Bitcoin price fell more than 1% over the past 24 hours, trading at $90,421 at 2:42 a.m. EST, while trading volume rose 10% to $45.1 billion.
This drop in the BTC price comes as data from Santiment shows that more than 403,000 Bitcoins have disappeared from exchanges since December 7, 2024, which is approximately 2% of the total cryptocurrency supply. Santiment said this is a positive sign for the market.
📊 While Bitcoin’s market cap hovers around $90,000, the cryptocurrency’s market cap continues to see supply pull away from exchanges. In the past year there have been:
📉 A net total of -403.2K $BTC abolish exchanges
📉 A net reduction of -2.09% of $BTC’s entire offering moves… pic.twitter.com/Y0JTC880Np— Santiment (@santimentfeed) December 8, 2025
This move represents a fundamental shift from short-term trading to long-term investing. When BTC is listed on an exchange, it is often considered for sale. Therefore, its removal suggests that investors are opting for self-custody.
“While Bitcoin’s market cap hovers around $90,000, the cryptocurrency’s market cap continues to see supply pull away from exchanges,” Santiment said.
While much of the Bitcoin on the exchanges is returning to hodler wallets, the crypto king recently registered one of its weakest November performances since 2018, according to Presto Research.
📊 Data Focus 📊
Worst November for BTC since 2018
Crypto Flow Report: November 2025
Through @scopicviewFull report here: https://t.co/mLl2jV701p pic.twitter.com/2lXS5v9tuI
— Presto Research (@Presto_Research) December 9, 2025
BTC posted monthly declines of around 20-25%. So far, Bitcoin price has tried to recover above the $90,000 zone but was rejected around the $94,000 level. Can the price still rise?
Bitcoin price is trading above key support levels, poised for a rally
The BTC price rose in 2025 and reached an all-time high of around $125,761 in October, according to the Binance BTC/USD chart.
However, sellers started booking profits after the significant move, causing the Bitcoin price to form a bearish rounded top pattern. This led to the price of BTC breaching key support levels on the Fibonacci Retracement chart.
Year to date, Bitcoin’s price is trading well above the 0.786 Fib level at $85,270, but below the 0.618 Fib level at $93,897, as bulls set the price on a recovery.
BTC is still trading above the 200 Simple Moving Average (SMA) on the 3-day chart, indicating that bulls could regain full control of the asset. However, the 50 SMA acts as the next potential long-term resistance zone around $109,137.
Meanwhile, the Relative Strength Index (RSI) appears to be recovering from the 30-oversold region to the current level of 35, indicating that buyers may be regaining control.
BTC price prediction
According to the BTC/USD chart analysis over the three-day time frame, BTC sits just above the 200 SMA ($88,821), which acts as immediate support.
If buyers defend that level, a recovery towards the 0.618 Fibonacci zone near $94,000-$100,000 is possible, with a stronger bullish extension targeting the 50 SMA around $109,000.
A decisive breakout above that region could reopen the path to the previous high around $125,000.
However, if Bitcoin price falls below the 200 SMA and fails to regain the 0.786 Fib level ($85,200), downside pressure could increase. In that scenario, the price could move towards the lower Fibonacci limit again, near $74,000, where a larger demand zone is located.
According to Ali Martinez, an analyst from
Bitcoin $BTC: If this is a bearish flag, the target is $70,000. pic.twitter.com/wI72dGQP6P
— Ali (@ali_charts) December 9, 2025
Overall, the next big move depends on whether BTC price can hold above the 200 SMA on the 3-day chart and regain momentum towards the center of the Fibonacci cluster.
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