Bitcoin hovered near $90,400 on Tuesday as crypto markets stabilized after one of the sector’s ugliest November performances since 2018, even as new data showed Europe largely leading the month’s selling pressure.
BTC is up 1% in the past 24 hours while ether added 0.2%, according to CoinGecko. Major altcoins were mixed; BNB gained almost 1%, SOL slipped 0.6%, and XRP fell slightly. The broader market maintained its recent rebound, although liquidity remained weak ahead of Wednesday’s Federal Reserve decision.
New data segmented by time zone from Presto Research showed that Europe was the main driver of the 20-25% declines in BTC and ETH in November, with average session returns turning deeply negative throughout the month. In contrast, sessions in Asia and the United States were largely flat, indicating how regional flows diverged as the crypto deleveraged.
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The November slowdown also coincided with a significant repositioning of listed crypto stocks. Strategy revealed its largest Bitcoin acquisition in over three months on Monday, purchasing 10,624 BTC for $963 million.
This haul, financed largely by new stock issues, brings its total holdings to around 660,600 BTC, worth around $60 billion at current prices. The company’s shares are trading near $180 and remain down about 50% over six months as investors weigh the risk of a pullback from major MSCI indexes.
Meanwhile, the macroeconomic climate remains the main directional constraint for crypto. Asian stocks fell as traders braced for the Fed’s rate cut and any signals on the pace of easing through 2026. Global bond yields remained high after Monday’s fall, adding pressure on high-beta assets.
Crypto-specific sentiment remains fragile. CryptoQuant’s Bull Score Index fell to zero for the first time since January 2022, with most BTC on-chain indicators turning bearish in the absence of new liquidity.
At the same time, several mid-term catalysts are on the horizon, including possible changes to U.S. 401(k) rules in early 2026, which could open up billions in retirement savings to Bitcoin exposure.
Bitcoin last traded near $90,300, with traders watching to see if the market can push towards the $94,000-$98,000 band or if European hours continue to exert pressure as year-end positioning tightens.
