Bitcoin price today, December 11, 2025, is hovering around the $90,000 mark after slipping below that psychological level overnight. Across major data providers, BTC is down roughly 2–2.5% over the past 24 hours, with a 24‑hour range of about $89,600 to $94,000 and a market capitalization near $1.8 trillion. [1]
The move caps a volatile reaction to the U.S. Federal Reserve’s third rate cut of 2025, which traders widely describe as a “hawkish cut” rather than a straightforward green light for risk assets like Bitcoin. [2]
Bitcoin price today (December 11, 2025): key numbers
Because crypto markets trade 24/7, exact levels vary slightly by platform. As of the latest widely reported data on December 11, 2025:
- Spot price: around $90,000–$90,500 per BTC
- 24‑hour range: roughly $89,600 – $94,200. [5]
- 24‑hour change: about ‑2% to ‑2.5% depending on feed. [6]
- Market cap: about $1.8 trillion, according to multiple data providers tracking BTC’s circulating supply. [7]
- 24‑hour trading volume: around $55–60 billion. [8]
On a slightly longer horizon, daily data show Bitcoin has drifted lower from the mid‑$90,000s in early December and is now consolidating in a tight band just above and below $90,000. [9]
Note: All market data are approximate and can change quickly. They’re provided for informational purposes only and are not financial advice.
Why is Bitcoin down today? The Fed’s “hawkish cut” and a classic sell‑the‑news move
1. The third Fed rate cut of 2025
On December 10, the U.S. Federal Reserve cut its benchmark rate by 25 basis points, bringing the federal funds range to 3.50%–3.75%, its third straight cut this year. [10]
While lower rates typically support risk assets, markets had already priced in the move, with futures assigning a very high probability to the cut before the meeting. [11]
Analysts at crypto.news and other outlets characterize the decision as a “hawkish cut”:
- Fed Chair Jerome Powell signaled limited additional easing, with projections showing only one more cut pencilled in for 2026. [12]
- The 10‑year U.S. Treasury yield rose to around 4.25% after the announcement, effectively tightening financial conditions even as short‑term rates fell. [13]
- The decision itself was unusually split, with three policymakers dissenting, underscoring internal uncertainty and confusing markets about the path ahead. [14]
Instead of a simple “cheap money” story, traders saw a central bank that has less room to cut later if the economy weakens further — not exactly the backdrop for a blow‑off crypto rally. [15]
2. Sell‑the‑news reaction and leveraged positioning
Immediately after the Fed announcement, Bitcoin briefly spiked above $94,000 alongside altcoins, helped by strong spot Bitcoin ETF inflows (more than $220 million in net inflows in U.S. spot BTC ETFs that day, led by BlackRock’s IBIT and Fidelity’s FBTC). [16]
But the follow‑through faded quickly:
- Crypto.news reports that the total crypto market cap fell about 3% to $3.1 trillion, with BTC sliding from an intraday high above $94,000 to under $90,000, and 24‑hour liquidations around $519 million, including more than $370 million in long positions. [17]
- Cryptonews’ live market blog notes BTC breaking below $91,000 as sector indices turned lower, with heavy losses in AI and DePIN tokens. [18]
In other words: leverage was leaning long into the Fed meeting, the cut arrived as expected, Powell sounded cautious, yields rose — and a “sell‑the‑news” flush cleaned out over‑extended positions. [19]
3. Global yields and yen carry trade tension
The Fed wasn’t the only macro story. Rising global yields are pressuring the high‑beta corners of the market:
- Japan’s 2‑year government bond yield climbed above 1%, the highest in roughly a decade, raising the cost of yen‑funded carry trades often used to leverage crypto positions. [20]
- As those trades become more expensive, some leveraged players are forced to reduce risk, adding to BTC’s downside momentum. [21]
Put together, Bitcoin’s drop today looks less like a single event and more like the intersection of a hawkish Fed, stretched leverage, and tightening global liquidity conditions.
AI jitters, silver’s breakout and why crypto feels “left behind”
This week’s Bitcoin weakness is also part of a broader cross‑asset story.
AI‑linked tech disappoints
Meyka, an AI‑driven research platform, points out that BTC’s dip below $90,000 came as earnings and outlook from AI‑linked tech stocks underwhelmed, souring sentiment toward high‑growth, high‑risk assets. [22]
Their analysis argues that:
- Bitcoin is increasingly trading as part of a wider tech and AI risk complex, not just a standalone “digital gold”.
- When investors worry that AI spending won’t translate into near‑term profits, that caution can spill over into Bitcoin and other crypto assets. [23]
Silver vs Bitcoin: a surprising performance gap
BeInCrypto highlights a striking divergence: silver is hitting new all‑time highs while Bitcoin has stumbled. [24]
Key points from their feature:
- Silver ETFs are on track for a 10th straight month of inflows, with the largest fund, SLV, seeing almost $1 billion in weekly inflows, outpacing major gold funds. [25]
- Bitcoin, meanwhile, has fallen more than 2% over the last day and is underperforming not only silver and gold but also major equity indices such as the S&P 500 and Nasdaq in 2025. [26]
- Some commentators still see silver’s move as a risk‑on, not risk‑off signal, arguing that once the current wave of BTC selling is exhausted, a “catch‑up trade” could emerge in Bitcoin. [27]
Net effect: markets are redistributing risk rather than uniformly fleeing it — and for now, Bitcoin is one of the assets being trimmed.
On‑chain data and ETF flows: are sellers running out of steam?
Despite today’s pullback, several data points suggest selling pressure may be moderating, even as price drifts lower.
FXStreet, citing analytics from CryptoQuant, notes that: [28]
- The share of exchange deposits made by large holders has been trending lower, meaning fewer “whale” coins are being sent to exchanges to be sold.
- The average deposit size is also falling, hinting that smaller, possibly weaker‑handed traders are driving much of the recent activity.
- Realized loss metrics show that bigger addresses have already locked in significant losses on recent moves, which can reduce their incentive to keep selling at these levels.
On the demand side, spot Bitcoin ETFs remain a critical source of structural buying:
- Coinspeaker reports that U.S. spot BTC ETFs saw about $223.5 million in net inflows on the day of the Fed cut alone, with BlackRock’s IBIT accounting for nearly $193 million and Fidelity’s FBTC adding about $30 million. [29]
- Crypto.news adds that derivatives open interest has eased only modestly, staying around $131 billion, while the Crypto Fear & Greed Index sits in the “fear” zone, not outright panic. [30]
In short, spot ETF demand and a partial cooldown in whale selling provide some undercurrent of support even as the headline price looks heavy.
Short‑term Bitcoin forecasts: support and resistance levels traders are watching
Analysts publishing today (December 11, 2025) broadly agree that Bitcoin is in a choppy, range‑bound phase rather than a full‑blown meltdown. Here are the key zones and narratives they’re watching:
Immediate support zones
- $91,800:
- 99Bitcoins highlights $91,800 as a key short‑term support level. BTC has been consolidating above this area in recent weeks, forming higher lows since late November. [31]
- Analyst Michaël van de Poppe argues that if BTC manages to hold this region, a move toward $100,000 remains on the table as price “takes out the highs and starts to accelerate.” [32]
- $90,000:
- Widely seen as a psychological line in the sand. Live coverage from Cryptonews and Coinpedia both highlight BTC slipping below $91K and even $90K intraday as a warning sign, but not yet a breakdown of long‑term structure. [33]
- $88,000 – $84,000:
- Crypto.news cites $88,000–$84,000 as the first “stronger support” region if current levels fail, aligning with areas where traders expect more committed dip‑buying. [34]
- DailyForex’s technical commentary suggests that sub‑$88,000 is where “alarm bells” would start ringing, implying a deeper correction toward $85,000 or lower. [35]
- FXStreet’s Fibonacci analysis places an important support near $85,569, around the 78.6% retracement of the April–October rally. [36]
Resistance and breakout targets
- $94,000–$96,000:
- The recent intraday high above $94,000 coincides closely with a 61.8% Fibonacci retracement area flagged by FXStreet near $94,253. Price was rejected here, reinforcing it as a near‑term ceiling. [37]
- Coinpedia’s live update describes $96,000 as a “key breakout level”: a decisive move above it could hand “full control” back to the bulls, with recent volatility framed as a sequence of shakeouts against weak buyers. [38]
- $99,000–$102,000:
- FXStreet argues that if selling pressure remains muted and ETF inflows strengthen, BTC could retest $99,000, then $102,000, as the next upside targets. [39]
- $100,000 psychologically:
- Multiple analysts — from 99Bitcoins’ coverage of van de Poppe’s charts to crypto.news’ interviews — note that any sustained break above six figures would likely reignite FOMO and shift the narrative from “topping out” to “late‑cycle melt‑up.” [40]
Pattern watch: wedge, pennant, and quantile clues
- Rising wedge / bearish pennant:
- DailyForex sees BTC trading below the 50‑day EMA and trapped inside a rising wedge that looks like part of a larger bearish pennant pattern, implying elevated risk of a trend‑continuation drop toward $85,000 if support gives way. [41]
- Range shakeouts and quantile model:
- Coinpedia’s quantile model places BTC around $92,156 in a 34.5/100 historical quantile, meaning price has been higher about 65.5% of the time. That framing suggests room for upside over the next 1–2 years if macro conditions improve. [42]
- Their live commentary also argues that recent volatility looks like a series of shakeouts, designed to flush out weak hands, with a clean breakout above $96,000 a potential trigger for a sharp rally. [43]
Collectively, today’s technical outlook paints a picture of compressed, conflicted price action: the downside appears contained above the mid‑$80Ks for now, but bulls still need to reclaim the mid‑$90Ks to prove that the uptrend is fully back on.
Standard Chartered slashes its Bitcoin forecast — but stays long‑term bullish
One of the day’s most talked‑about headlines comes from Standard Chartered, historically one of the more optimistic banks on Bitcoin.
According to a new note highlighted by AMBCrypto and echoed by other outlets: [44]
- The bank has cut its 2025 year‑end Bitcoin target from $200,000 to $100,000, effectively halving its prior projection.
- Its long‑term $500,000 target has been pushed back from 2028 to 2030.
- Analyst Geoffrey Kendrick cites:
- Corporate treasury “exhaustion” after a massive wave of Bitcoin accumulation in 2024, much of which has now paused.
- A marked slowdown in spot Bitcoin ETF inflows versus the aggressive models used at launch.
In Kendrick’s view, two of Bitcoin’s strongest structural demand engines — corporate treasuries and ETF flows — are “no longer firing at full strength,” forcing a rethink of how quickly BTC can climb from current levels. [45]
Interestingly, Standard Chartered also downplays the traditional halving cycle as the main driver of price:
- The bank argues that with U.S. spot ETFs now live, “halving‑driven” boom‑and‑bust cycles may be less relevant, and severe “crypto winters” could become less frequent in a more institutionally dominated market. [46]
Rethinking Bitcoin’s core narrative: liquidity, not just halvings
In a separate but related line of research, CryptoPotato highlights a new analysis from strategist Shanaka Anslem Perera that challenges one of Bitcoin’s most popular stories: that the block‑reward halving is the main engine of each bull market. [47]
Perera’s argument in brief:
- Every prior post‑halving rally lines up closely with major global liquidity waves — from post‑crisis money expansion to pandemic‑era stimulus — rather than with the halving itself. [48]
- The causal link between halvings and price appreciation is “statistically unprovable,” even after sixteen years of data.
- Research from analyst Lyn Alden showing a 0.94 correlation between Bitcoin and global M2 money supply is cited as further evidence that liquidity cycles, not issuance alone, dominate BTC’s macro behavior. [49]
Perera also points out that the 2024 Bitcoin peak occurred before the April halving, undermining the notion that the event itself triggered the run. Instead, spot ETF approval and global liquidity conditions may have been more decisive. [50]
Taken together with Standard Chartered’s revision, today’s research flow is nudging investors toward a more macro‑driven view of Bitcoin:
Think less in terms of “four‑year halving supercycle” and more in terms of liquidity regimes, ETF demand, and institutional positioning.
Regulation watch: U.S. banks get the green light for “riskless” crypto trades
On the regulatory front, a story with long‑term significance is developing in parallel to today’s price action.
A widely syndicated Cryptopolitan piece notes that the U.S. Office of the Comptroller of the Currency (OCC) issued Interpretive Letter 1188 on December 9, effectively allowing national banks to conduct “riskless principal” crypto trades. [51]
In practice, this means:
- Banks can buy crypto from one customer while simultaneously selling it to another, acting as intermediaries without holding the assets on their own balance sheets.
- The structure is similar to how banks already handle certain bond or FX trades, lowering some regulatory and balance‑sheet frictions around offering crypto execution services. [52]
While this doesn’t put Bitcoin on bank balance sheets, it could expand regulated access to BTC over time by making it easier for large institutions and high‑net‑worth clients to route orders through familiar banking channels.
Today’s price doesn’t reflect that longer‑term adoption story yet — but it’s a development many macro‑minded investors will be bookmarking.
What today’s Bitcoin move means for traders and long‑term holders
For short‑term traders
If you’re trading BTC intraday or over a few days, today’s environment is all about levels, liquidity, and positioning:
- The market is heavily derivative‑driven, with futures open interest above $130 billion and spot volumes far lower, according to 99Bitcoins and crypto.news. [53]
- Short‑term technicals show a range between roughly $88,000 and $96,000, with multiple analysts warning that a break below $88K could open the door to deeper losses toward the mid‑$80Ks, while a clean break above $94K–$96K might trigger a momentum chase toward $99K–$102K. [54]
- Macro headlines — especially any shifts in Fed expectations, bond yields, or AI/tech sentiment — are likely to remain primary catalysts in the days ahead. [55]
For active traders, that translates into a market where risk management and position sizing matter more than bold directional bets.
For long‑term investors
For multi‑year holders or dollar‑cost‑averagers, the key stories today are less about the intraday dip and more about the evolving structure around Bitcoin:
- Institutional demand is still real, but not as explosive as the most optimistic ETF models assumed.
- Major banks and regulators — from U.S. spot ETFs to the OCC’s riskless principal guidance — are integrating Bitcoin into traditional market plumbing, even as price chops around. [56]
- Research from Standard Chartered and independent strategists suggests BTC’s future path will be shaped more by global liquidity and ETF flows than by halvings alone. [57]
In that sense, Bitcoin price today around $90,000 can be read in two very different ways:
- Bearish lens: BTC has failed several times above $94K–$95K, ETF flows are slowing, and macro conditions are getting tougher.
- Constructive lens: Price is consolidating within 10–15% of all‑time highs, with macro headwinds and structural buyers (ETFs, corporates, banks’ clients) slowly negotiating the next regime.
Whichever lens you favor, the message across today’s research is consistent: volatility remains high, narratives are shifting, and liquidity will likely decide which story wins.
This article is for informational and educational purposes only and does not constitute financial, investment, or trading advice. Cryptocurrency investing is highly risky; never invest money you cannot afford to lose.
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