Overview
- The price briefly fell to roughly $89,400 on November 18, a seven‑month low that leaves Bitcoin more than 28% below its early‑October record near $126,000.
- Spot Bitcoin ETFs have recorded heavy withdrawals in November, with about $2.6 billion in net outflows reported and more than $1.1 billion over the past week.
- Derivatives deleveraging continued as roughly $1.01 billion was liquidated in 24 hours, mostly from long positions, while sentiment slid to an “extreme fear” reading near 11.
- Technical and market‑structure stress persisted, with a death cross on daily charts, thin order books since the October 10 wipeout, and shrinking stablecoin balances on exchanges.
- Major tokens tracked the slide—Ether dipped below $3,000 and crypto‑exposed stocks weakened—while analysts split between a near‑term bottom case and warnings of potential tests of $82k–$85k or even $75k if outflows continue.