In the last couple of days, the crypto space has been just going through the motions. SpaceX moved 1,083 Bitcoin (BTC), roughly $100 million, to new wallets. At the time,
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Bitcoin
0.29%
Bitcoin
BTC
Price
$91,401.24
0.29% /24h
Volume in 24h
$24.53B
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Price 7d
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had dropped to $88k, from which it has only slightly recovered, trading at
today.
For now, it looks like SpaceX has just shuffled its BTC around for custody reasons and does not plan to sell them.
SpaceX(@SpaceX) transferred out another 1,083 #BTC($99.81M) ~30 mins ago, possibly to Coinbase Prime for custody.https://t.co/zW62EKM2RD pic.twitter.com/MxgPpAFz8v
— Lookonchain (@lookonchain) December 5, 2025
However, BTC did fall around the time, just before the PCE inflation data and the big options expiry. As of right now, BTC is trading 0.15% on the 24-hour charts and is down by 2% on the weekly chart.
Looking at the daily chart, it looks like BTC is finally breaking out of the long red downtrend channel, hinting that the worst of the sell-off might be over. As of right now, BTC is consolidating just below $90,000, the support turned resistance zone.
(Source: TradingView)
Till the bulls can help its price action convincingly close above the $90,000 level, sellers will still be in the play to apply some short-term pressure. If BTC manages to breach $90,000, the next level to breach sits at $94,600.Clearing that would confirm BTC’s bullish momentum and open the door to higher targets.
Bitcoin’s fair value is at $150,000 now.
The gap between price and Global Liquidity is massive. pic.twitter.com/RWrAJanvHu
— Rekt Fencer (@rektfencer) December 2, 2025
From there on, upside zones around $108,000 and even $116,000, line up with past liquidity pockets.
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Crypto Update: Markets Brace For An Almost Certain Fed Rate Cut
The FOMC (Federal Open Market Committee) meeting on December 9-10 is looming in close, and traders are almost fully convinced that the Fed (Federal Reserve) will keep things dovish.
On Polymarket, as of now, the odds of a 25 basis point rate cut are sitting at 92%, flipping market sentiments when it comes to BTC. Earlier talks of a breakdown are now replaced by the hopes of the crypto gold staging a comeback.
Traders are expecting the Fed Chair, Jerome Powell, to push through another quarter-point cut this week. At the same time, not all Fed officials are happy about their current predicament.
The Fed has made back-to-back cuts, with the last one in October after weak summer job data, sparking resistance from hawkish members, with five voting officials openly signalling that they will not be backing any more rate cuts in December.
However, the momentum shifted on 21 November when New York Fed President John Williams said conditions justified a reduction in the “near term.” Since then, markets have leaned hard into the idea of another cut.
Meanwhile, Bitcoin liveliness, a metric that has coincided with BTC bull phases, is climbing again.
Liveliness has been range bound since the 2017 peak, up until now.
The 2017 Bull was special in that it was the first epic parabola with widespread participation, but was also when many old coins transacted to capture the BCH dividend.
New Liveliness ATHs shows how extreme the… https://t.co/aoVFr2jOsR
— _Checkmate
(@_Checkmatey_) December 6, 2025
Analyst Michaël van de Poppe is leaning bullish, though he expects some turbulence first. He’s calling for pre‑FOMC selling pressure today and Monday, with prices possibly dipping to $87,000 to sweep liquidity before setting up for a stronger rally.
This would be my bullish scenario.
Pre-FOMC and on Monday, correction to sweep the lows. Perhaps hitting $87K.
After that, bounce back up, swiftly, in which the uptrend is confirmed for #Bitcoin and it's ready to break $92K and therefore the run towards $100K in the coming 1-2… pic.twitter.com/lQezKkQM5W
— Michaël van de Poppe (@CryptoMichNL) December 7, 2025
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US Wants 12 Years For Do Kwon Over $40B Terra Collapse
US prosecutors want a 12-year sentence for Do Kwon, co‑founder of Terraform Labs, over the $40 billion Terra collapse. Kwon currently faces sentencing in the US after being extradited from Montenegro earlier this year.
Bloomberg quoted prosecutors stating to the US District Judge Paul Engelmayer that Kwon’s actions were “colossal in scope,” stressing that the damage went far beyond Terra itself.
The DOJ is asking for a 12 year prison sentence for Terra founder Do Kwon after his guilty plea.
Prosecutors say Do Kwon deserves the maximum sentence for his role in the 40 billion dollar Terra collapse. pic.twitter.com/JChkGIYqbz
— Crypto Coin Show (@CryptoCoinShow) December 7, 2025
Authorities state that Kwon misled investors by promoting Terra’s algorithmic stablecoin as stable and sustainable, even though internal communications suggested he knew it was vulnerable
The U.S. Department of Justice is pushing for a 12‑year sentence. Kwon’s defense team, however, has argued for a lighter sentence, citing his time in harsh detention conditions in Montenegro and claiming he did not intend to defraud investors.
SEC Greenlit SUI Crypto ETF With 2x Leverage
The SEC’s approval of the new 2x leveraged SUI Crypto ETF landed with good timing. Right when the market seems to crave the next regulatory surprise.
This green light gives SUI another push into the institutional spotlight, and the arrival of a leveraged crypto ETF on Nasdaq gives traditional investors a way to ride SUI’s daily moves without touching the token itself.
The hammer also hits a sign that regulators are warming up to altcoin ETFs after months of approvals across the crypto market, and it adds fuel to the growing Sui’s efficient network.
Read More Here
South Korea To Treat Exchanges As Banks
South Korea is turning its screws on exchanges in the country after the latest $30 million Upbit hack and plans to treat these platforms more like banks going forward. Simply stated, if an exchange gets hacked, it should be on the hook to compensate users, no matter what.
This is a stark departure from earlier, when exchanges were not liable to cover consumer losses in cases such as the Upbit hack.
SECURITY UPDATE:
South Korea is preparing to introduce bank-level, no-fault liability rules for crypto exchanges following the recent Upbit hack.
The move aims to strengthen consumer protection and raise operational security standards across the industry. pic.twitter.com/X7BKrxi4nW
— Crypto Patel (@CryptoPatel) December 7, 2025
This is not just about hacks either. Korea’s five major exchanges, including Upbit, Bithumb, and Coinone, have had around 20 system failures since 2023, affecting more than 900 users and causing billions in damages. Upbit alone accounted for six of those failures.
New rules are being discussed at the moment. They would require stronger IT security, faster breach reporting, and harsher penalties, including fines that can reach up to 3% of annual revenue.
There are also talks of a stricter anti-money laundering enforcement and shareholder restrictions, with convicted tax or drug offenders barred from owning stakes in licensed exchanges.
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The post Crypto Today: Bitcoin Consolidates Below $90k, Fed Rate Cut Probability Might Spark Pump appeared first on 99Bitcoins.
