December started with a discouraging beginning on its very first day. Bitcoin's drop below 90,000, ETH losing its support at 2,900, and the altcoins entering a chain reaction of declines created a true "cold shower" effect in the market. This sharp pullback experienced in a short period was particularly exhausting for investors using high leverage.

To understand this table, it is necessary to read both macro changes and on-chain movements together. Although the recent drop may appear to many as a "flash crash," the underlying accumulated risks had actually been evident for days.
1. Why did the market suddenly panic?
There are several critical triggers for the recent pullback. Statements suggesting that global central banks could become hawkish again have already weakened risk appetite. Additionally, the short-term stagnation on the stablecoin side has led to a drying up of buying liquidity. When examining fund flows, it is clear that particularly large wallets have been following a selling strategy for weeks. This suggests that the decline is not "sudden" but rather a "burst of accumulated pressure."
2. Does December really have to be completely bad despite all this?
No. December is historically one of the months that cryptocurrencies love to turn the tables. There are two main reasons for this:

• Firstly, the Fed is entering a period of clarity regarding its monetary policy. The announcement on December 10 could be a strong catalyst that reorients the market. Currently, the expectation is that the likelihood of a 25 basis point interest rate cut is quite high. If this happens, it is possible that the pressure in December will give way to a recovery towards the end of the year.
• Secondly, on-chain data: The supply of Bitcoin held by long-term investors is close to record levels. In contrast, the amount of BTC on exchanges continues to decrease. This means there are few sellers and many holders. This is typically a structure we see in bottom regions.

3. So how should we read the table as we enter the final period of the year?
There are a few critical signals to pay attention to throughout December:

• Stablecoin supply: If it begins to increase again, it means a "refueling" for these prices.
• Whale behavior: Periods when large wallets engage in aggressive accumulation often coincide with pre-bull market phases. Especially in the last 48 hours, there are signs of small-scale recovery.
• Volatility: It is currently suppressed. In such tight markets, strong movements are usually inevitable.
• Liquidation zones: Currently, the liquidity accumulation above indicates that a possible reaction rally could be strong.

4. My personal assessment
The market's recovery after such aggressive declines typically varies between a few days to a few weeks. However, these periods have also been intervals in the past where significant opportunities existed.
My approach is as follows:
It is healthier not to enter a search for direction without rushing, without panicking, and before critical levels are clarified. Because December is a month that is difficult to predict but has high volatility. Both Fed decisions and year-end portfolio adjustments can change pricing at the last minute.

This market does not operate with fear; calmness and reading the right data allow many to get ahead.
December started harshly, but the situation may change completely in the rest of the month. The important thing is to move forward along the path indicated by the data without succumbing to panic.
#DecemberMarketOutlook