Bitcoin
(BTC) is staging a recovery today, trading with renewed volatility following a
brutal start to the week. As of this writing on Tuesday, December 2, 2025, the
world’s leading cryptocurrency has rebounded over 1% from yesterday’s lows,
establishing a session high of $87,628.
However,
this green candle masks a precarious technical reality. Yesterday, Bitcoin
suffered its largest single-day decline since March, shedding over 6% in a
liquidation event that caught late bulls off guard. While the price has found
local support around $84,000, a level that served as a critical floor in
late April, market structure suggests this may be a temporary reprieve rather
than a reversal.
The
collision of a technical “Death Cross,” institutional “bull
traps,” and looming macroeconomic shifts suggests that Bitcoin may have
one final, painful leg down to $74,000 before the true parabolic run to $130,000
begins in 2026.
In the
background is also Saxo Bank’s “outrageous prediction,” which targets a
level of zero on the BTC chart. Could analysts be right? I examine this in
the article below.
To
understand why is Bitcoin falling despite the broader bullish sentiment, we
must look at the price action of late November. The rally observed toward the
end of last month has now been confirmed as a classic “bull trap.”
On November
28, Bitcoin price action painted a textbook bearish signal: a bearish
pin bar candle formed precisely at the resistance zone I have been
monitoring between $92,000 and $94,000. This rejection was the first
domino. Since that failed breakout, the market has been in a steady decline,
clearly reversing from those highs.
How low can Bitcoin go? My BTC Price prediction. Source: Tradingview.com
Currently,
the support at $84,000 is holding, but the technical damage is significant.
This level is likely functioning as a “pit stop” rather than a
bottom. The breakdown was exacerbated by macroeconomic jitters, as noted by Paul
Howard, Director at Wincent:
“The
potential rate hike news from BoJ took many in the markets by surprise and led
to a pulldown in risk assets generally overnight in Europe… Cryptocurrency
continues to be the risk-on asset class and a bellwether of macro-economic
events 24×7.”
Along with
Bitcoin, XRP also fell on Monday, which
I wrote about here. For the cryptocurrency, it was the biggest drop in a
month, and technical analysis shows room for a further 20% decline
Bitcoin Price Prediction
And The Road to $74,000
My bearish
case and Bitcoin
Read More: This New Bitcoin Price Prediction From Saxo Bank Warns BTC Could Fall to
