Bitcoin Updates: Bitcoin Drops 25% While ETFs Remain Stable, Underscoring Confidence from Institutions

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Bitcoin Updates: Bitcoin Drops 25% While ETFs Remain Stable, Underscoring Confidence from Institutions

Bitget-RWA2025/11/21 14:16

By:Bitget-RWA

- Bitcoin fell to $82,605 in Nov 2025, mirroring FTX-era losses with STHs holding 2.8M BTC at a loss. - ETF assets remain stable despite 25% price drop, showing institutional confidence amid retail distress. - Market corrections erased $120B in value, pushing total crypto cap below $2.8T as analysts warn of further declines. - Weak U.S. employment data and fading Fed rate cut hopes exacerbate fears of a potential $75K price target.

Bitcoin's latest price movements have been likened to those seen during the FTX crisis, with short-term investors experiencing unprecedented losses and market corrections echoing the volatility of early 2025. On November 21, 2025, the cryptocurrency dropped to $82,605, marking a 4.53% decrease for the day and extending its monthly decline to 23%—the steepest since June 2022

based on economic reports

. This downturn has sent

Bitcoin

below its realized price for 2025 of $103,227, putting the average investor at a 13% loss

as noted by CoinDesk

According to Glassnode, short-term holders (STHs)—those owning Bitcoin for under 155 days—are now collectively sitting on 2.8 million BTC in losses,

the highest since the FTX fallout

. This milestone is significant for the market, as STHs have been responsible for much of the recent buying. With Bitcoin now trading below $95,000, almost all coins bought since June 15 (when the price was $104,000) are in negative territory

according to market assessments

. Meanwhile, long-term holders (LTHs) have continued to decrease their positions,

with Glassnode recording a reduction of 452,532 BTC

in LTH supply since July 2025. Nicholas Gregory, a Bitcoin proponent and Fragrant Board Director, explained that these sales are driven by lifestyle choices rather than pessimism, highlighting the U.S. ETF debut and $100,000 price targets as motivating factors

as reported by CoinDesk

Bitcoin Updates: Bitcoin Drops 25% While ETFs Remain Stable, Underscoring Confidence from Institutions image 0

The gap between Bitcoin's price and the performance of U.S. spot ETFs has also widened. Even though Bitcoin has dropped 25% from its record high in October,

ETF assets under management have only decreased by 4%

, staying close to their all-time highs in BTC terms. This resilience suggests strong institutional faith, even as retail investors face challenges. Still, the broader market is showing signs of stress.

Open interest in Bitcoin futures has fallen by 35%

since reaching $94 billion in October, and more than $1.9 billion in long positions were wiped out in a single day when the price dipped below $84,000.

Historically, Bitcoin pullbacks often fall below the yearly realized price, creating buying opportunities. The current downturn

resembles the April 2025 correction

, when prices slid from $109,000 to $76,000 over an 80-day span. Although this correction has lasted just 43 days as of November 21,

it has already wiped out $120 billion

in crypto market capitalization, bringing the total below $2.8 trillion. Experts caution that more declines could follow, with some predicting a drop toward $75,000 if economic headwinds continue.

Weak U.S. jobs data and diminishing expectations

for Federal Reserve rate cuts have intensified concerns, especially after the October 10 event that erased $19 billion in leveraged positions.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Bitget-RWA•2025/11/22 19:26

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Bitget-RWA•2025/11/22 19:26

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Bitget-RWA•2025/11/22 19:24