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\n\t\t\t\t\t\t\t\t\tCurrent fair value sits near $99,000, framing a potential recovery target in the $96,000\u2013$99,000 zone if sentiment and liquidity improve.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Bitcoin (BTC) is trading around $87,000 on November 25, with on-chain and derivatives indices hinting that the month-long bearish phase may be nearing a key inflection point.<\/p>\n
Analysts now anticipate a potential recovery window between $96,000 and $99,000, with weak investors exiting the market and liquidity, rather than narratives, beginning to drive the next big move.<\/p>\n
On-chain researcher Axel Adler Jr. reported on Tuesday that the Bitcoin Bull-Bear Structure Index has been lodged<\/a> in negative territory since November 11, indicating sustained selling pressure.<\/p>\n However, a short-term reversal is now in motion, with the metric improving from a deeply negative -43% to around -20%. This, according to the analyst, points to a clear reduction in bearish momentum.<\/p>\n Meanwhile, the Bitcoin Futures Flow Index is still stuck in a bearish zone near 41, which is still below the 45\u201355 band Adler associates with a more neutral or bullish backdrop. According to him, until that level is cleared, \u201cupward momentum is unlikely.\u201d<\/p>\n Adding to that, the current fair-value line is sitting near $99,000 and has left a visible $11,000 gap to spot, framing a recovery target between $96,000 and $99,000 if sentiment improves.<\/p>\n Market watcher Daan Crypto Trades also offered proof that pressure may indeed be easing, pointing out that the Coinbase premium, which had been deeply negative for weeks, moved<\/a> back toward neutral over the weekend after heavy selling hit a local bottom last Friday.<\/p>\n Nonetheless, short-term structure remains fragile, with Titan of Crypto identifying<\/a> $88,700 as the first level bulls need to reclaim. Meanwhile, analyst Ed_NL highlighted<\/a> a \u201cred box\u201d resistance zone near $93,500 that could either cap a three-leg bounce before new lows or form the base for a fifth wave higher if buyers regain control.<\/p>\n Looking at the market, Bitcoin was up slightly at the time of writing, gaining a modest 1% in the last 24 hours. However, it remains in the red across all other timeframes, dipping nearly 5% over seven days and 18% across two weeks.<\/p>\n Additionally, it has lost 23% of its value this past month and is currently sitting about 30% below its all-time high of over $126,000, reached in October.<\/p>\n The recent downturn has been characterized<\/a> by a distinct \u201cinstitutional redistribution,\u201d where the largest whale cohorts, specifically those holding between 1,000 and 10,000+ BTC, have been consistent net sellers, taking profits and creating a persistent headwind for any significant rally.<\/p>\n At the same time, data from Santiment shows the number of wallets holding 100 BTC or more has increased by 0.47% since November 11, adding 91 new wallets to this tier. This shows accumulation is happening, but primarily in the mid-sized whale category of 10 to 1,000 BTC holders, rather than the very largest.<\/p>\nYou may also like:<\/h3>\n
Recent Price Movement<\/h2>\n
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