Bitcoin Price Watch: Momentum Builds Below Resistance

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.

XRP is currently trading at $2.18, maintaining a market cap of $131 billion, while traders closely monitor the $2.16–$2.25 corridor for potential price movements. This stability comes amidst a backdrop of recent volatility in the cryptocurrency market, where XRP has seen fluctuations in its value.

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.

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.

BlackRock Bitcoin ETF investors have returned to profitability as Bitcoin's price has reclaimed the $90,000 mark, indicating a potential recovery in the cryptocurrency market. This resurgence follows a period of volatility and low investor confidence, suggesting a renewed interest in Bitcoin as it approaches its all-time highs from 2025.

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.