ETH, ADA, and SOL stabilize, Bitcoin fluctuates around $90,400: European market becomes the main reason for the November sell-off

Bitcoin prices remained near $90,400 on Tuesday, with the market stabilizing after experiencing its weakest November performance since 2018. Market data shows Bitcoin rose slightly by 1% over the past 24 hours, Ethereum increased by 0.2%, and other major altcoins saw mixed movements. BNB rose nearly 1%, XRP edged lower, and Solana fell by about 0.6%. Despite liquidity remaining weak ahead of the Federal Reserve’s decision, the overall rebound momentum continues.

The latest market timezone data has drawn attention. A Presto Research report points out that the European trading session has been the main driver behind the 20% to 25% decline in Bitcoin and Ethereum this month, with negative returns significantly higher than in other regions. Asian and US markets remained largely flat, indicating that during the crypto market’s deleveraging process, capital behavior has diverged significantly across regions.

Meanwhile, crypto-related stocks have also experienced significant adjustments. Strategy (MicroStrategy) disclosed on Monday its largest Bitcoin purchase in three months, spending $963 million to buy 10,624 BTC, bringing its total holdings to about 660,600 BTC, worth roughly $60 billion at current prices. Nevertheless, the company’s stock price has fallen nearly 50% over the past six months, as investors worry it may be removed from the MSCI Index.

The macroeconomic environment continues to influence the direction of the crypto market. Asian stock markets declined, and uncertainty about Fed rate cuts and the pace of easing policy in 2026 has kept markets cautious. Global bond yields remained high after a sharp drop on Monday, putting pressure on high-risk assets such as Bitcoin.

On-chain sentiment shows the CryptoQuant bull market score index has dropped to zero for the first time since January 2022, indicating insufficient market liquidity and that most on-chain Bitcoin indicators have turned bearish. Nevertheless, potential medium-term positives are accumulating, including a possible adjustment to US 401(k) retirement account rules in early 2026, which could allow trillions of dollars of funds to be allocated to Bitcoin.

Currently, Bitcoin is fluctuating near $90,300, with the market watching to see if it can break through the $94,000 to $98,000 range. As year-end approaches, whether the European trading session continues to increase selling pressure will be a key indicator for the next market direction.