Bitcoin stabilizes at around $90K; analysts expect a volatile December

At the start of December 2025, the cryptocurrency market remains under pressure after the sharp fall in November, but in recent days it has shown signs of stabilization: Bitcoin (BTC) is trading around $90–92K, remaining roughly 25–30% below the October all-time high of over $120K. According to CoinMarketCap, the total capitalization of the crypto market on December 6–8 is about $3 trillion, which is noticeably below the autumn peak values, against the backdrop of a “December reckoning” – a continuation of the sell-offs that began back in November and intensified because of investors leaving spot Bitcoin ETFs and the unwinding of excess leverage. Ethereum (ETH) is holding above $3K – around $3.1K – and at the start of December looks stronger than Bitcoin: a number of reviews note the local leadership of ETH and some large altcoins amid the recovery after the November decline. Analysts allow for an attempt to move toward $3.5–3.9K if the general improvement in sentiment persists, although they stress that this requires holding the $3K mark as key support. Among the factors shaping December’s dynamics, market participants single out, on the one hand, expectations of a 25 bps cut in the US Fed rate (probability of about 85–90%), which traditionally supports demand for risk assets, including cryptocurrencies, and, on the other, prolonged pressure from long-term holders taking profit and from institutional players reducing positions after the record rally of 2025. The forecast to the end of 2025, in analysts’ estimation, is cautiously neutral. In the short term, the key range for Bitcoin is considered to be $82–100K: a breakout and consolidation above the psychological level of $100K could open the way to a recovery toward $110–120K, while a failure to hold above $86–88K again raises the risk of a pullback to the lower part of the range. As for Ethereum, the base scenario envisages trading in a corridor of roughly $2.8–3.6K, with possible attempts to break higher if global risk appetite improves. Experts stress that the end of the year will be marked by heightened volatility: the market is essentially completing a painful “reset” of excess leverage and speculative positions. This creates the preconditions for more sustainable growth in 2026 based on institutional demand, the tokenization of real assets and further clarification of regulation; however, in the last weeks of 2025, investors, according to analysts, should be prepared for sharp intra-month price swings.