PNC Financial Services Group Inc. began allowing high-net-worth clients to trade Bitcoin via investment accounts on Dec 9, Bloomberg reported. The move follows a July tie-up with Coinbase Global Inc., with Coinbase providing brokerage and tech integration to enable trading in any amount, Brett Tejpaul said.

Standard Chartered lowered its Bitcoin price target for end-2025 to $100,000 from $200,000 on December 9, Decrypt reported. The bank kept its long-term target at $500,000 but pushed the timeline back to 2030 from 2028 after reassessing demand and anticipating slower institutional ETF adoption, Geoffrey Kendrick said.

Singapore Exchange has logged $250 million in cumulative volume on its Bitcoin and Ethereum perpetual futures since launch two weeks ago, CoinDesk reported. SGX president Michael Syn said the contracts are attracting fresh liquidity rather than capital moving from other venues. Institutional investors are primarily using these regulated contracts for spot-futures arbitrage instead of taking outright long positions.

On-chain analyst Murphy said on December 9 that Bitcoin balances on centralized trading platforms have fallen to 2.936M BTC, a new low for the current cycle, with more BTC being moved on-chain for reserve rather than deposited for selling, BlockBeats reported. The previous time exchange balances were at a similar level was on December 17, 2022, after the FTX collapse, while Binance's BTC balance has shown a clear short-term price correlation, with four rapid increases since early 2024 coinciding with BTC price weakness and the recent continuous decline viewed as creating preconditions for a rebound. On-chain data cited by Murphy show that whale cohorts holding more than $1M and $10M in BTC are mainly withdrawing to on-chain addresses, whereas smaller holders with less than $100,000 tend to send BTC to exchanges. The analyst believes the rebound in BTC since the $80,000 low has not yet concluded.

A large BTC options block trade on Deribit on December 9 saw a user buy $90,000 strike put options expiring at the end of January and sell $90,000 strike put options expiring at the end of February, with both legs sized at 375 BTC, according to data shared by a Deribit official. The Deribit representative said the structure reflects a view that Bitcoin could weaken into late January but recover to levels above $90,000 in February. The representative added that some users are positioning for downside in January due to the risk of being removed from the Strategy index at the start of the month, while still maintaining a clearly constructive outlook on the market from February onward.

Bitcoin may be forming a bearish flag pattern and could drop to 7 万美元 on Dec. 9, according to analyst @ali_charts, as cited by BlockBeats. The outlook from the analyst highlights either a potential bearish flag scenario or a move to 7 万美元.

On Dec. 9, James Wynn warned in frequent posts that crypto and stocks could face a bloodbath and urged investors to prioritize wealth preservation and safety, BlockBeats reported. On Dec. 4, the trader described as "bankrupt" said he had closed a Bitcoin short five days earlier and forecast a rebound to $97,000–$103,000 before another decline. Images he shared indicated a potential low at $46,618. He posted bearish calls on X on Nov. 10 and 25 that anticipated a drop in Bitcoin, though the pullback did not reach his $67,000 target.

Bitcoin logged one of its weakest November performances since 2018, with selling pressure during the month concentrated in European trading hours, CoinDesk reported, citing data. Timezone analysis from Presto Research shows the sharp November crypto decline was mainly driven by European capital, while Asian and U.S. sessions were broadly flat. BTC and ETH each dropped about 20–25% over the month, with Europe showing significant net selling versus largely neutral flows in Asia and the United States.

Glassnode said in a weekly market report published on December 9 that Bitcoin has climbed back toward $94,000 and is showing initial recovery signs, while sentiment and positioning remain cautious. The report cites improving market momentum and rising trading volumes, but notes declines in spot CVD (Cumulative Volume Delta) and open interest that suggest mounting potential selling pressure. It adds that options flows signal demand for downside protection, and ETF outflows indicate weak spot demand across the market as investors rebuild confidence after recent volatility.