Cumulative short liquidation intensity across major centralized exchanges would reach $1 billion if Bitcoin breaks above $94,000, Coinglass data show as of Dec. 5. Long positions totaling $641 million in liquidation intensity face clearance should Bitcoin fall below $91,000. The liquidation chart represents relative intensity between liquidation clusters rather than precise contract quantities or values, indicating potential market impact magnitude when price reaches specific levels.

The cryptocurrency Fear & Greed Index rose to 28 on Dec. 5, up from 26 the previous day, Alternative data show. The market remains in "Fear" territory. The index ranges from 0 to 100 and weighs volatility (25%), trading volume (25%), social media sentiment (15%), surveys (15%), Bitcoin dominance (10%), and Google Trends (10%).

JPMorgan analysts lowered their Bitcoin production cost estimate to $90,000 from $94,000, based on electricity pricing of $0.05 per kilowatt-hour, according to a Wednesday report by Managing Director Nikolaos Panigirtzoglou and his team. The analysis found high-cost miners face an additional $18,000 in production costs for every $0.01/kWh increase in electricity prices. Downward pressure on Bitcoin prices stems from declining network hashrate and mining difficulty, driven by China's renewed crackdown on private mining and margin compression from lower Bitcoin prices and elevated energy costs forcing high-cost miners outside China to exit. Some high-cost miners have been compelled to sell Bitcoin in recent weeks as elevated electricity prices and lower Bitcoin prices squeeze profitability, with Bitcoin prices continuing to hover below production costs despite the hashrate decline typically benefiting miner revenues.

A BlackRock-linked address received 153.83 BTC worth $14.22 million and 16,930 ETH worth $53.26 million from Coinbase on December 5, Onchain Lens data show. The transfers occurred within a five-hour window, totaling $67.48 million in combined inflows.

A large holder maintains a 20x leveraged long position of 537.83 BTC valued at $49.1 million, currently showing an unrealized loss of $4.49 million after 24 days, Onchain Lens data show. The position's floating loss reached $9.5 million on December 2, but has since narrowed as Bitcoin prices recovered.

Polymarket data show a 50% probability for Bitcoin to reach $100,000 again this year as of December 4, down from 52% the previous day, BlockBeats reports. The prediction market also displays a 15% likelihood for Bitcoin to hit $110,000 and a 27% chance of falling below $80,000.

Matrixport withdrew 2,805 BTC valued at $260.11 million from Binance over an 8-hour period on December 4, Onchain Lens data show. The withdrawal represents a significant movement of Bitcoin off the exchange during the specified timeframe.

Strategy, the largest publicly traded corporate holder of Bitcoin, can avoid forced sales by maintaining its enterprise value-to-Bitcoin holdings ratio above 1.0, currently at 1.13, JPMorgan said on Dec. 4. The firm holds $1.4 billion in dividend and interest reserves, providing a buffer if Bitcoin prices decline further. Strategy's stock has dropped approximately 42% over the past three months amid crypto market downturns, while its Bitcoin acquisition pace slowed to 9,062 BTC last month from 134,480 BTC in the same period a year earlier. A potential removal from the MSCI index could trigger roughly $8.8 billion in outflows.