Overview
- Bitcoin fell to roughly $86,500–$87,000 on Thursday, its lowest level since April and about 30% below October’s record near $126,000, as the crypto market’s value dropped by about $1 trillion since early October.
- Derivatives wipeouts accelerated, with roughly $780–$830 million liquidated over 24 hours and about $236 million in a single hour before the slide under $88,000.
- Spot‑ETF flows deteriorated over the month, including a record $523 million daily redemption from BlackRock’s fund on Nov. 18 and cumulative November outflows near $2.9 billion, though a modest $75 million net inflow on Nov. 19 failed to change momentum.
- Rate‑cut odds for December fell to about 33%–40% by CME FedWatch, eroding risk appetite; a brief bounce after Nvidia’s strong earnings lifted bitcoin back above $90,000 but quickly faded.
- Sentiment gauges hit extreme fear readings near 11–15 as analysts watched the $88,000–$90,000 support zone, with views split between stabilization in the $89,000–$95,000 range and a potential slide toward the mid‑$70,000s if outflows intensify.