Overview
- Bitcoin fell to an intraday low near $91,158 on Nov. 17 before stabilizing in the low-to-mid $90,000s, its weakest levels in roughly six months.
- Technical signals turned bearish with a new death cross and lost supports, though chart watchers say a break back above $98,000 could open a short-term move toward $98,000–$104,000.
- On-chain data point to stress among newer buyers, with about 65,000 BTC reportedly sent to exchanges at a loss on Nov. 15 and short-term holders realizing losses as SOPR stays below 1.
- Institutional indicators remain soft as U.S. crypto ETFs logged about $1.8 billion in weekly outflows and the Coinbase premium swung negative, consistent with continued U.S. spot selling.
- Sentiment gauges registered extreme fear and options flow tilted to downside protection around $90,000–$80,000, while traders track a CME gap near $92,000 and support zones down to roughly $91,000.