As of today, November 28, 2025, the overall picture indicates not a complete stabilization but rather a short-term consolidation or technical rebound after the recent decline.
Here are the key factors and news behind the current situation, as well as an analysis of their impact:
1. 📉 Technical rebound and consolidation after the correction
The market experienced a significant drop in November when Bitcoin fell from levels above $120,000 to the range of $87,000 – $90,000 (even dropping to $85,000).
Factor: Such a sharp and deep correction (around 20-30% from the peak) naturally leads to a consolidation phase or a technical rebound.
Analysis: The current recovery of Bitcoin above $91,000 (in the last 24 hours) indicates that sellers are temporarily exhausted, and buyers who consider the current prices as the "bottom" of the correction have started to buy the asset. This is market dynamics, not fundamental news.
2. 💸 Deleveraging
During the downturn, a "shoulder reset" was observed in the futures and DeFi lending markets.
Factor: Significant reduction in loan volumes, particularly related to Ethereum (loans in WETH and LST have decreased by approximately 35–40%).
Analysis: This reduction indicates that high-risk cyclical credit strategies have been liquidated or closed. The reduction of systemic risk through cleansing from excessive leverage is a favorable factor for long-term stability. The market is becoming "cleaner," although liquidity remains low.
3. 🏦 Institutional appetite and Citigroup's forecast
Although there were outflows from ETFs (see below), some institutional forecasts may provide psychological support.
News: Citigroup analysts predicted that in the first quarter of 2026, the price of Bitcoin could remain within the range of $82,000–90,000 without sharp volatility.
Analysis: Such a forecast essentially defines a stability range for investors. When a large bank sets such a "corridor," it can reduce panic and establish a price minimum in the eyes of institutional players, aiding consolidation.
⚠️ Factors still creating pressure (Important for stabilization analysis)
True stabilization is hindered by the following factors that need to be considered:
Significant Outflow from Bitcoin ETFs: In November, there were significant outflows from spot Bitcoin ETFs in the U.S. This is direct selling pressure on the underlying asset and a primary reason for the recent decline.
Overall Profit Taking: The correction followed several months of growth. Investors are locking in profits after reaching peak levels, which is healthy but causes volatility.
Macroeconomic Factors: The rise in gold positions as a safe-haven asset and the revision of expectations regarding Fed rates (decreased appetite for risk assets) continue to put pressure on crypto.
📝 Conclusion
The current "stabilization" of the crypto market on November 28, 2025, is predominantly a technical pause (consolidation) following a sharp collapse. It is supported by the following factors:
Searching for the "Bottom": Traders are buying the dips, forming a support level in the range of $87,000 – $90,000 for BTC.
Risk Reduction: The market has become less "overheated" due to reduced leverage.
Institutional Forecasts: Predictions from major banks (e.g., Citigroup) can help define a temporary trading range.
The market remains fragile due to low liquidity and ongoing outflows from ETFs, so the current phase is better described as consolidation rather than full stabilization or the beginning of a new rise.
