As of around 3:30 p.m. EST on December 5, 2025, Bitcoin (BTC) is trading just under $90,000, hovering in roughly the $89,500–$90,000 zone after a highly volatile session that saw prices swing between an intraday high above $92,000 and lows around $88,000. [1]
The move extends a choppy week in which BTC has slipped about 2–3% over 24 hours and is now roughly 5% belowWednesday’s local peak near $94,000. [2]
Key Takeaways
- BTC price today: Around $89.5K–$90K at 3:30 p.m. EST, with a daily range of roughly $88.3K–$92.7K and a 24‑hour drop of about 2.5–3%. [3]
- Flash drop to $88K: Earlier in the day, Bitcoin fell to a five‑day low near $88,000, triggering roughly $500 million in crypto liquidations across the market. [4]
- ETF pressure: BlackRock’s flagship Bitcoin ETF, IBIT, has seen over $2.7 billion in outflows over the past five weeks, amplifying market anxiety as BTC trades well below its October all‑time high. [5]
- Big buyers at $84K: On‑chain data highlights 300,000 BTC accumulated around $84,000, suggesting a potential “floor” zone as long‑term buyers step in. [6]
- Diverging forecasts: Short‑term technical analysts see range‑bound trading below $95K, while models from major banks and analytics firms place fair‑value or long‑term targets between $95K and $194K+. [7]
Bitcoin Price Today (December 5, 2025, 3:30 p.m. EST)
Real‑time market data shows Bitcoin trading around $89,456, down roughly 2.9% over the previous session. The intraday high sits near $92,665, with a low around $88,333, underscoring the sharp intraday volatility.
Daily historical data from major exchanges confirms that BTC has: [8]
- Opened the day near $92.1K,
- Spiked as high as around $92.7K,
- Dropped as low as roughly $88.1K,
- And is on track to close just under $90K, depending on late‑session flows.
Earlier in the afternoon, one prominent technical update put BTC at around $90,226, also highlighting a narrowing range and declining trading volume — a classic sign of a market waiting for its next catalyst. [9]
From $93K to $88K: What Triggered Today’s Volatility?
Bitcoin entered Friday’s session consolidating above $90,000, but that calm didn’t last. Reports from multiple crypto news desks show:
- A sudden plunge to about $88,000, marking a new five‑day low.
- Roughly $500 million in liquidations, mostly hitting over‑leveraged long positions. [10]
A widely shared analysis describes how Bitcoin’s “apparent calmness” above $90K gave way to a rapid flush lower, dragging major altcoins down with it as derivatives traders were forced out of positions. [11]
Bitcoin Magazine and other outlets note that even as spot prices test the high‑$80K area, JPMorgan is still holding a long‑term theoretical target near $170,000, based on a volatility‑adjusted model comparing Bitcoin to gold. [12]
Put simply: today’s drop looks less like a fundamental collapse and more like a leverage shake‑out in an already nervous market.
Macro Drivers: Fed Cut Bets, Inflation Data and Risk Sentiment
Today’s price action doesn’t exist in a vacuum. Traditional macro drivers are front and center:
- An upcoming U.S. PCE inflation release and shifting odds of a Federal Reserve rate cut are in focus. A detailed market wrap from Investing.com notes that traders are once again debating whether the Fed could move as soon as the next meeting, with some banks talking up the risk of a December or January cut. [13]
- A recent macro overview frames late‑2025 as a “turbulent but transitional” year for risk assets, with crypto trading alongside equities as investors reposition for 2026. [14]
Risk‑on assets like Bitcoin are particularly sensitive to rate‑cut expectations:
- More aggressive easing tends to support BTC by weakening the dollar and boosting liquidity.
- Delayed or doubtful cuts can trigger “risk‑off” episodes — exactly the kind of environment where a quick flush to $88K becomes more likely. [15]
ETF Outflows and Market Structure: Why $90K Feels Heavy
One of the clearest themes today is ETF pressure.
A fresh report on BlackRock’s spot Bitcoin ETF, IBIT, highlights over $2.7 billion in cumulative outflows over the past five weeks, as some investors take profit and others rotate into cash or traditional assets. [16]
At the same time, a weekly market note covering November 29 to December 5 shows Bitcoin again cycling through a four‑phase structure:
Consolidation → plunge → rebound → renewed volatility,
with ETF flows described as “slight inflows followed by slight outflows,” leaving overall capital momentum positive but fragile. [17]
Key structural observations from today’s research round‑up:
- ETF flows are no longer one‑way bullish: net inflows earlier in the week gave way to net outflows, matching the move down from the low‑$90Ks. [18]
- Derivatives leverage has reset since the brutal October 10 “10/10” crash and November capitulation; Bitfinex’s latest report argues that the market is now on a “leaner leverage base,” making another 2020‑style wipeout less likely even as volatility stays elevated. [19]
In short, there’s less structural leverage but more tactical positioning via ETFs and options — a mix that can still produce sharp intraday swings like today’s.
Where Are the Big Buyers? The $84K–$88K Demand Zone
If there’s a silver lining for bulls, it’s the emergence of a dense demand cluster below current prices.
A new on‑chain study estimates that roughly 300,000 BTC was accumulated around the $84,000 level, mostly by larger buyers using the autumn dip to add to their positions. [20]
That accumulation, combined with the behavior of long‑term holders, suggests:
- $84K–$86K is shaping up as a key structural support zone. [21]
- As long as BTC stays above this band, analysts see the current price action as a correction within a broader uptrend that started earlier in 2025. [22]
U.Today’s daily analysis also highlights the $88,000–$89,000 region as an important area: a close in or below this band could extend the correction, while a reclaim of the low‑$90Ks would ease immediate downside pressure. [23]
Short‑Term Bitcoin Price Forecasts for December 2025
Across today’s research notes, short‑term views cluster around a few core themes.
1. Range‑Bound Below $95K
Several technical commentaries describe BTC as compressing below $95K, with analysts warning that such tight ranges often precede a more decisive move. An Investing.com analysis frames the current structure as price compression below resistance, which “may spark a larger move ahead” once volatility breaks out. [24]
A separate TradingView / Coinpedia update says BTC is in a “decisive phase,” with traders watching for a breakout from the recent consolidation band; failure would send the price back toward lower support levels. [25]
2. Immediate Resistance Around $93K–$94K, Psychological Barrier at $100K
Short‑term trading desks broadly identify:
- Resistance:
- Support:
3. Volatility With a Bearish Tilt in the Very Short Term
A daily forecast compiled by Changelly notes: [31]
- A Fear & Greed Index reading of 28 (“Fear”),
- Only 12 green days out of the last 30,
- About 6.9% price volatility over the past month,
- And a modest model‑based projection for BTC to edge back toward $92,192 by December 8.
Taken together, today’s short‑term outlook is cautious: most analysts see BTC chopping between mid‑$80Ks and low‑$90Ks, with any break of that range likely to set the tone for the rest of December.
Longer‑Term Outlook: 95K, 170K, 194K – A Wide Forecast Range
While traders focus on whether BTC closes above or below $90K today, longer‑term projections published on December 5 paint an even more dramatic picture.
Fair‑Value Models and Crypto‑Native Research
A detailed model review from The Coin Republic argues that Bitcoin’s “fair value” path points toward $194,000 by the end of 2025, with upper deviation bands implying an “overheated but achievable” scenario well above current prices — as long as BTC does not sustain a move well below $110K for an extended period. [32]
Another short‑term narrative from CoinCentral sets a nearer‑term target of $95K, framing Bitcoin’s struggle around $90K as a potential staging area for a move back toward that level once selling pressure eases. [33]
JPMorgan’s 170K Target
On the institutional side, JPMorgan has reiterated a theoretical Bitcoin price near $170,000 over the next 6–12 months, based on a volatility‑adjusted comparison with gold. The bank acknowledges the recent drop from an October all‑time high above $120,000 to lows near $82,000, but still sees room for substantial upside if macro conditions and institutional adoption remain supportive. [34]
Saylor, Corporates and Long‑Term Accumulators
CoinCentral also highlights continued accumulation by high‑profile Bitcoin believers such as Michael Saylor, who has kept adding BTC even as the market cools from its October peak. This ongoing corporate and institutional stacking reinforces the narrative that every deep correction is being used by at least some large players to increase exposure. [35]
That said, both bank research and crypto‑native models stress that these forecasts are not guarantees and can change quickly with macro shifts, regulatory developments or further structural shocks in the crypto ecosystem.
What to Watch Next
For traders and long‑term investors following Bitcoin after today’s volatility, the main near‑term catalysts to watch include:
- U.S. Inflation and Fed Policy
- The next PCE inflation print and any fresh guidance from the Federal Reserve could reset expectations for 2026 rates — and with them, appetite for risk assets like BTC. [36]
- Spot ETF Flows
- Continued outflows from IBIT or other spot ETFs would signal persistent profit‑taking or waning institutional enthusiasm, while a flip back to net inflows could provide a strong tailwind. [37]
- Key Support Levels: $88K, $86K, $84K
- Holding above this “ladder” of support zones keeps the bullish longer‑term thesis intact; losing them, particularly $84K, would raise the odds of a deeper correction toward $80K. [38]
- Market Sentiment and Fear & Greed Index
- With sentiment currently in “fear” territory, a shift back toward neutral or greed on the back of stronger price action would confirm that the worst of this pullback is over — at least for now. [39]
Risk Reminder
Bitcoin remains a highly volatile, speculative asset. Large intraday moves like today’s drop to $88K can occur with little warning, and leverage — via futures, options, or ETF products — can magnify both gains and losses.
Nothing in this article constitutes financial or investment advice. Always consider your own risk tolerance, time horizon, and, where appropriate, seek professional guidance before making investment decisions in cryptocurrencies.
References
1. u.today, 2. twelvedata.com, 3. twelvedata.com, 4. cryptopotato.com, 5. coincentral.com, 6. cryptopotato.com, 7. www.thecoinrepublic.com, 8. twelvedata.com, 9. u.today, 10. cryptopotato.com, 11. cryptopotato.com, 12. bingx.com, 13. www.investing.com, 14. www.investing.com, 15. www.investing.com, 16. coincentral.com, 17. www.chaincatcher.com, 18. www.chaincatcher.com, 19. www.thecoinrepublic.com, 20. cryptopotato.com, 21. cryptopotato.com, 22. www.thecoinrepublic.com, 23. u.today, 24. www.investing.com, 25. www.tradingview.com, 26. www.coindesk.com, 27. www.fxleaders.com, 28. u.today, 29. www.ainvest.com, 30. cryptopotato.com, 31. changelly.com, 32. www.thecoinrepublic.com, 33. coincentral.com, 34. bingx.com, 35. coincentral.com, 36. www.investing.com, 37. coincentral.com, 38. cryptopotato.com, 39. changelly.com
