BlackRock ETF investors bounce back to profit as price reclaims $90K

Bitcoin whales have resumed buying for the first time since August, coinciding with the cryptocurrency's price recovery above $90,000. This resurgence follows a period of volatility, indicating renewed confidence among large investors in the market's potential for growth.

Crypto trader James Wynn, known for losing $100 million in realized profits, has forecasted a significant decline in Bitcoin's price, predicting it will crash to $67,000. This prediction follows his earlier warning before Bitcoin fell below $100,000 earlier this month, indicating a troubling trend for the cryptocurrency market.

Bitcoin has recently experienced a shift in market sentiment, with sell dominance pausing as taker flow turns neutral. This change may lead to price stabilization, potentially attracting cautious investors and reducing volatility in the cryptocurrency market.

Bitcoin's price is currently trading between $90,658 and $91,394, showing momentum as it approaches recent highs, with a peak of $91,849 noted in the past 24 hours. This upward movement follows a period of volatility where Bitcoin's price fluctuated significantly, including a dip to $80,000.

California's pension fund, CalPERS, has invested $80 million in Strategy shares, providing it with indirect exposure to Bitcoin. This investment reflects a growing trend among institutional investors to explore cryptocurrency as a viable asset class, signaling a shift in traditional asset management practices.

Bitcoin's market structure has weakened significantly as the cryptocurrency experiences a dramatic drop in its Sharpe ratio, indicating increased volatility and negative on-chain metrics. The price of Bitcoin has struggled to maintain upward momentum, reflecting a broader bearish trend in the market.

Ethereum is currently retesting key resistance levels after a notable correction, with analysts anticipating the upcoming Fusaka upgrade on December 3 as a potential catalyst for a rally. This follows a challenging November where Ethereum faced a 26% decline amidst broader market pressures.

A dormant Bitcoin whale has sold a significant amount of Bitcoin after nearly three years, realizing a profit of $12.5 million. This sale underscores the potential for substantial gains from long-term Bitcoin holding, which can influence market dynamics and investor strategies.