The expert explained the reasons for bitcoin's repeated rollback after recovery

After the November decline to $80,600, bitcoin managed to regain almost all of the lost territory, rising to $93,000, but this rebound proved fragile. Vasily Girya, the owner and CEO of GIS Mining, told Izvestia about this on December 1.

"The recovery took place against the background of sharply changed expectations for Fed rates and the influx of funds into bitcoin ETFs, but the internal stability of the market did not have time to strengthen: open interest remained low, and major players showed restraint," he said.

The expert added that already in the first hours of December, this delicate balance was disrupted — a gradual but steady rollback began, aggravated by problems in the DeFi segment and increased risks in the infrastructure, including incidents at Yearn Finance.

The market was under pressure again: more than $570 million in long positions were liquidated in a matter of hours, spreads widened, and futures on crypto assets and stocks simultaneously went into risk-off mode.

Cryptoshock: what is behind the collapse of Bitcoin and the crisis of trust

The fall in the value of the first cryptocurrency caused panic in the market

The current price of about $86,641 reflects the state of uncertainty — neither sellers nor buyers are ready to take the initiative yet. The $85,000-86,000 zone can serve as a temporary base for regrouping, but overcoming resistance around $90,000 is crucial for resuming the upward momentum. Without this, the coming days, up to the Fed meeting on December 10-11, may be in a sideways range with increased volatility and the risk of further drawdowns.

Monetary policy expectations are still tilted towards easing, but the market requires not only a favorable macro environment, but also confidence in the stability of participants and infrastructure.

"Retail investors and margin traders have once again suffered from sharp corrections, reminding that in the current phase of the cycle, those who act with a margin of safety and liquidity have the advantage," the expert shared.

If December employment or inflation data turn out to be stronger than expected, or Fed Chairman Powell re-intensifies his rhetoric, Girya pointed out, then the fall potential expands towards $80,600, and then $77,000. Now it all depends on whether buyers will be able to quickly regain control of the situation or the market will continue to drift under the weight of uncertainty.

Despite a difficult November, the Russian industrial digital currency mining market continues to attract large institutional participants in the financial and investment market, as well as vertically integrated industrial groups. According to the results of the autumn business season, the volume of orders for mining services and the purchase of advanced computing equipment in the Russian jurisdiction increased by 28% compared to the summer.

"The interpenetration of the fiat and cryptocurrency markets continues in the markets. Russian banks and investment companies are increasingly involved in the formation of credit and investment products for mining," the expert concluded.

Prior to that, on November 14, it was reported that the bitcoin exchange rate had fallen by more than $95,000, dropping to its lowest levels since early May. As of 15:41 Moscow time, the price of bitcoin fell by 7.97% and reached the level of $ 94,863. A few minutes later, by 15:45 Moscow time, bitcoin was trading at around $94,900.

All important news is on the Izvestia channel in the MAX messenger.