As reported by CoinPaper, Bitcoin opened December by tagging resistance and then falling, with on-chain data showing heavy realized losses and a large gap from liquidity-based value. Trader Rand noted that Bitcoin’s capitulation metric has surged to its highest level of this cycle, mirroring conditions before past market reversals. Meanwhile, trader Michaël van de Poppe highlighted a liquidity-based model pointing to a fair value of around $165,000, far above the current price of $90,000. Trader Jelle added that Bitcoin was rejected at its first major resistance zone, with the price slipping lower after hitting a monthly high in the opening minute of December.
Bitcoin Faces Cycle-High Selling Pressure Amid Capitulation Metric Spike and $165K Fair Value Gap
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