Bitcoin Kicks Off December in the Red

BTC opened the month in red, a strong sell-off slammed BTC from $91.5k to $85k in just three hours.

Bitcoin's recent strength was largely driven by hopes of a December Fed cut, but this move looks more like the market finally cooling off after running overheated for weeks.

Now price is trying to stabilize around the $86k support near the CME gap. There are early signs of a bounce, and if buyers defend the 84–86k zone, a move back toward the 94–95k breakdown area is possible. If that support gives way, expect another dip or continued consolidation.