Bitcoin's sharp decline, erasing $1 trillion in value, is resetting excessive financial leverage rather than undermining its long-term investment case, according to Devere Group CEO Nigel Green on 18 November. He attributes the drop to rapid unwinding of borrowed bets, accelerating liquidations across exchanges and pressuring global risk sentiment. Green emphasized that the core case for Bitcoin and major digital assets remains intact, with leverage cycles distorting short-term prices but not structural trends.

The broader macro environment is amplifying volatility, driven by concerns over jobs, AI and tech momentum, tariffs, and Federal Reserve decisions. These factors shape sentiment but do not alter Bitcoin's trajectory or emerging opportunities in AI and technology. Green noted historical patterns show quick reversals once pressure eases, with deleveraging strengthening market foundations for sustainable future gains. Investors await renewed confidence as excesses clear.

On 17 November, Bitcoin ETFs marked their fourth consecutive day of outflows, totaling $254.51 million, led by BlackRock's IBIT ($145.57M loss), Grayscale's GBTC ($34.52M), ARK & 21Shares' ARKB ($29.67M), VanEck's HODL ($23.32M), Fidelity's FBTC ($11.97M), and Bitwise's BITB ($9.46M). Ether ETFs saw fifth-day outflows of over $193 million from BlackRock's ETHA, with net assets falling. In contrast, Solana ETFs bucked the trend with inflows: Bitwise's BSOL ($7.31M) and Grayscale's GSOL ($0.9478M).

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### Bitcoin Market Analysis: Short-Term vs. Long-Term Holders

In a November 18, 2025, analysis by Alessandro Adami, short-term Bitcoin holders (STH)—those moving coins within the last 155 days—face unprecedented losses. The STH Holder Supply in Profit/Loss Ratio indicates the highest historical level of supply in loss, surpassing the 2022 FTX crash panic. Recent months' anomalous price action and downside volatility have exacerbated this, with STH unrealized losses and red sales surging.

The Spent Output Profit Ratio (SOPR) shows STH unable to sell profitably (SOPR >1) since the October 10, 2025, collapse, mirroring local bottoms in April 2025 and August 2024, where they sold to "strong hands." In contrast, long-term holders (LTH, >155 days) maintain a positive SOPR, with an average cost basis of $66,000, weathering the -15% monthly drop calmly. LTH negative SOPR only occurs in late bear markets, signaling buy opportunities.

Adami advises against blaming "manipulation" for losses, urging STH to adopt patient, long-term strategies and balanced portfolios beyond crypto. He references Alessio Ippolito's Substack for allocation insights, noting speculation's role but warning against improvisation.

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A Vietnam War Veteran in Florida fell victim to a scam that began with a deceptive computer pop-up message, convincing him his money was at risk of theft. He attempted to deposit thousands of dollars in cash into a Bitcoin ATM to protect his funds.

Police intervened just as the man was loading the cash, persuading him to stop and recovering the money. The incident highlights a rising trend of scams exploiting Bitcoin ATMs, where criminals trick victims into converting cash to cryptocurrency.

The story was reported by NBC News correspondent Liz Kreutz on Nov. 19, 2025. (98 words)

Bitcoin (BTC) briefly slipped below $90,000, trading at $89,900 as of mid-November 2025, down from its October peak near $115,000. Traders monitor the $90K support zone, where historical liquidity accumulates, prompting defensive stops and opportunistic long entries. On October 27, expectations were for a drop to $100K–$90K; now at $89.9K, a rebound to $97K and potential breakout to $107K are anticipated if resistance at $96,000–$99,000 is breached with confirming volume.

Analyst Ali Martinez highlights a new death cross—50-day moving average crossing below the 200-day—via X. Over the past year, such crosses marked local bottoms, though in 2022 it triggered a prolonged bear market. A bearish ABCD pattern on the daily chart suggests correction completion, with key support at $83,800. Historical data from Coin Metrics shows post-high corrections lasting 12–18 months, forming accumulation zones at $50K and $30K; optimal entry is after a full correction into 2027+ with a green monthly candle, per illuminati K027 on TradingView. FadeMeIfYouCan on TradingView notes overshoots below $90K often precede 5–8% rebounds.

Institutionally, the Singapore Exchange (SGX) plans to launch perpetual Bitcoin and Ether futures for accredited investors, bridging traditional finance and digital assets. Cryptocurrency ETPs saw $2 billion outflows last week—the largest since February 2025—due to selling by large crypto-native investors and monetary policy uncertainty, per James Butterfill of CoinShares. BTC traded at $90,198.81, down 5.14% in the last 24 hours.

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Arthur Hayes, a prominent market analyst, argues that Bitcoin is suffering from reduced U.S. dollar liquidity. He attributes Bitcoin's support this year to hedge funds engaging in "basis trades" with Bitcoin ETFs, including BlackRock’s IBIT. Hayes predicts further declines before a potential boom, contingent on the U.S. government expanding the money supply.

The crypto market's outlook has deteriorated, with Bitcoin falling below $90,000 for the first time since April on Tuesday morning. It dropped 4.5% over the past 24 hours, according to CoinGecko data, amid transfers from Mt. Gox wallets—roughly 185.5 BTC worth $16.8 million, per Arkham Intelligence. However, renewed buying pressure has lifted Bitcoin 2% in the last five hours, recovering from an intraday low.

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Bitcoin has experienced a volatile week, dropping over 13% in the last 30 days, marking the first negative October close in six years and double-digit November declines. Amid this dip to $89,189 before rebounding toward $94,000, the return of McDonald's McRib sandwich on November 17, 2024, in select U.S. locations has reignited a long-standing crypto meme. Introduced in 1981 and discontinued in 1985, the barbecue pork rib patty has periodic comebacks, tracked by the "McRib Locator" app. Crypto enthusiasts on X (formerly Twitter) jokingly link its returns to Bitcoin pumps, citing past alignments like 2017 (BTC from $6,500 to $19,500 post-October rollout), 2020 halving-era rally, 2021 peak at $68,742 on November 10 after November 1 return, and 2024's six-figure ATH. However, it failed in 2018 bear market, 2019 cooldown, 2022 FTX/Terra crash (BTC below $17,000), and was neutral in 2023 recovery. The meme persists as comedic coincidence, not market driver.

On November 17, Bitcoin ETFs saw $254.51 million in outflows for the fourth straight day, led by BlackRock's IBIT ($145.57 million), Grayscale's GBTC ($34.52 million), ARK & 21Shares' ARKB ($29.67 million), VanEck's HODL ($23.32 million), Fidelity's FBTC ($11.97 million), and Bitwise's BITB ($9.46 million). Trading volume hit $7.66 billion, with net assets at $121.01 billion. Ether ETFs faced $193.04 million outflows from BlackRock's ETHA, extending five-day losses, while Solana ETFs bucked the trend with $7.31 million inflows to Bitwise's BSOL and $947,800 to Grayscale's GSOL.

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### Bitcoin Mining Stocks Amid Market Volatility

Bitcoin mining stock BMNR has declined 24% this week, trading at $30.95. Despite the drop, Bitmine accumulated 54,156 ETH worth over $170 million in the past seven days, indicating strong long-term conviction. With RSI nearing oversold, BMNR could rebound from $30.88 support to $34.94 or $37.27 if conditions stabilize. However, further Bitcoin weakness might push it below $27.80 toward $24.64, invalidating bullish views.

BTDR suffered steep losses, falling 53% over seven sessions to $10.63, amid broad market pressure on miners. Its RSI is deeply oversold, suggesting a potential reversal. Buyers could drive it from $9.56 to $11.92 or $15.24. A breakdown below $9.56 risks a slide to $7.96, extending bearish momentum.

HIVE dropped 29% last week but rose 7.5% today to $3.56, fueled by 285% Q2 revenue growth boosting confidence. It may recover to $4.04 or $5.09 with sustained momentum. Failure could see it fall to $3.00 support, signaling renewed weakness.

For more insights, sign up for Editor Harsh Notariya’s Daily Crypto Newsletter. This analysis is informational only; conduct your own research.

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Bitcoin has entered backwardation, with futures trading below spot prices, signaling market stress and "extreme fear" amid a 30% drop from its all-time high. The three-month annualized basis has fallen to about 4%, its lowest since November 2022, reflecting reduced demand for leveraged long exposure. This compares to a peak of 27% in March 2024, when Bitcoin hit $73,000.

Historical episodes align with market bottoms: November 2022 during the FTX collapse at around $15,000; March 2023 amid SVB and USDC depeg below $20,000; and August 2023 following Grayscale ETF news, driving prices toward $25,000 before a rebound. Thomas Young, Managing Partner at RUMJog Enterprises, notes via X that backwardation is rare and often marks capitulation, leading to reversal or a final flush bottom.

In the Asia Morning Briefing (Nov 14, 2025), Bitcoin's slide under $90,000 showed no deep correction, with stable XRP/BTC and ETH/BTC ratios and balanced top-20 rankings indicating a fundamentals-driven market. Tokens with utility, staking, or institutional demand hold value, while speculative assets weaken. Asia-Pacific markets were mixed, with Japan's Nikkei 225 up 0.5% despite Wall Street tech declines.

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Bitcoin's price is under significant pressure, recently falling below $90,000 USD, sparking panic among investors. Investment strategist Tom Lee from Fundstrat attributes the downturn primarily to a flash crash on October 10, 2025, triggered by former U.S. President Trump's surprise announcement of new tariffs against China. This event drained liquidity from the crypto market, forcing closures of leveraged positions.

Lee suggests the crash's impact was severe, potentially damaging a key market maker in the crypto sector, leading to prolonged capital shifts beyond the initial shock. Despite the tension, Lee remains optimistic, anticipating rising prices soon and a bull cycle extending into 2026, when new all-time highs are expected. He has not retracted his year-end target of $250,000 USD per Bitcoin. As head of Ethereum-holding Bitmine, Lee's views align with this bullish outlook.

The article notes potential conflicts of interest: Bernd Förtsch, board member and majority owner of publisher Börsenmedien AG, holds direct and indirect positions in Bitcoin and related derivatives that could benefit from price movements. For trading, it recommends BÖRSE ONLINE's crypto platforms comparison.

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CNBC reporter MacKenzie Sigalos covers the crypto market's recent volatility, highlighted by Bitcoin's brief dip below $90,000. This sharp decline has sparked renewed debate among investors about the asset's trajectory: whether it has reached its lowest point or if further drops lie ahead.

The event underscores ongoing uncertainty in the Bitcoin market, with traders questioning the sustainability of recent highs amid broader economic pressures. No specific recovery timeline or catalysts were detailed in the report.

Bitcoin's market dominance slipped from 61.4% to 58.9% this month, alongside a nearly 16% price decline over the past four weeks, amid a broader deleveraging cycle rather than a shift to altcoins. This process, initiated by forced liquidations in October, has seen the market grind lower as high-risk positions are reduced. Rohit Apte, Head of Markets at Hex Trust, noted in an interview: “Bitcoin’s drawdown this month reflects a general deleveraging that began with October’s liquidation. Since then, the market has been grinding lower as leverage is flushed out.”

Major altcoins like Ether (ETH), Cardano (ADA), Dogecoin (DOGE), and Solana (SOL) underperformed Bitcoin, posting deeper losses. The XRP/BTC pair was a notable exception, showing strength. On-chain data supports caution: Ethereum's network remains stable without congestion or fee spikes typical of altcoin bull runs, with Base processing about 19 million daily transactions and networks like Optimism, Arbitrum, Polygon, and Celo handling millions without unusual activity.

As of November 18, 2025 (published 3:51 pm, updated 4:45 pm), Bitcoin (BTC/USD) trades at $91,697, down 0.44%, confirming bearish momentum with a Break of Structure (BOS) below $95,000. Price approaches a key demand zone at $84,000–$86,000. Holding above $90,000 could spark a rebound to $95,000–$97,000; a break below $89,000 risks testing $85,000 or $82,500. Long-term fundamentals are strong, but short-term volatility warrants caution.

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Bitcoin has stabilized below $100,000 after a drop, but market nervousness persists, with investors questioning if it's a trend reversal or pause, per Oliver Michel, Vorstand of tokentus investment AG.

Macro pressures include a FedWatch Tool probability of a December rate cut falling from nearly 95% to over 40%, due to the US Government Shutdown halting key data like CPI inflation figures. The New York Fed is bolstering financial system liquidity. Internationally, Japan's 10-year bond yield hit 1.71%—highest since 2008—prompting Japanese funds to exit US bonds, harming risk assets like tech stocks and crypto. Bitcoin's 30-day correlation with the Nasdaq 100 stands at 0.8, a 10-year high; both reached all-time highs around the recent Fed meeting before an A-B-C correction in the rate-cut cycle.

Technically, the weekly chart remains bullish with higher highs and lows, while the daily chart tests a critical support zone of $92,000–$93,000, aligning with an open CME gap. Friday's high trading volume signals a directional battle. November is pivotal, with a red MACD histogram as a warning, though RSI shows no overbought conditions.

Ethereum and XRP remain stable in tight ranges, supported by new spot ETFs. Michel predicts altcoins will follow if Bitcoin rebounds. Bitcoin dominance has eased slightly, suggesting a market phase shift. Optimistically, Michel notes no bull market ends in fear; the shutdown's end and aid packages could inject liquidity soon.

(Disclosure: Bernd Förtsch of Börsenmedien AG holds positions in Bitcoin, Ethereum, tokentus investment AG.)

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Bitmain has launched a public bidding process for Antminer S19k Pro mining machines to clear inventory amid a challenging Bitcoin mining hardware market. Announced on X, the auction invites buyers to "name your price" starting at $5.5/TH/s for two variants: a 120 TH/s model with 23 J/TH efficiency and a 136 TH/s model at 27 J/TH. Bidding opened on Nov. 18 and closes on Nov. 24, with the final clearing price revealed on Nov. 27. Shipments are slated for December 2025 after buyers settle balances.

These S19k Pro units lag behind Bitmain's S21 lineup and rival 2024 launches in efficiency, highlighting manufacturers' struggles with reduced demand post-Bitcoin's recent price pullback and a mining expansion slowdown. The aggressive open bidding for likely used fleets signals Bitmain's push to offload stock, as miners delay capital expenditures amid compressed hashprice economics and softer appetite for new or refurbished equipment.

Bitcoin's hashprice has plummeted to $38.2 PH/s, its lowest level in over five years, according to Luxor. This metric, which measures the expected daily revenue per terahash per second of computing power, is influenced by network difficulty, bitcoin price, block subsidy, and transaction fees. Hashprice rises with bitcoin's price and fee volume but falls with increasing difficulty. Currently, bitcoin's hashrate stands near record highs at over 1.1 ZH/s on a seven-day moving average, while network difficulty remains at all-time highs of 152 trillion. Bitcoin's price has dropped to around $91,000, down roughly 30% from its October 2025 all-time high of more than $126,000. Transaction fees are extremely low, with mempool.space quoting high-priority transactions at 25 cents or 2 sat/vB.

This hashprice decline coincides with a sharp pullback in publicly traded bitcoin mining stocks, such as the CoinShares mining ETF WGMI, which has fallen 43% from its peak and trades just below $41. Declines are partly due to waning investor enthusiasm for AI infrastructure pivots in the sector.

Market observers note bitcoin's slide under $90,000 has not triggered typical deep corrections, signaling a shift to a fundamentals-driven market. Stable XRP/BTC and ETH/BTC ranges, along with balanced top-20 rankings, highlight utility-focused tokens holding value amid pressure on speculative assets. Asia-Pacific markets were mixed, with Japan's Nikkei 225 up 0.5%. (178 words)

Bitcoin's price is crashing, sparking panic on X with doom charts and influencer optimism, but this dip distracts from a graver threat: the erosion of privacy via digital IDs and attacks on Bitcoin anonymity. The article argues the crash offers a buying opportunity to secure self-custody against impending surveillance.

Digital IDs serve as unique identifiers for all online services—from healthcare and banking to smart appliances—enabling mass surveillance under sustainable development goals. Apple launched an advanced biometric system, merging private data with governments for 24/7 monitoring. Europe enacted digital ID laws in 2024; the UK proposes tying them to migrant enforcement in 2025; the US observes closely. This integrates identities with finances, potentially requiring IDs for Bitcoin transactions.

Governments target Bitcoin privacy tools, prosecuting developers for enabling potential crimes. In the US, Samurai Wallet creators Kon Rodriguez and William Logren Hill were sentenced to 5 years for conspiracy to commit money laundering via coinjoin mixing, despite no direct involvement. Tornado Cash developer Roman Storm's appeal was denied, facing retrial; Ross Ulbricht received a life sentence for Silk Road but was pardoned by Donald J. Trump amid pressure.

Historically, financial control escalated with the 1913 Federal Reserve creation, 1930s gold confiscation, 1971 Nixon gold standard suspension, and 2008 crisis debasement, culminating in Bitcoin's 2009 birth as permissionless, ID-free money. The article likens privacy software to protected speech, citing 1990s cypherpunk victories: Phil Zimmerman's PGP evaded charges in 1996 after First Amendment rulings; John Gilmore challenged encryption export bans, affirming code as speech.

This "crypto war" continues, with banks fined for laundering billions while self-custody risks criminalization, urging resistance to digital IDs for privacy preservation.

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In autumn 2021, El Salvador became the first country to adopt Bitcoin as legal tender under President Nayib Bukele, positioning him as a symbol of the crypto revolution challenging the global financial system and U.S. dollar dominance. The move aimed to cut remittance costs for migrants and attract investments, but it failed to deliver.

By January 2024, amid dismal results, Bitcoin's legal tender status was revoked under pressure from the International Monetary Fund (IMF). The IMF conditioned loans on closing the state-controlled Chivo Wallet and criticized El Salvador's financial fragility.

Bukele also launched plans for Bitcoin City, an autonomous enclave with tax incentives, powered by geothermal energy from El Salvador's volcanoes.

Recently, Bukele announced on X the acquisition of 1,090 Bitcoin, raising national reserves to 7,474 BTC, with a "Hooah!" comment. This occurred as Bitcoin's price dipped below $90,000. However, the IMF views it as an internal wallet transfer, not a new purchase—El Salvador has bought none since December 2024, despite claims of daily 1 BTC acquisitions.

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### Bitcoin Price Volatility Amid US Uncertainties

Bitcoin reached a record high of around 126,000 USD in early October, as reported by dpa. However, it plummeted below 90,000 USD overnight into Tuesday, hitting 89,300 USD and erasing all 2025 gains, following a drop under 100,000 USD on Thursday. Analyst Timo Emden of Emden Research attributed the sell-off to macroeconomic uncertainty, institutional outflows, profit-taking, and psychological effects below the 100,000 USD threshold. By 13:40, it recovered to 91,400 USD per Coinmarketcap. On Friday midday, it fell to its lowest since May at about 95,000 USD, amid policy uncertainty and hopes for recovery, with Emden noting investors treading a "narrow path."

### Recovery and External Pressures

The price stabilized above 100,000 USD on Tuesday at 104,000 USD, after briefly exceeding 106,000 USD at week's start, driven by rising risk appetite from US budget negotiations. The Senate approved an interim budget to January's end, pending House approval, potentially sparking a "relief rally" per Emden, though risks persist. The Federal Reserve cut rates by 0.25% to 3.75-4.0% on Wednesday—its second this year—amid missing data from the US shutdown and 3.0% September inflation. Post-announcement, Bitcoin dipped below 108,000 USD to 107,800 USD (15:05). US-China trade tensions, Trump tariff threats (relativized on Truth Social), and regional bank issues pressured it to 103,530 USD on Friday (lowest since June) and 107,000 USD Saturday. Monday saw recovery to 116,000 USD, then 111,000 USD, contrasting Gold's 4,380 USD high. On Sunday, it first topped 125,000 USD at 125,426 USD (106,137 EUR), fueled by institutional inflows, expected Fed cuts, shutdown uncertainties, and "Uptober" seasonality. The partial US shutdown began night to Wednesday due to budget deadlock, affecting 750,000 workers and 400 million USD daily pay.

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Bitcoin has reached $91,000 amid a loss of momentum, entering the "golden pocket" at a 60% retracement from the previous wave, with RSI at the bottom. Bitcoin dominance is rejecting its trend line, showing a weekly downside break and RSI at the top, signaling potential strength for altcoins after prolonged weakness. The market feels like a bear phase with capitulation, including whales selling Bitcoin held since 2009, but historical patterns from crashes (e.g., pre-Trump bank collapses, wars) suggest strong bounces ahead.

Liquidations indicate upside liquidity, with altcoins oversold since October 10th, while Bitcoin and ETH catch up to lower levels—possibly $85,000 or the 80s for BTC, and below $3,000 (prior wick at $3,300) for ETH. Opportunities arise in descending wedges on daily charts, especially for altcoins like SUI and Solana, which show bounces. The streamer emphasizes trading strategies for recovery, noting dominance drop could amplify altcoin gains on Bitcoin rebounds.

In a major announcement, Sniper Club—co-created with Dylan and supported by Craig—is now free on the Circle platform, opening its community, live tradings, and tools (sections for investing, leverage, bots) to all, starting with OG members in bronze/silver tiers, amid Black Friday market dips.

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The Bitcoin market is experiencing lethargy, with prices dipping below $90,000 for the first time since May, amid uncertain macroeconomics and potential US interest rate hikes. Glassnode data reveals whales accumulating BTC since late October: wallets holding over 1,000 BTC rose from 1,354 on October 27 to 1,384 on November 18, a 2.2% increase and the highest in four months.

In contrast, small holders are selling amid price pressure; wallets with at least 1 BTC fell from 980,577 on October 27 to 977,420 on November 17. This pattern sees big investors buying during doubt, while smaller ones sell in fear. Matt Hougan of Bitwise Asset Management calls current levels a "generational opportunity," potentially profitable if the market rebounds.

Key updates include: El Salvador buying over 1,000 BTC for $100 million; BTC ETFs facing $869 million outflows and a drop below $100,000 triggering $463 million in liquidations; whales continuing accumulation despite fragile macro; Cathie Wood's ARK purchasing $10 million in Bullish shares; and MicroStrategy's stock falling over 30% to around $200 despite holding over 600,000 BTC. (178 words)

### Bitcoin Market Overview

As of 18 November 2025, at 10:05 Uhr, Bitcoin is trading at approximately 78,223 Euro, down 5.24% in the last 24 hours, 13.63% over seven days, and 14.95% for the month. Introduced in 2009, Bitcoin has grown remarkably from 200-300 Euro per coin ten years ago, establishing itself as the leading cryptocurrency. However, November 2025 has seen strong losses, with the asset on a downward trajectory amid ongoing volatility.

### Influencing Factors and Future Outlook

Key price drivers include supply and demand, technical developments, regulatory changes, institutional adoption, global crises, and large trades by "whales." While Bitcoin is increasingly viewed as "digital gold" for its scarcity and inflation-hedging potential—similar to gold's limited supply—it differs significantly: more volatile than gold, younger in history, less societally accepted, and requiring technical know-how for storage, unlike physical gold. Experts' 2025 prognoses vary; Michael Saylor, CEO of Strategy, predicts significant rises, while critic Peter Schiff favors gold and foresees Bitcoin's decline.

### Investment Considerations

Entry now may not suit all due to high prices—even 0.1 BTC costs about 7,800 Euro. Invest only affordable losses in a diversified portfolio, via reputable platforms like Coinbase, Bitpanda, Kraken, Trade Republic, Finanzen.net Zero, or N26. Avoid dubious sites to prevent fraud; this is not financial advice.

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