Bitcoin News Update: Bitcoin's Drop Intensifies as Major Holder's Deposit Unable to Halt Crypto Market Downturn
- Bitcoin plunged 4.53% on Nov 21 as a 665.9 BTC whale deposit into Binance failed to halt a $120B crypto market crash. - Prices fell to $81,629 amid weak U.S. jobs data, fading macro optimism, and $3.9B in leveraged position liquidations across 24 hours. - Bitcoin ETFs saw $903M outflows while perpetual futures open interest dropped 35%, signaling institutional retreat from crypto. - Analysts warn of forced selling from leveraged holders like MicroStrategy as Bitcoin's $75K support level appears increasin
Bitcoin experienced heightened turbulence on November 21, after a major investor transferred 665.9 BTC—worth $55.18 million—to Binance, coinciding with a widespread downturn in the cryptocurrency market. This transaction, among the largest single-day deposits to the exchange in recent months, took place as
The sell-off intensified following disappointing U.S. jobs data, which dampened hopes for Federal Reserve rate reductions and added to concerns already fueled by weakening macroeconomic sentiment and a series of DeFi security breaches.
Institutional players also seem to be pulling back.
Although the whale’s deposit into Binance is notable, it has not been enough to halt the downward momentum. The 665.9 BTC inflow to Binance—amounting to 0.03% of all Bitcoin in circulation—comes as more traders move their assets to safer havens. “The market is facing a convergence of economic uncertainty, increased regulatory oversight, and technical fatigue,” one analyst commented,
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.
You may also like
Bitcoin News Update: Bitcoin's Recent Decline: Can Institutional Investors Help Steady the Market or Intensify the Slump?
- Bitcoin's price drop below $85,000 has intensified debates as long-term holders offload over 400,000 BTC, per economist Peter Schiff's warning about "weak hands" deepening selloffs. - High-profile exits like Owen Gunden's $1.3B BTC liquidation highlight profit-taking by OGs, while institutions via ETFs have absorbed 2.39M BTC since 2024, per Ark Invest. - Market fragility worsens as gamma exposure forces dealers to sell near $85,000 support, but institutional demand could stabilize prices if buying conti
YFI Value Drops 4.78% Over the Past Week as Market Fluctuations Continue
- YFI rose 0.1% in 24 hours but fell 4.78% in seven days, with 14.2% monthly and 50% annual declines. - Price movements reflect broader market instability, not project-specific updates or governance changes in Yearn.finance. - Analysts predict YFI remains sensitive to macroeconomic trends and global investor sentiment in the near term. - Token consolidation continues without fundamental shifts, urging investors to monitor on-chain metrics and protocol updates.
Bitcoin News Today: Bitcoin Drops to $90K—Is This a Prime Buying Chance or the Start of a Deeper Downturn?
- Bitcoin fell below $90,000, pushing 70% of active capital into losses and erasing $120B in market value. - Short-term holders face >30% drawdowns, with fear metrics hitting 2-year lows as $1.9B in leveraged positions liquidated. - Analysts cite historical rebounds after extreme fear, but MicroStrategy's leveraged holdings risk further selling if prices drop. - Institutional actions and Fed policy uncertainty remain key factors, though oversold indicators suggest potential 40% near-term rebound.
Coast Guard Strengthens Prohibition of Hate Symbols to Combat Antisemitism and Extremist Activity
- U.S. Coast Guard reversed a policy to reclassify hate symbols like swastikas and nooses from "potentially divisive" to prohibited, following backlash from lawmakers and advocacy groups over antisemitism risks. - The reversal came after a leaked draft proposal aligned with Trump-era Pentagon directives, which critics argued weakened harassment definitions and accountability for hate incidents. - Coast Guard reaffirmed strict prohibitions on divisive symbols, emphasizing severe punishment for violations, b
Trending news
MoreCrypto prices
More
