Bitcoin rose 1.06% to above $91,000 on Dec. 5 following the release of U.S. core PCE price index data, BlockBeats reports. The core PCE annual rate unexpectedly fell to 2.8%, a three-month low. The cryptocurrency's gain came shortly after the data release.

Coinglass data show cumulative long position liquidations across major centralized exchanges could reach $617 million if Bitcoin falls below $88,000, reported on Dec. 5. Short position liquidations may total $455 million if Bitcoin rises above $92,000. The liquidation heatmap represents relative intensity between liquidation clusters rather than exact contract volumes, indicating market impact magnitude as price reaches specific levels.

Bitcoin briefly dropped below $90,000 on Dec. 5, down 2.66% in 24 hours, HTX data show. The decline marked a notable intraday retreat for the leading cryptocurrency.

JPMorgan continues to project a theoretical Bitcoin price of approximately $170,000 within 6 to 12 months under its volatility-adjusted Bitcoin versus gold model, according to a Wednesday report. The bank noted that Strategy remains a key driver for Bitcoin markets, with its enterprise value to Bitcoin holdings ratio (mNAV) currently at 1.13; a drop below 1.0 would signal potential forced selling risks, though the current level provides reassurance with $1.4 billion in reserve capital serving as a buffer. The analysts highlighted MSCI's January 15 index decision as an asymmetric catalyst, noting most downside from potential exclusion was reflected in the decline since October 10, while a favorable outcome could trigger sharp gains. Bitcoin has declined from its all-time high above $120,000 to lows near $82,000 in recent weeks, prompting JPMorgan to lower its production cost estimate from $94,000 to $90,000 due to reduced hashrate and mining difficulty.

National Bank of Canada, with $398 billion in assets, acquired 1.47 million shares of Bitcoin treasury company Strategy (MSTR) valued at approximately $273 million, BTCtreasuries disclosed on Dec. 5. The purchase marks a significant institutional investment in the Bitcoin-focused firm.

BlackRock's IBIT recorded a net outflow of $275.6 million over two weeks ending Dec. 5, Farside data show. The fund saw its largest single-day outflow of $149.1 million on Nov. 24, while the biggest inflow reached $120.1 million on Dec. 2.

A BlackRock-linked address transferred 1,385 BTC worth $126.3 million and 799 ETH worth $2.5 million to Coinbase on December 5, on-chain data show. The deposits were executed as separate transactions. OnchainLens tracked the movements from the address associated with the asset manager.

Bitcoin has entered a structural correction phase with a maximum drawdown of 32% from its all-time high, CryptoQuant analyst @AxelAdlerJr said on Dec. 5. The correction places the market in a middle zone between deep pullback and bottom formation, similar to a year-long phase seen in the previous cycle. Signal combinations show patterns historically observed during bear markets, and without improvement in macroeconomic and on-chain indicators, the risk of further decline remains elevated, requiring time for recovery and a shift in the network's profit-loss structure.

SpaceX transferred 1,083 BTC valued at $99.81 million on Dec. 5, marking its second transfer in seven days, on-chain analyst Ai Yi reports. The transfer allocated 800 BTC ($73.71 million) to address bc1qy…xv5g9, which has not yet moved the funds. Tokens transferred to another address a week prior also remain unmoved.