Bitcoin price drops 1% as 400,000 BTC leaves exchanges

Bitcoin price edged down more than 1% in the past 24 hours to trade at $90,421 as of 2:42 a.m. EST on trading volume that increased 10% to $45.1 billion.

This drop in BTC price comes as data from Santiment shows that more than 403,000 Bitcoins have left exchanges since December 7, 2024, representing approximately 2% of the total crypto supply. Santiment said this was a positive sign for the market.

📊 As Bitcoin’s market value hovers around $90,000, the top crypto market cap continues to see its supply move away from exchanges. Over the past year, there have been:

📉 A net total of -403.2K $BTC exit exchanges
📉 A net reduction of -2.09% in $BTCthe entire offer is changing… pic.twitter.com/Y0JTC880Np

–Santiment (@santimentfeed) December 8, 2025

This move represents a fundamental shift from short-term trading to long-term holding. When BTC is on the stock market, it is often considered for sale. Its removal therefore suggests that investors are opting for self-preservation.

“As Bitcoin’s market value hovers around $90,000, the top crypto market cap continues to see its supply move away from exchanges,” Santiment said.

With much of the Bitcoin on exchanges returning to hodler wallets, the king of crypto recently posted one of its weakest November performances since 2018, according to Presto Research.

📊 Data focus 📊
The worst November for BTC since 2018
Crypto Flows Report: November 2025
by @scopicview

Full report here: pic.twitter.com/2lXS5v9tuI

– Presto Research (@Presto_Research) December 9, 2025

BTC has seen monthly declines of around 20-25%. So far, Bitcoin price has attempted to rally above the $90,000 zone but was rejected right around the $94,000 level. Can the price soar again?

Bitcoin Price Trades Above Key Support Levels, Poised for a Rally

THE BTC Price surged in 2025, reaching an all-time high of around $125,761 in October, according to the Binance BTC/USD chart.

However, sellers started taking profits after this significant move, leading Bitcoin price to form a round-top downtrend. This led BTC price to break through key support levels on the Fibonacci retracement chart.

So far, Bitcoin price is trading well above the .786 Fib level at $85,270, but below the .618 Fib level at $93,897, as bulls price in for a recovery.

BTC is still trading above the 200 simple moving average (SMA) on the 3-day chart, suggesting that the bulls could regain full control of the asset. However, the 50 SMA constitutes the next potential long-term resistance area around $109,137.

Meanwhile, the Relative Strength Index (RSI) appears to be recovering from the oversold zone of 30 to its current level of 35, suggesting that buyers may be regaining control.

BTC Price Prediction

According to the BTC/USD 3-day time frame chart analysis, BTC is just above the 200 SMA ($88,821), which serves as immediate support.

If buyers defend this level, a rebound towards the 0.618 Fibonacci zone near $94,000-$100,000 is possible, with a stronger bullish extension targeting the 50 SMA around $109,000.

A decisive break above this region could reopen the path to the previous high near $125,000.

However, if Bitcoin price falls below the 200 SMA and fails to regain the 0.786 Fib level ($85,200), the downward pressure could intensify. In this scenario, the price could return to the lower Fibonacci boundary near $74,000, where a wider demand zone lies.

According to X analyst Ali Martinez, BTC could form a bearish flag, placing the possibility of the crypto price falling into the $70,000 support zone.

Bitcoin $BTC: If this is a bear flag, the target is $70,000. pic.twitter.com/wI72dGQP6P

– Ali (@ali_charts) December 9, 2025

Overall, the next major move depends on whether BTC price can hold above the 200 SMA on the 3-day chart and regain momentum towards the middle Fibonacci cluster.

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