📊 Latest market situation of Bitcoin on December 1st, #BTC in the morning.

As of December 1st, 8:39, the price of Bitcoin (BTC) is reported at $87,808, with the market in a phase of long and short contention within a key support range. After reaching a maximum of $93,000 on November 28th, the price failed to stabilize and quickly fell back to the current level, indicating that selling pressure remains heavy above.
Core Long and Short Battle Points:
• Positive factors: On-chain data shows that whale addresses (holding over 10,000 BTC) have resumed net accumulation in the $87,000 to $90,000 range, marking the strongest buying trend in months. At the same time, outflows from the U.S. spot Bitcoin ETF have significantly slowed to $29.8 million per day, alleviating selling pressure.
• Risk Signals: Technically, the price is still constrained by the bearish arrangement of all major moving averages (such as the 20-day moving average around $93,224). The market sentiment index is at 13 (extreme fear), and there is significant selling pressure in the $92,000-$93,000 range, which requires a notable increase in trading volume to break through.
• Directional Determination: If the price can break through the resistance zone of 90,000-91,000 USD with increased volume, it may trigger a short covering rally testing the 92,000-94,000 USD range; conversely, if it effectively breaks below the support zone of 86,000-86,700 USD, it may test the 83,000-84,000 USD range.
⚠️ Comprehensive Risk Warning
1. Key Level Verification: The support at $86,000-$86,700 is the lifeline for bulls and bears in the short term. If it breaks down with volume, it may test the $83,000-$84,000 range; a breakthrough at the resistance of $90,000-$91,000 requires volume support.
2. Macroeconomic event risk: The Federal Reserve's interest rate meeting in December (expected on December 9-10) is a key variable that may trigger significant volatility.
3. On-chain monitoring: It is necessary to closely monitor the net inflow of the exchange (a sudden increase indicates selling pressure) and the movements of whale addresses.
The market has risks, and investment requires caution. The above analysis is based on public data and technical indicators and does not constitute investment advice. $BTC