Bitcoin dropped below $90,000 after reaching approximately $94,000 earlier this week. The pullback has sparked debate among market participants about whether this represents a temporary correction or signals the end of recent upward momentum. The cryptocurrency is trading near $89,415, down over 3% in the past 24 hours.

Bitcoin trades within a $86,000–$92,000 range, with the $87,400–$88,700 zone identified as critical support containing key Fibonacci levels from the recent decline. Analysts MakroVision and Michaël van de Poppe suggest the market may be approaching a bottom, but warn that failure to break above $92,000 could trigger another decline toward the low-$80,000s. Both emphasize that sustained recovery depends on holding current support or completing a double-bottom formation before reversing.

Bitcoin remains below $90,000, but three factors continue to support a potential year-end rally to $100,000. The Federal Reserve ended its quantitative tightening program on December 1, creating expectations for monetary easing. Order-book data shows key liquidity zones at $90,000 and $94,500, while technical charts indicate a possible breakout above $95,000 resistance if support at $84,000 holds.

BitMine Immersion Technologies purchased 22,676 ETH valued at $68.67 million on December 6, according to blockchain data. The acquisition follows a December 5 purchase of 41,946 ETH worth $130.78 million, bringing the company's total accumulation to over 64,000 ETH worth approximately $199 million within 24 hours.

SpaceX transferred approximately 2,246 BTC in transactions exceeding $200 million over a 12-hour period and the preceding week, according to Arkham Intelligence. The aerospace company maintains control of more than 5,012 BTC valued at approximately $448 million. Blockchain analysis shows no confirmed connections between destination wallets and known cryptocurrency exchanges.

Seven Chinese industry associations supervised by the People's Bank of China and China Securities Regulatory Commission issued a joint notice warning firms against trading or issuing tokenized real-world assets within mainland China. The notice represents the first formal industry warning on RWA tokenization and states that foreign firms and their China-based employees engaging in such activities could face legal consequences. Chinese authorities have not approved any tokenization activities for real-world assets.

Ethereum activated its Fusaka hard fork on December 3, 2025, introducing EIP-7825, which limits individual transactions to 30 million gas to prevent any single transaction from monopolizing block capacity. The change enables predictable zero-knowledge proof processing with worst-case verification times under five seconds. ZK systems can now handle blocks containing 100–200 million gas in real time, supporting Ethereum's scaling objectives, according to Michael Dong, co-founder of Brevis ZK co-processor.

CoinShares head of research James Butterfill has rejected insolvency concerns about Tether following warnings from BitMEX founder Arthur Hayes. Butterfill stated that Tether maintains over $181 billion in reserves against approximately $174.45 billion in liabilities, resulting in a surplus of around $6.78 billion. Hayes had warned on November 30 that a 30% decline in Tether's Bitcoin and gold holdings could eliminate the company's equity.