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Bitcoin’s sluggish price performance was the common feature in the primary two weeks of November. After losing the $100,000 support, all eyes are on the flagship cryptocurrency because it hovers around one other of its key price levels – namely $95,000. However, as Bitcoin price struggles to regain bullish momentum, recent on-chain data suggests an event with short-term bullish implications.
Could BTC price recovery begin in December?
In the newest quicktake post on the CryptoQuant platform, XWIN Research Japan reported that Bitcoin could soon see a big recovery from its previous highs. To lend credence to this finding, the analytics firm revealed that reserves on stablecoin exchanges are continually increasing at a rapid pace.
In the past, large price increases have been preceded by periods of stablecoin accumulation. The DeFi company cited the event in July 2025 for example. Since BTC was moving sideways around $100,000 at the moment, there was also an exponential growth in stablecoin liquidity. Weeks later, Bitcoin broke through the resistance it faced and the worth rose to around $110,000.
The same pattern was observed from mid-August to late September. After foreign exchange reserves recorded growth of greater than $8 billion (in 30 days), Bitcoin showed little or no directional momentum. However, the leading cryptocurrency soared at the top of September, reaching an all-time high of $126,000.
The final days of September and early October also saw large-scale stablecoin accumulation – an event that also preceded Bitcoin's rise to its all-time high before its mid-October crash.
Source: CryptoQuant
Although there’s reportedly a pattern at play with stablecoin accumulation being the important thing factor, XWIN Research explained that it is just not really easy to predict price reactions to this modification. This is attributable to the inconsistencies in Bitcoin’s response prior to now. “Sometimes the response occurs inside a couple of days, sometimes it takes several weeks,” the institution explained.
However, XWIN Research noted that a macro event similar to the upcoming FOMC meeting in December could function a trigger to activate dormant liquidity. Stablecoin reserves are at their highest level ever in 2025 – this significant amount of liquidity could fuel the subsequent significant price rally.
BTC Trading Below 365 Day MA – More Pain Ahead?
In one other post on X, Julio Moreno, head of research at CryptoQuant, expressed a less optimistic forecast for the market leader. The crypto expert reiterated that Bitcoin price has fallen below its annual moving average of $102,000.
Citing historical trends, Moreno argued that the Bitcoin market could also be at the start of a bearish phase because it is “quite difficult to get better from a failure of its 365-day MA.”
Currently, BTC could goal the $92,000 and $72,000 support levels. However, should significant demand enter the market, reflecting a shift in sentiment, the flagship cryptocurrency could see a miraculous reversal of its precarious situation.
As of this writing, Bitcoin is value around $96,050, reflecting no significant movements within the last 24 hours.
The price of BTC within the each day time-frame | Source: BTCUSDT chart on TradingView
Featured image from iStock, chart from TradingView
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