NEW YORK / LONDON (IT BOLTWISE) – Bitcoin posts its longest losing streak since 2024 as markets hope for a possible recovery. Recent Federal Reserve policy adjustments have increased the chances of a rate cut in December, leading to cautious market sentiment.
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Bitcoin, the world’s leading cryptocurrency, is on a sustained losing streak that is the longest since June 2024. Despite a slight increase of 6% since the November 21 low, uncertainty remains high. The current price of $87,400 marks a 24.43% loss in the fourth quarter, marking its worst performance since 2018. This development is influenced by a repricing of Federal Reserve policy, which has increased the probability of a rate cut in December from 40% to almost 70%.
A key market indicator, the aggregate spot bid-ask delta at 10% depth, has reached the second highest level in 2025. This indicates increased demand for Bitcoin as investors take advantage of the opportunity to enter the market. Historically, such a rise has often signaled a bottom forming after a sustained downtrend, leading to a recovery.
However, options traders continue to show caution and hedge against further losses by purchasing put options in the $80,000 to $85,000 range. This caution is compounded by the fact that many digital assets are trading below their net asset value, affecting their ability to accumulate. Spot Bitcoin and Ethereum ETFs are also in the red, further adding to the uncertainty in the market.
Sean Dawson, head of research at options analysis platform Derive, remains skeptical of the current recovery. He warns of a possible bull trap scenario that could see Bitcoin fall into the $70,000-$80,000 range in the short term before recovering to around $90,000 by year-end. The Federal Reserve’s upcoming decisions, including the end of quantitative tightening on December 1st and the interest rate decision on December 10th, could be crucial for the future development of Bitcoin and the broader financial markets.
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