Bitcoin is holding just above the $93,000 mark today, December 4, 2025, extending a sharp rebound from an early‑week dive below $84,000. Traders are pointing to renewed Federal Reserve rate‑cut expectations, sustained spot Bitcoin ETF inflows and improving regulatory headlines as key drivers of the move, even as some analysts warn December might be a tricky month to chase the rally. [1]
Bitcoin price today, 4 December 2025: Key numbers
According to live market data from major aggregators:
- Current price: around $93,300–$93,600 per BTC [2]
- 24h change: roughly flat to +0.1% versus yesterday, after a strong bounce earlier in the week [3]
- 7‑day move: about +2% compared with last Thursday, but still down more than 10% over the past month [4]
- Today’s trading range: roughly $92K–$94K, with intraday highs just above $94,000 [5]
- Market cap: about $1.86 trillion, keeping Bitcoin firmly in “mega‑cap asset” territory [6]
- 24‑hour volume: around $75 billion in BTC changing hands globally [7]
- Distance from all‑time high: still roughly 25–27% below October’s peak near $126,000 [8]
In other words, Bitcoin is no longer at euphoric highs, but it’s also far off the November panic lows — a classic “middle of the range” zone where narratives and flows can tip the balance either way.
From $84K to $93K: a fast December rebound
The story of this week is the snapback from November’s shake‑out:
- After a brutal sell‑off through mid and late November, BTC slid to lows around $82,000–$84,000 on November 21 and again near the start of this week. [9]
- Since Monday’s low near $84K, Bitcoin has climbed roughly 10–11% back to the low $90Ks. [10]
- Investing.com notes BTC is up about 4% over the last 24 hours in its latest update, framing the move as a rebound after a 33% drawdown from October’s record highs above $126K. [11]
- CryptoPotato highlights that BTC briefly tapped above $94,000 for the first time since mid‑November before easing slightly, keeping its market cap above $1.86T and dominance just over 57% of the total crypto market. [12]
So far, buyers have successfully defended the $84K–$86K zone, turning what looked like the start of a deeper bear leg into a relief rally that’s now testing resistance in the low‑to‑mid $90Ks.
Macro backdrop: Fed rate cuts, liquidity “anomalies” and new UK crypto law
Fed rate‑cut hopes are back in play
A big part of today’s optimism is macro‑driven:
- Meyka’s market brief notes that Bitcoin “surged near $93,000” as traders bet on an upcoming Federal Reserve interest‑rate cut, a scenario that tends to weaken the dollar and support risk assets like BTC. [13]
- Lower policy rates generally reduce borrowing costs and increase liquidity, which historically favors high‑volatility, high‑beta assets such as cryptocurrencies.
Investing.com echoes this, arguing that rising rate‑cut expectations, combined with improving regulatory sentiment and institutional accumulation, are underpinning the current rebound heading into December. [14]
The US shutdown “liquidity anomaly” may be ending
An intriguing angle comes from The Cryptonomist, which frames recent volatility as part of a broader liquidity anomaly tied to the record‑long U.S. government shutdown that began on October 1. [15]
- During the shutdown, more than $150 billion in government funds piled up instead of flowing into markets, temporarily draining liquidity. [16]
- The shutdown formally ended on November 12, and over the following weeks, those funds began to be released back into the system.
- Their analysis suggests that as liquidity normalizes, conditions could favor a “Christmas rally” in risk assets, with Bitcoin one of the main potential beneficiaries. [17]
In this view, part of Bitcoin’s bounce is not just about crypto, but about global dollar flows “turning back on”.
UK formally recognises crypto as property
Regulation is another piece of today’s story:
- The UK has just passed the Property Act 2025, creating a formal legal category for digital assets and confirming that cryptocurrencies can be treated as a distinct type of personal property. [18]
- The law means digital assets can be included in bankruptcy and insolvency proceedings and clarifies criteria such as definability, identifiability and permanence for crypto to qualify as property. [19]
- At the same time, UK ministers are working on measures to ban political donations made via crypto, over concerns about transparency and foreign influence. [20]
While these legal changes aren’t moving the Bitcoin chart tick‑by‑tick, they feed into a broader narrative of growing institutional and legal clarity around digital assets.
Spot ETF flows and the new “structural bid” for BTC
If 2021–2022 was the era of over‑leveraged perpetuals and retail FOMO, 2025 is increasingly about spot ETFs and treasuries:
- CoinCentral and Bitcoinist both highlight that U.S. spot Bitcoin ETFs have logged five straight days of net inflows through December 2, adding around $58.5 million in a single day, even as prices were still under pressure. [21]
- BlackRock’s IBIT led those flows with about $120.1 million in one session, underlining how much ETF demand matters at current market size. [22]
- Pintu’s Bitcoin update notes that this renewed institutional interest via spot ETFs has been a key driver of the recovery back above $93K, with daily trading volume around $86 billion during the recent spike. [23]
Traditional finance is leaning in as well:
- Bank of America has reportedly suggested that investors consider around 4% portfolio allocation to digital assets. [24]
- Vanguard, long seen as crypto‑sceptical, is now offering Bitcoin, XRP, Solana and Ethereum ETFs on its platform, which many see as a major credibility boost for the asset class. [25]
On the corporate side, Strategy Inc (widely viewed as the proxy for MicroStrategy) has updated its guidance:
- The firm now holds about 650,000 BTC, roughly 3.1% of Bitcoin’s ultimate 21 million supply, and has created a $1.44 billion USD reserve to support dividends and debt servicing alongside its BTC stack. [26]
- Strategy’s internal modelling now uses a year‑end 2025 BTC price range of $85,000–$110,000 for earnings scenarios, down from a prior “street consensus” assumption around $150,000. [27]
Meanwhile, CoinGecko estimates that public companies and governments hold roughly 1.69 million BTC in their treasuries, underscoring how much of the supply is now in long‑term, non‑retail hands. [28]
Together, ETF and treasury positions help create what some analysts call a “structural bid” under the market — though they also mean that macro or regulatory shocks can have outsized effects.
Technical picture: $93K pivot, $99K resistance
From a price‑action standpoint, today’s zone around $93K has become a key battleground:
- Meyka’s analysis identifies support clusters around $91,500–$92,000 and near‑term resistance in the $94,500–$95,000 area. The $93K level itself is treated as a psychological pivot where bulls want to flip former resistance into support. [29]
- On lower timeframes, traders are watching short liquidation bands between $93K and $95K, alongside a positive Coinbase premium, as signs that U.S. spot demand is back in force. [30]
- CryptoPotato notes that BTC briefly pushed above $94K for the first time since November 17 before sellers stepped in, confirming that level as an important multi‑week high to beat. [31]
Volatility signals are also flashing:
- CoinCentral points out that after roughly $19 billion in October liquidations that drove BTC as low as $82,000, the market is now operating on a “leaner leverage base”, potentially reducing the risk of cascade‑style wipeouts. [32]
- The same report, citing analyst Gert van Lagen, notes that Bollinger Band Width on the monthly chart has dropped below 100, a historically rare signal that has often preceded parabolic upside moves in past cycles. [33]
For short‑term traders, the simple roadmap many are watching is:
- Hold $92K–$93K → re‑test $94K–$95K → potential push to $99K
- Lose $92K decisively → revisit $88K–$90K or even $84K if risk sentiment sours
None of this is guaranteed, but it explains why intraday flows are so focused on each bounce and rejection around $93K.
Bullish forecasts: $99K, $120K, even $200K?
With price stabilizing back in the $90Ks, the bold forecasts are returning:
- Analyst Ali Martinez pegs $99K as the next major resistance zone. If BTC clears that, his pricing bands point to the next target region around $122K. [34]
- Pintu’s update summarises multiple analyst views calling for a potential move to $120K–$140K if ETFs keep sucking in capital and the Bollinger‑band signal plays out like previous cycles. [35]
- Bitcoinist’s live coverage highlights Arthur Hayes eyeing $200K BTC by the end of 2025, while other high‑profile bulls like Tom Lee say they remain confident Bitcoin can reclaim $100K before the year is out. [36]
- Strategy Inc’s revised internal scenarios, while more conservative than earlier Wall Street calls, still assume $85K–$110K BTC by year‑end as a base case range for their earnings guidance. [37]
In short: the optimistic camp sees the recent drawdown as a “cleansing” correction that has flushed leverage, attracted ETF inflows at lower prices and potentially set the stage for a late‑cycle melt‑up — if macro conditions cooperate.
Bearish takes: miners, leverage and a hot December
Not everyone is eager to chase BTC near $93K.
BlockchainReporter’s December 4th analysis strikes a more cautious note: [38]
- Bitcoin’s surge above $91,000 happened fast, and on‑chain data show a 3.7% rise in miner flows to exchanges over the last 72 hours, a sign that miners may be trimming treasuries into strength rather than aggressively hoarding.
- BTC is still up about 129% year‑to‑date, and short‑term realized profits are near multi‑year highs, meaning many recent buyers are sitting on gains and may sell into further rallies.
- Derivatives data indicate that long liquidations climbed to around $612 million in the final week of November, suggesting leverage was already crowded before the current bounce. New longs entering here risk fueling volatility rather than steady trend continuation.
Watcher.Guru’s coverage of the last few weeks paints a similar backdrop: BTC is up over the last 7–14 days, but still roughly 12% lower on the month and 2–3% below its level a year ago, underscoring that this is more of a recovery in a choppy environment than a clean breakout into price discovery. [39]
CoinCentral also reminds readers that December has historically been a quieter month for Bitcoin, with average returns under 5%, while November — usually its strongest month — actually delivered a 17% drop this year, breaking the traditional cycle patterns. [40]
Put together, the bearish or cautious camp worries that:
- BTC is rallying into strong resistance with many holders in profit
- Miners and derivatives traders may sell into the December narrative
- Seasonality is no longer a reliable guide, making volatility around macro headlines more dangerous for late entrants
Wider crypto market: ETH pops on Fusaka, altcoins follow (selectively)
Beyond Bitcoin, the rest of the crypto market has mostly taken the cue:
- CryptoPotato reports that Ethereum jumped above $3,250, a three‑week high, after the successful Fusaka upgrade, making ETH one of today’s standout large caps. [41]
- Other majors such as BNB, SOL, TRX and ADA are posting more modest gains, while some names like XRP and DOGE lag in the red. Altcoins TAO and ZEC are among the day’s stronger performers. [42]
- The total crypto market cap has added around $40 billion in 24 hours, climbing above $3.26 trillion. [43]
- 99Bitcoins’ live crypto feed notes that ETH breaking above $3.2K and speculative flows into memecoins (like PIPPIN, up triple digits on the day) are reinforcing a “risk‑on” tone across parts of the market. [44]
Still, dominance metrics show Bitcoin remains in firm control, with roughly 57% of total crypto market value, reminding traders that BTC’s direction continues to set the tone for most of the asset class. [45]
What to watch next for Bitcoin
For readers tracking BTC through the rest of December, several key signposts stand out:
- Fed communication and U.S. data
- Any hints that the Federal Reserve might accelerate or delay rate cuts could quickly shift risk sentiment — and by extension, BTC’s appeal as a macro bet. [46]
- Spot ETF net flows
- Continued positive inflows into U.S. spot Bitcoin ETFs, especially heavy buying by funds like BlackRock’s IBIT, would support the idea of a durable institutional floor under prices. Sustained outflows would tell a very different story. [47]
- Price action around $92K–$95K
- Holding $92K–$93K and reclaiming $94K–$95K with strong volume would strengthen the bull case for a run at $99K.
- A clean breakdown back into the high‑$80Ks would suggest the bounce is more relief than reversal. [48]
- On‑chain signals from miners and long‑term holders
- Rising miner transfers to exchanges and elevated realized profits can flag exhaustion.
- Conversely, continued accumulation by long‑term holders, treasuries and ETFs would keep the structural bid narrative alive. [49]
- Regulatory headlines
- The UK’s Property Act 2025 is likely just one of several legal milestones ahead for crypto. How other jurisdictions follow — especially on taxation, stablecoins and political donations — could influence institutional comfort levels. [50]
Bottom line
On December 4, 2025, Bitcoin is stabilizing near $93K, roughly:
- 2% higher than a week ago,
- about 10–11% above this week’s lows, yet
- more than 25% below its October all‑time high. [51]
The bullish narrative centers on Fed rate‑cut hopes, spot ETF inflows, and technical signals that hint at a possible push toward $99K–$120K and beyond. The bearish or cautious narrative focuses on miner selling, crowded derivatives positioning, and seasonal uncertainty, warning that chasing BTC in the $90Ks without a clear risk plan may be dangerous.
As always, Bitcoin remains highly volatile and speculative. Nothing in this article is investment advice; anyone considering exposure to BTC or other cryptocurrencies should carefully assess their risk tolerance, time horizon and broader financial situation, and, where appropriate, seek independent professional guidance.
References
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