Bitcoin News Today: Bitcoin's Critical Crossroads: Bulls Fight $93K, Bears Eye $75K

Bitcoin's recent price recovery has shown signs of losing momentum, with analysts warning of a potential shift toward bearish conditions as key technical indicators and macroeconomic factors align against the cryptocurrency. Despite a short-term rebound fueled by expectations of a December Federal Reserve rate cut-now priced at 67.1% for a 25-basis-point move-Bitcoin (BTC) remains structurally vulnerable after breaching critical support levels, including the 50-week exponential moving average and a long-standing rising trendline from 2024 according to analysis. This breakdown has placed the asset in a retracement phase, with bulls needing to reclaim resistance zones above $92,900 to avoid a deeper correction.

The immediate resistance for BTC lies between $90,822 and $94,003, a high-volume area tied to April's rally, while a successful break above $101,000 would test critical confluence points, including the 0.786 Fibonacci level and prior support-turned-resistance zones as technical analysis shows. However, the Weekly 50 EMA's downward trajectory and alignment with the 0.618 Fibonacci level could hinder a sustained rally, increasing the likelihood of a retreat toward $80,524 or even the psychological $75,000 level. Meanwhile, the Dollar Index (DXY) remains in a consolidation phase below 100, adding to the bearish macro backdrop as its horizontal base could extend higher if catalysts align according to market analysis.

Market data as of November 26 shows Bitcoin trading at $87,615, with the Fear & Greed Index at an extreme fear level of 15 and over $285 million in liquidations recorded in 24 hours. Analysts are divided on the near-term outlook, with BitMEX founder Arthur Hayes predicting a consolidation phase below $90,000 and a potential retest of $80,000, while others like Delphi Digital's that1618guy highlight a dual scenario: a bullish breakout above $103,500 or a bearish drop to $75,000. The latter scenario gains credibility from a major long-term holder (LTH) sell-off, which has reduced supply to 13.6 million BTC, signaling cycle exhaustion and aggressive dumping amid a sharp price decline from October's $120,000 peak according to TradingView analysis.

Ethereum (ETH) faces similar pressures, with whales accumulating positions despite a current price of $2,939. Fundstrat's Tom Lee views a short-term retrace to $2,500 as a "supercycle" buildup phase, projecting a potential 3–4x rally to $7,000–$9,000 by January. However, broader altcoin markets remain volatile, with PLUME surging 80% on Upbit but Hyperliquid's HYPE token facing liquidation risks ahead of its $308 million token unlock.

The technical outlook for BTC remains fragile, with momentum indicators like RSI and MACD showing weak conviction in the current rebound. A failure to close above $87,500 could trigger further declines toward $82,900 and $80,000, while a breakout above $93,000 might reignite bullish sentiment according to price analysis. Analysts are closely watching macroeconomic data, including U.S. unemployment claims, which could influence short-term volatility according to market reports.