Approaches a Decision Zone
Bitcoin’s daily chart shows a clean break below the long-term ascending trendline, shifting the structure into a developing downtrend. A rejection candle at $99,000 underscored seller control, while price now hovers above a critical liquidity band between $94,500 and $92,000.
The RSI rests near 31, showing pressure but not a confirmed bottom. Price action resembles a classic “break-and-retest” pattern: BTC pierced support, attempted to reclaim it, and failed—often a precursor to extended downside.
A further rejection at $97,000–$99,000 would likely expose $91,600, followed by a deeper move toward $83,000, a major volume node from earlier in the cycle.
A bullish reversal remains possible if buyers reclaim $99,000 with a decisive candle close. That would open a recovery path toward $104,600, then $116,200.
As volatility compresses, the next breakout—up or down—may define the tone for December trading and set the stage for early-cycle accumulation ahead of the next expansion phase.
Bitcoin Hyper: The Next Evolution of BTC on Solana?
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As Bitcoin activity climbs and demand for efficient BTC-based apps rises, Bitcoin Hyper stands out as the bridge uniting two of crypto’s biggest ecosystems. If Bitcoin built the foundation, Bitcoin Hyper could make it fast, flexible, and fun again.
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