Bitcoin suddenly jumped from $80K to over $87K on Sunday despite weeks of heavy losses

Bitcoin shocked the entire market after ripping past $87,000 out of nowhere on an otherwise boring Sunday.

A few hours earlier, the king was stuck near $80,000, looking as weak as the rest of the crypto sector.

More than $1 trillion has been erased from crypto in the past nine days, as Bitcoin crashed to its lowest level since April, putting this month on track to be its worst since 2022. The coin is still down over 33% from the $126,000 peak it hit in early October, which places it deep in bear‑market territory.

Even with today’s rally, Bitcoin is still down about 10% for the year. Several analysts warned that more selling could push it toward its first yearly loss since 2022. That’s also why so many traders reacted with disbelief when the price shot upward today.

The market has been drowning in red candles all month, and most people were bracing for more pain, not a sudden $7,000 swing.

Analysts track selloff pressure

Hyunsu Jung, who runs Hyperion DeFi, said the move today doesn’t change the bigger picture. Jung said, “It seems early in the selloff process.” He added that it’s “difficult to attribute selling to a single factor,” pointing to a broad pullback hitting both equities and crypto.

Jung said risk assets have been under pressure due to several issues, including “potential exhaustion of the AI trade,” global rate uncertainty, and large players like corporate treasuries and, most importantly, BlackRock shareholders incessantly moving more and more of their cash out of crypto in favor of equities.

Jung also pointed to a technical weakness building since October. When Bitcoin climbed earlier that month, the RSI did not rise with it. This signaled more downside ahead. That warning played out when the coin broke through the $106,000 support level, triggering heavy selling.

Jung said the pressure came “not so much due to short-term traders but long-term investors exiting the market.” He said down days have continued to show some of the strongest volumes of the second half of 2025, including a 4.4% decline that ranked among the heaviest trading days this period.

At the same time, Polymarket resurfaced the old meme tied to Adam Back’s famous 21 million BTC buy order. The platform posted that “Bitcoin can never go to $0 because Adam Back has a buy order for 21 million Bitcoin at $0.01.”

Adam, a British cryptographer and cypherpunk, leads Blockstream and created Hashcash, which miners still use. He has predicted that Bitcoin could reach between $500,000 and $1 million in this cycle.

Traders watch U.S. spending data

Oleg Kalmanovich at Neomarkets KZ said Bitcoin will not revisit its early‑October highs unless upcoming U.S. spending data gives the Federal Reserve a reason to cut rates. He told RBC that traders are now waiting for the October retail sales report due November 25, followed by personal consumption figures the next day.

Kalmanovich said, “If the figures fall below expectations, the Fed could cut rates on December 10, giving the market a chance to reverse and rebound.”

But he also warned that if the data disappoints, the pressure on crypto will continue, and a true recovery might not appear until the spring of 2026.

Vasily Girya, who runs GIS Mining, told RIA Novosti that demand returned for Bitcoin at $80,600, which helped spark the small recovery seen before today’s jump. But he warned that it is “premature to consider this movement as the beginning of a sustainable trend reversal.” Girya said the key short‑term threshold was $87,000.

If the price settles below that level before U.S. stock trading opens Monday, he believes it could mark the start of a long period of stagnation, or what many call crypto winter.

Girya said a fast recovery would help avoid that outcome. He said Bitcoin needs to climb back to $93,000 by Monday to steady confidence. He added that this correction level is enough to trigger a rebound from a technical standpoint, but right now “traders are adopting a wait‑and‑see approach.”

Kalmanovich also said that wealthier traders are being forced to adjust their portfolios toward the dollar, which adds more pressure on Bitcoin as the market heads into another tense week.

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