Bitcoin hovered near $90,400 on Tuesday as crypto markets steadied after one of the sector’s ugliest November performances since 2018, even as new data showed Europe led the month’s sell pressure by a wide margin.

BTC rose 1% over the past 24 hours while ether added 0.2%, according to CoinGecko. Major altcoins were mixed; BNB gained nearly 1%, SOL slipped 0.6% and XRP edged lower. The broader market held its recent rebound, though liquidity remained thin ahead of Wednesday’s Federal Reserve decision.

Fresh timezone-segmented data from Presto Research showed Europe was the primary driver of November’s 20–25% drawdowns across BTC and ETH, with average session returns turning deeply negative throughout the month. Asia and the US sessions, by contrast, were largely flat, indicative of how regional flows diverged as crypto de-leveraged.

November’s downturn also coincided with significant repositioning in listed crypto equities. Strategy disclosed its largest Bitcoin acquisition in more than three months on Monday, purchasing 10,624 BTC for $963 million.

The haul, funded largely through new equity issuance, brings its total holdings to about 660,600 BTC worth roughly $60 billion at current prices. The company’s shares traded near $180 and remain down about 50% over six months as investors weigh the risk of removal from key MSCI indices.

Meanwhile, the macro climate remained the main constraint for crypto directionally. Asian equities slipped as traders braced for the Fed’s rate cut and any signal on the pace of easing into 2026. Global bond yields stayed elevated following Monday’s slump, adding pressure to high-beta assets.

Crypto-specific sentiment remains fragile. CryptoQuant’s Bull Score index fell to zero for the first time since January 2022, with most BTC on-chain indicators turning bearish absent fresh liquidity.

At the same time, several medium-term catalysts are forming on the horizon, including potential US 401(k) rule changes in early 2026 that could open trillions in retirement savings to Bitcoin exposure.

Bitcoin last traded near $90,300, with traders watching whether the market can push toward the $94,000–$98,000 band or whether European hours continue to exert pressure as year-end positioning tightens.