Bitfarms Ltd. (BITF) shares fell 9.48% to $3.15 in premarket trading on November 29, 2025, as Bitcoin dropped over 4% to below $86,680. The decline came as China's central bank warned against cryptocurrency speculation and pledged to intensify its crackdown on illegal activities involving virtual currencies and stablecoins. The regulatory pressure compounds challenges for crypto mining operations already facing profitability constraints from falling Bitcoin prices.

Bitcoin dropped below $86,000 on December 1, extending November's 17% decline—the largest monthly loss for the asset in 2025 and its worst November since 2018. The selloff erased a week of gains within hours, wiping more than $144 billion from total crypto market capitalization. Long position holders absorbed losses exceeding $535 million as thin weekend liquidity and cascading liquidations amplified volatility.

Bitcoin fell 6% intraday to $85,653 on December 1, 2025, while the broader cryptocurrency market capitalization declined more than 5% to $2.92 trillion. The Coinbase Bitcoin Premium Index moved into negative territory, reflecting reduced buying pressure from U.S. investors compared to offshore exchanges.

Bitcoin fell below $90,000 on December 1, 2025, declining 5% to $86,627 amid broad risk-off sentiment. November marked the cryptocurrency's largest monthly loss since May 2021, with prices dropping over $18,000 during the period. The selloff triggered liquidations exceeding $637 million as investors exited risk positions across markets.

Bitcoin dropped nearly 5% to below $87,000 during early Asian trading on December 1, erasing approximately $150 billion from total crypto market capitalization. The decline was driven by surging Japanese government bond yields, which triggered broad risk-off sentiment amid exceptionally thin trading volumes. The 10-year Japanese government bond yield climbed to 1.84%, its highest level since April 2008, leading markets to price in a potential Bank of Japan rate hike in mid-December.

Bitcoin dropped over 5% in 24 hours to fall below $86,000 on December 1, 2025, briefly touching $85,000 before recovering slightly. The selloff was triggered by Bank of Japan Governor Kazuo Ueda's comments on potential interest rate hikes and a security breach at Yearn Finance protocol. The decline erased approximately $140 billion from total cryptocurrency market capitalization, with leveraged position liquidations reaching $500 million, data show.

Bitcoin faces rejection between $91,000 and $93,000 after bouncing from $80,000–$83,000 support. Data show heavy supply near $96,000–$97,000, where short-term and medium-term holder cost bases converge. Technical indicators point to a sell bias unless BTC breaks above the declining trendline and clears $97,000.

Crypto analyst Colin Talks Crypto estimates a 20% probability that Bitcoin will advance directly to new all-time highs from current levels. His primary outlook projects a rally toward $100,000–$115,000, followed by a multi-month correction before the cycle's next major phase. Multiple analysts note that current market conditions lack typical signals associated with cycle peaks.