Bitcoin Nears $92,000 Amid Mixed Market Signals and Industry Developments
Bitcoin rose to nearly $92,000, marking an increase of about 3% in the last 24 hours. Alongside this, the CoinDesk 20 and CoinDesk 80 indexes also climbed roughly 3.5%. Despite these gains, the CoinDesk Bitcoin Trend Index indicates a strong downtrend, while the Ether trend turned bearish after moving negative in mid-November.
Market watchers consider the recent rate-cut as largely priced in, with attention focused on Federal Reserve Chair Jerome Powell's forward guidance and the possibility of further cuts in 2026. The 10-year U.S. Treasury yield rose to approximately 4.151%.
Despite the positive price movement, U.S.-listed spot Bitcoin ETFs experienced net outflows of $87.77 million last week, and spot Ether ETFs saw outflows of $65.59 million. However, large wallets are accumulating assets, and the exchange supply remains historically low amid macroeconomic sensitivities.
Looking ahead, token unlocks amounting to more than $5 million each are scheduled within the next seven days for projects including CONX, APT, STRK, CHEEL, LINEA, and BB, which could introduce volatility into the market.
In industry news, the EstateX (ESX) platform has launched for Unicorn Club members, featuring its first property listed for sale. Binance secured full Abu Dhabi Global Market (ADGM) approval to operate exchange, clearing, and brokerage services, necessitating three locally incorporated entities.
Meanwhile, Robinhood plans to enter the Indonesian market through the acquisition of two licensed firms, and Coinbase has reopened signups in India, targeting fiat on-ramp services in 2026 following registration with the Financial Intelligence Unit (FIU).
