On November 20, 2025, Bitcoin's value dropped below $84,000, representing one of its sharpest declines since reaching a record high of $126,300 in October. The digital asset has now fallen 32% from its highest point,
reaching its lowest price since the end of April 2025
. This decline brought the 2025 realized price—which reflects the average acquisition cost of coins—down to $103,227,
indicating that the typical 2025 investor is now facing a 13% loss
. This situation is reminiscent of April 2025, when
Bitcoin
dropped to $76,000, although
the current downturn has lasted only half as long as the 80-day slide in April
.
Broader economic pressures have amplified the selloff.
Shifts in the Federal Reserve's interest rate policy
, inflation that remains above target, and a disappointing jobs report have all contributed to a more risk-averse market mood. "Investors were counting on a definite Fed pivot in December, but persistent inflation and a surprisingly strong jobs report have dashed hopes for easy monetary policy,"
commented William Stern, founder of Cardiff
. Furthermore,
Bitcoin ETF outflows surpassed $255 million
on November 17, suggesting that institutional investors are pulling back. These withdrawals,
together with over $1.3 billion in leveraged liquidations
, have intensified the downward movement.
Technical signals highlight the depth of the correction.
Bitcoin has fallen through major support levels
at $90,000 and $93,600, causing a "death cross" as the 50-day moving average dipped below the 200-day average. The cryptocurrency is currently
hovering around the $85,250 area
, a key technical zone that coincides with Fibonacci retracement levels and previous support. "Bitcoin slipping under $86,000 isn't surprising; it's a wake-up call,"
Stern remarked
. At the same time, the Stochastic RSI remains in oversold territory, which historically suggests continued declines rather than a reversal
based on past analysis
.
Despite the downturn, institutional investors are maintaining a cautious optimism.
Strategy, a leading Bitcoin treasury company
, recently acquired 8,178 Bitcoin valued at $835 million to help absorb selling pressure.
Michael Saylor, chairman of Strategy
, stated that the company could endure an 80%-90% drop in Bitcoin's price, even as its market net asset value (mNAV) has slipped below 1—a level some analysts see as a warning sign for operational risk. "Even if BTC were to go to zero," Saylor insisted,
creditors would not be able to force us to sell our assets
.
Market watchers are also focused on regulatory ambiguity and liquidity challenges.
Binance CEO Richard Teng observed
that Bitcoin's price swings are in line with broader asset classes, attributing the decline to "deleveraging and a shift toward risk aversion." Meanwhile,
Ethereum, XRP, and other leading cryptocurrencies have dropped between 5.6% and 3.8%
, reflecting widespread bearish sentiment.
Looking forward,
the $83,500 to $85,000 range will be pivotal
for Bitcoin's short-term direction. If this support remains intact, a rebound toward $93,600–$95,000 could occur, but
a further breakdown might send prices down to $70,000
. "Historically, these periods have often led to strong recoveries," said Edul Patel of Mudrex, though
he emphasized that consistent buying at these levels is necessary
to steady the market.