Bitcoin's one-week put-call premium dropped to approximately 4.5% from 11%, signaling reduced panic buying of downside protection, BiyaPay analysts said. BTC rebounded to around $88,000 from a seven-month low. Analysts note RSI and implied volatility are in oversold recovery zones, suggesting potential stabilization in the $80,000–$85,000 range, though upside remains constrained by macro uncertainties ahead of the Federal Reserve's December meeting.

Bitcoin's CBD Quantiles curve shows significant chip redistribution underway, on-chain analyst Murphy said on November 26. When BTC dropped below $100,000, high-position chips at the 75th percentile rapidly moved downward while low-position chips at the 65th percentile simultaneously moved upward, indicating a market shakeout with higher-cost holders absorbed by lower-cost capital. The current BTC price holds support at the purple line—representing the cost basis below which 65% of addresses hold BTC—with 65% of on-chain addresses remaining profitable, though this includes some long-term inactive or frozen addresses such as Satoshi's holdings. In the previous cycle, Bitcoin entered a prolonged downtrend after the 65th percentile support was breached, with new capital forced into lower percentiles as prices declined.

JPMorgan filed a structured note linked to BlackRock's spot Bitcoin ETF (IBIT) with regulators on Nov. 26, BlockBeats reports. The note offers a 16% guaranteed return if IBIT reaches its target price by end-2026, with automatic redemption. If IBIT falls short by 2026, the note extends to end-2028, offering uncapped returns of 1.5x or more on the original investment should IBIT exceed the target price. Downside protection allows full principal recovery if IBIT's 2028 decline stays below 30%; losses beyond that threshold are proportional. JPMorgan warned that extreme downturns could result in losses exceeding 40% or total principal loss.

Bitcoin is approaching a critical $103,500 threshold that will determine its next directional move, Delphi market analysts said on Nov. 26. A bullish scenario requires the current pullback to complete an ABC correction and break above $103,500, while a bearish case would see the rally form a lower high below that level, triggering a five-wave impulse decline before a larger rebound. Stablecoin metrics complicate the outlook: USDT dominance is breaking a long-term downtrend as its supply contracts on weekly timeframes, conditions that typically do not support sustained rallies.

Strategy transferred 58,390 bitcoin worth $5.1 billion to Fidelity Custody over the past two months to diversify custodial arrangements beyond Coinbase, Arkham data show. Fidelity Custody operates an omnibus account system where client assets are commingled, causing some of Strategy's holdings to appear under Fidelity's entity on Arkham's platform. Arkham tracks approximately 92% of Strategy's total bitcoin holdings of 641,692 BTC worth $56.14 billion, with 165,709 BTC valued at $14.5 billion now held at Fidelity.

Bitcoin's immediate resistance sits at the 200-hour simple moving average near $88,000, which has capped upside moves since Monday, Coindesk analyst Omkar Godbole said on Nov. 26. Further resistance is identified in the $98,000–$99,000 range, an area that formed intraday lows multiple times earlier this month and in June. The most critical support level is around $83,680, where the 100-week SMA intersects with a macro bullish trendline; a break below this level would signal heightened risk and confirm a recent bearish shift, potentially triggering deeper declines. The next downside support is located near $74,500, where selling pressure eased in early April, paving the way for a subsequent price rebound.

Companies holding Bitcoin in corporate treasuries are liquidating positions as share prices decline, the Financial Times reported on Nov. 26. Strategy, led by Michael Saylor and the world's largest corporate Bitcoin holder, has seen its stock fall 50% over three months, with its market capitalization now trading below the value of its Bitcoin holdings. Adam Morgan McCarthy, senior research analyst at crypto data firm Kaiko, warned that "these companies will see a wave of selling, and it will only get worse—it's a vicious cycle where once prices start falling, it becomes a race to the bottom."

Bitcoin exchange-traded funds recorded net inflows of $128.7 million on Nov. 25, Farside Investors data show. Ethereum ETFs attracted $78.6 million in net inflows during the same trading session.

Machi Big Brother opened a new Bitcoin long position of 9 BTC ($788,000) at $87,895.5 on Nov. 26, on-chain analyst Ai Yi (@ai_9684xtpa) reports. The trader now holds three long positions valued at $18.63 million with $537,000 in unrealized profit: 4,750 ETH ($14.07 million) at $2,886.4, 110,000 HYPE ($3.77 million) at $32.71, and 9 BTC ($790,000).