Bitcoin Shows Deep Oversold Signals, Potential Bottom Formation at $84K-$90K

Bitcoin has entered a deep oversold and high-stress state, with mid-$80K level acting as key support for potential price stabilization if selling eases, Glassnode said in its Nov. 25 weekly report. Spot market activity remains subdued with weak volumes and persistent ETF outflows, signaling a shift from aggressive selling to orderly de-risking. On-chain metrics show slowed transfer volumes, fee revenues, and realized capital changes, while options markets maintain a defensive posture with elevated skew and narrowing volatility spreads. The combination of decelerating outflows, stabilizing momentum, and limited speculative leverage buildup suggests the market may be forming an early bottom structure within the $84K to $90K range, despite continued pressure on profitability indicators.