FX168 Financial News (Asia-Pacific) reported that on Tuesday (November 25), during the Asian trading session, Bitcoin stabilized near $88,000 as market sentiment improved due to heightened expectations of a Federal Reserve rate cut in December. Ethereum also followed Bitcoin's rebound to around $2,945, driven by solid risk appetite in Asia.
According to CoinDesk data, Bitcoin rebounded from a low of nearly $82,000 last week and is currently stabilizing around $88,000, as expectations for a rate cut increase and selling pressure eases in early Asian trading.
<img src="https://imageproxy.pbkrs.com/https://static.fx168api.com/img/user/738c728bd13ac655b891101d5dc94a9c/outside1764048160280?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://static.fx168api.com/img/user/738c728bd13ac655b891101d5dc94a9c/outside1764048160280"/>
(Source: CoinDesk)
Meanwhile, Ethereum is reported at about $2,945, as traders reassess easing expectations, and the market enters a consolidation phase after significant volatility over the weekend.
<img src="https://imageproxy.pbkrs.com/https://static.fx168api.com/img/user/738c728bd13ac655b891101d5dc94a9c/outside1764048205886?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://static.fx168api.com/img/user/738c728bd13ac655b891101d5dc94a9c/outside1764048205886"/>
(Source: CoinDesk)
Glassnode's latest report on Monday indicated that selling momentum is weakening—although the market remains in an oversold zone, early signs of &#34;selling pressure exhaustion&#34; have emerged.
Interest Rate Expectations Drive Market Stabilization
Polymarket's betting probabilities clearly shifted over the weekend to support a rate cut in December, helping the crypto market stabilize after Bitcoin (BTC) experienced significant volatility, testing $82,000 at one point.
QCP Capital noted that positions reflect a shift in market sentiment. Traders are still engaging in two-way hedging, with downside protection remaining, but at key strike prices (such as 85k, 120k, 140k), the open interest for year-end call options has surpassed that of put options. The funding rates on major perpetual contract platforms have turned negative, indicating that long leverage has been squeezed out, making it less likely for the market to experience forced liquidations again. However, volatility remains high
Glassnode's on-chain data also indicates that the market is in a structural &#34;reset&#34; phase: momentum indicators show oversold conditions; the supply from short-term holders is increasing, which is common in the tail end of adjustments; the cumulative trading volume of perpetual contracts remains negative, indicating that recent pressure mainly comes from aggressive selling in the futures market.
Nevertheless, Glassnode believes that the current market situation resembles a controllable pullback driven by deleveraging rather than chaotic liquidation, and signs of stabilization are beginning to appear within the current range.
Glassnode analysts point out that: the open interest is stabilizing, spot trading activity remains relatively weak, and ETF outflows continue. These factors collectively suggest a shift in the market from &#34;aggressive selling&#34; to a &#34;more orderly deleveraging/risk-off phase.&#34;
Previously, when Bitcoin retraced to $80,000, investors bought a large number of put options as downside protection. Now, sentiment has shifted from pessimistic to cautiously optimistic, reflected in the strong rebound of the key indicator 25-Delta Skew: rising sharply from -10.96 to -4.58. Generally speaking: a falling Skew → investors buy a large number of put options (more pessimistic); a rising Skew → demand for downside hedging decreases (pessimistic sentiment eases).
Bitcoin Begins to Stabilize
Despite the recent warming, Bitcoin has still recorded a fourth consecutive week of decline, marking the longest losing streak since June 2024. Its performance in the fourth quarter is also heading towards the worst since 2018, currently down 24.43%.
Sean Dawson, head of options research at Derive, told Decrypt: &#34;I expect it to fluctuate until Christmas.&#34;
However, on-chain indicators show that despite price pressure, underlying demand remains.
Laevitas stated on X on Monday that the trading volume of call options at the following strike prices has significantly increased: $100,000; $112,000; $116,000; $118,000.
Additionally, a large number of long call condor block trades have occurred in the past 24 hours, indicating that investors are positioning for a rally later in 2025.
Buying a long call condor is a strategy that involves purchasing four call options with the same expiration date, suitable for scenarios where prices are expected to fluctuate within a certain range.
Ryan Yoon, a senior analyst at Seoul Tiger Research, told Decrypt: &#34;For further upside, Bitcoin must reclaim the $87,000 to $88,000 range. If it stays below this, it is merely a relief rally with limited upside potential, as many investors are still in a trapped position.&#34;
Bitwise CIO Matt Hougan wrote on X on Monday after a call with a &#34;consulting firm managing $50 billion&#34;: &#34;Institutions remain patiently bullish and are continuously gaining confidence.&#34;
The Next Driving Factors Are Coming
As the market oscillates in a fragile balance, the upcoming U.S. macroeconomic data and the Federal Reserve's interest rate decision in December will become key determinants for Bitcoin's next move.
When the U.S. market reopens, interest rate expectations will once again be tested by the data.
If the market continues to lean towards betting on a rate cut in December, both QCP and Glassnode believe that BTC is likely to stabilize within the current range. As positions return to normal and the previous deleveraging effect gradually fades, volatility may tend to ease

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On Tuesday (November 25), during the Asian trading session, Bitcoin stabilized near $88,000 as market expectations for a Federal Reserve rate cut in December strengthened, leading to improved sentiment. Ethereum also rebounded to around $2,945. According to CoinDesk data, Bitcoin has rebounded from last week's low and is currently stabilizing around $88,000. A report from Glassnode indicates that selling momentum has weakened, showing signs of "selling pressure exhaustion" in the market. Polymarket betting on a December rate cut has helped stabilize the crypto market. QCP Capital noted that the market sentiment has shifted, and volatility remains high

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The Federal Reserve's direction suddenly shifts! Bitcoin stabilizes close to 88,000, with signs of "selling pressure exhausting" emerging