Bitcoin drops below $90,000 on November 18, 2025, hitting a seven-month low and wiping out much of the year’s gains. The move reflects a mix of macro uncertainty, ETF flows, and heavy selling by large holders — and it sent shock waves across crypto markets and risk assets.
The price move — exacts and context
On Nov 18, 2025, Bitcoin fell beneath the $90,000 mark for the first time in about seven months, sliding roughly 28–30% from its October peak above $126,000. Intraday prints showed prices as low as about $89,400 before a partial rebound. The drop erased most 2025 gains and pushed other major tokens lower — Ether, Solana and others all suffered steep losses.
What drove the sell-off?
Several overlapping factors combined to push Bitcoin under $90k:
1. Macro uncertainty and Fed timing: Traders became more cautious after mixed signals about the timing of U.S. interest-rate cuts and delays in key U.S. economic data. That risk-off mood hit high-beta assets like crypto hard.
2. ETF flows and institutional behaviour: Stalled or negative inflows into spot-Bitcoin ETFs removed a major source of demand. With weaker ETF appetite, supply pressure from sellers translated into bigger price moves.
3. Selling by large holders (whales and long-term investors): Data providers reported increased selling by long-term holders and institutions — a worrying sign because these groups usually hold through volatility. Rising on-chain sales increased market liquidity and lowered prices.
4. Technical triggers and liquidations: Breaking psychological support at $92k–$90k triggered stop-losses and forced liquidations in futures markets, accelerating the downturn. Several technical analysts pointed to a “death cross” and other negative signals that amplified panic selling.
Market reaction — crypto and equities
The drop in Bitcoin coincided with broader weakness in risk assets. Crypto exchanges, miners and listed blockchain firms saw share-price pressure. Some analysts warned the move could cause contagion across smaller crypto projects if selling persisted. Analysts also flagged the next major support zone between $75,000 and $80,000 if bearish momentum continues.
What analysts and data say
Market commentators described the move as a reversal of the strong October rally. Reuters and Bloomberg noted the scale of the decline and linked it to fading risk appetite and ETF dynamics. On-chain analytics flagged the largest 30-day selling by public companies and long-term holders in months — a signal that confidence may be weakening.
Risks for traders and investors
- Volatility risk: Sharp moves increase margin-call risk for leveraged traders and can wipe out short-term positions.
- Liquidity risk: Lower ETF/inflow demand makes it easier for large orders to move prices.
- Macro shock risk: If central-bank policy or economic surprises worsen, risk assets including crypto could fall further
Possible scenarios from here
- Stabilisation and consolidation: Bitcoin could find a base around $85k–$95k if ETF flows return and long-term holders stop selling.
- Deeper correction: If selling continues, the next meaningful support band is near $75k; a fall below that would confirm a deeper corrective phase. Reuters
- V-shaped rebound: A strong macro rebound or renewed institutional buying could lift prices back above $100k quickly — though that depends on renewed demand.
What retail investors should know (simple tips)
- Don’t trade with money you can’t afford to lose.
- Consider reducing leverage or using stop-losses in futures.
- Long-term investors should review their allocation and avoid emotional decisions based on one day’s move.
- Watch ETF flows, U.S. macro calendar, and on-chain whale activity for early clues.
