Bitcoin Back to $90K: Volatility, Accumulation & What’s Next in December
ETFs, corporates, and states keep buying the dip as smart-money flows point toward a bullish 2026
November delivered more volatility to the downside than expected. Bitcoin opened the month above $100,000, sold off with the brief equities profit taking, and briefly touched as low as $80,000 before recovering toward $90,000 now. What is interesting is that Bitcoin now sits close to the same price it held a year ago during the Trump election period, despite moving from $76,000 to $126,000, then back to $80,000 and now $90,000 this year. What a year it has been (and it’s not over yet)!
For long-term investors, 2025 has been an accumulation year, and institutional behavior reflects that. ETFs and major custodians have steadily increased their Bitcoin exposure, signaling strong conviction in the long-term trajectory. Institutions typically accumulate only when they expect higher highs to come, and for anyone thinking in multi-year horizons, Bitcoin under six figures still looks like opportunity rather than risk.
This institutional trend is not happening in isolation. Public companies have also continued adding to their Bitcoin treasuries, strengthening the long-term supply squeeze and confirming broader corporate adoption.
Heading into December, the macro backdrop remains supportive. Stocks continue to rally, more Federal Reserve rate cuts are likely, and Texas just became the first U.S. state to purchase Bitcoin for a state reserve. If federal-level Bitcoin purchases follow in 2026, the psychological impact could be significant.
As Bitcoin approaches $100,000 again, I’ll continue covering market developments and interviewing the teams shaping the next cycle: Web3 infrastructure, DePIN, decentralized AI, privacy for digital assets, and intent-based/ DeFi (DeFAI). After more than a decade in this space, one lesson holds: volatility in both directions is the price of admission for long-term asymmetric upside. Let’s dive into this month’s top interviews with Web3 Founders and genius minds.
The Rise of DePIN: Powering XYO’s New Layer 1 Network
Firstly we spoke with XYO, a top DePIN network who recently launched their “XYO Layer 1 Network” and new network token XL1. The DePIN industry is poised to become a $3.5 trillion market in the near future. They have been one of the OGs of DePIN, and the launch of the XYO Layer 1 network at the start of Q4 came alongside the release of their governance $XL1 token. I spoke with co-founder Markus Levin about the importance of gathering data through decentralized physical networks, and how everyday people like you and I can contribute and earn from our contributions.
Well worth watching this one!
Why Decentralized, Private AI Is Becoming Essential
Decentralized AI is becoming a major focus as artificial intelligence grows more powerful and integrated into our daily lives. More people are seeking open-source, decentralized, and privacy-preserving AI systems where your inputs aren’t monitored, stored, or controlled by opaque third parties. To learn more on this, I interviewed longtime crypto OG David Johnston, a friend from the early 2014 era, who is now leading Morpheus, a decentralized open-source AI network that has already processed hundreds of thousands of ETH through its smart contracts.
If you’re interested in private AI, decentralized compute, or staking your ETH for rewards, this is definitely a conversation worth tuning into.
A Privacy-Safe Future for Readable Crypto Addresses
Sharing Ethereum and crypto addresses has always been messy. Hexadecimal strings are confusing, and while services like ENS or Unstoppable Domains offer readable names, they introduce a bigger issue: no privacy. Once someone has your named address, they can see your full balance and entire transaction history.
I spoke with Mehow, CEO of American Fortress, whose team has built a privacy-first readable address system that finally solves this problem. You can share a human-readable address without exposing your whole account. It’s a real step forward for crypto usability and privacy, and they’ve already partnered with Litecoin with more chains on the way.
If you’re interested in crypto privacy and the future of readable addresses, this interview is worth a watch.
Why Agentic Finance Is the Next Big Shift in Web3
AI agents are quickly becoming part of everyday life. Soon handling everything from driving our cars to managing our crypto portfolios. That’s the idea behind Kuvi AI, a new platform built around Agentic Finance (or Intent-Based DeFi), where you simply set your intent and an AI agent executes the strategy for you.
I spoke with Dylan Dewdney, a crypto OG from the early 2010s and founder of KUVI.AI. While their token launch was delayed due to market conditions, the beta platform is working, showcasing how AI-driven trading and autonomous portfolio management will shape the future of DeFi. If you’re curious about AI-powered finance, this one’s worth watching.
Market Analysis:
Bitcoin 3-Hour Chart: End-of-November Momentum Shift
Bitcoin opened November trading above $100,000, but a sharp pullback in global equities triggered an even stronger correction in crypto, dragging BTC down to a monthly low near $80,000. At the peak of the decline, Bitcoin’s Fear & Greed Index fell to 11, its lowest reading since the FTX collapse in 2022… signaling extreme fear and forced capitulation. By the final week of November, however, Bitcoin staged a notable recovery back above $90,000, with fear/greed sentiment improving to 28/100. Many traders were anticipating a strong Q4, and despite turbulence, the market still appears positioned for a potential December rally, supported by seasonal “Santa Rally” dynamics, continued equity strength, and the possibility of another Federal Reserve rate cut, historically bullish especially for hard assets like Bitcoin.
From a technical standpoint, shorter time frames on this 3-hour chart above show bullish momentum returning (AI Buy Signal), though Bitcoin has not yet flashed a renewed buy signal on the 1-day or 1-week time frames, with “smart money” still out of the trade. The RSI has normalized from oversold conditions following the mid-November dip and is now neutral, indicating room for momentum to rebuild. A moderate December beginning would likely see Bitcoin break above $93,000, with targets in the $95,000–$96,000 range by mid December. In a more aggressive scenario with renewed market fuel, BTC could retest $100,000 by mid-December and potentially close the year in the triple digits. A more conservative path would involve a brief revisit of $88,000–$89,000 before establishing firmer support near $93,000 and pushing toward $96,000–$97,000 to close out the year. Re-engagement from smart money on higher time frames would set the stage for Bitcoin to build toward new all-time highs in 2026.
Ethereum 3-Hour Chart: Short-Term Setup Into End of November
Ethereum is showing a very similar recovery pattern to Bitcoin’s. After dipping to around $2,600 during the third-week November sell-off, ETH has now climbed back to the key psychological level of $3,000, which is an ideal zone for building a new support floor. Like Bitcoin, however, the 1-day and 1-week signals are still not showing smart-money re-entry, meaning higher-timeframe investors remain cautious. Short-term resistance sits in the $3,200–$3,300 range; a clean breakout above this zone would likely flip the longer-term charts back to bullish… Potentially by the mid-December depending on market momentum. Encouragingly, the ETH/BTC ratio is holding support and looks ready to break upward, suggesting Ethereum may lead the market ahead of Bitcoin and open the door for stronger altcoin performance. Speaking of altcoins, let’s dive into them briefly below.
Altcoins: Holding Steady & Preparing for Rotation
Altcoins saw a pullback during the Bitcoin–Ethereum dip in mid-November, but notably, they did not crash as aggressively as they typically do during major market corrections. Part of this is because much of the altcoin market has already been bottomed out for most of 2025, leaving less downside pressure during this recent sell-off. A few standout narratives remain strong—most notably privacy, with Zcash ($ZEC) and ZK-focused projects continuing to gain traction. Traders are also watching the usual large-cap rotation candidates: Solana, Dogecoin, XRP, Chainlink, and Avalanche, all of which could benefit if Ethereum continues to strengthen against Bitcoin in early December. The introduction of ETFs now live and trading for Solana, XRP and DOGE is something to take note of, and Avalanche and Chainlink should follow in 2026. With the institutional backing behind these and ETF products in place, it’s hard to see these platforms going away anytime soon.
Other Crypto News:
Sonic Labs names Mitchell Demeter as new CEO - tasking him with accelerating institutional expansion, developer adoption, and bridging into U.S. capital markets
Tether seeks $20B raise at $500B valuation - positioning as most valuable private company alongside OpenAI
Stock market in fear despite 7-week rally - investors positioning for Santa Claus rally (sustained December upside) ahead of expected Fed rate cut; caution persists despite positive momentum
Nvidia CEO Jensen Huang - warns entire tech sector (QQQ) and crypto hinge on Nvidia’s success; sector-wide risk if Nvidia stumbles
Trump admin considering selling Nvidia H200 chips to China - potential impact on Nvidia stock and broader tech
X launches country of origin labels - exposes political accounts posing as Americans from emerging markets; community torn on anonymity vs. transparency trade-off
US & UK form joint crypto regulation task force - exploring cooperation on regulatory frameworks
Trump: $2,000 tariff dividend by mid-2026 - direct payments to Americans
White House Advisor Hassett: Fed rate cut likely in December - markets pricing in probability
Trump admin reviewing IRS access to Americans’ foreign crypto accounts - potential tax implications
El Salvador buys $100M Bitcoin - ongoing sovereign accumulation right on the dip.
Thanks for reading this edition. Expect one final newsletter recapping 2025, and sharing predictions for 2026.
Thanks for reading!
-Ashton Addison, CEO of Crypto Coin Show