BAF NEWS

Bitcoin Falls Below $90,000

Bitcoin’s slide finally cracked a psychological floor. On Nov. 18, it fell below $90,000 for the first time since April, nearly 30% below an October peak above $126,000, according to available reports from Reuters and Bloomberg.

However, the breach didn’t last. By late morning, prices had already steadied, trimming losses as sellers paused.

Drivers of the Selloff, Here’s the twist

Traders pointed to lingering uncertainty over U.S. interest rate cuts. Consequently, investors moved to de-risk into cash and safer assets, pressuring crypto across the board, Reuters reported.

Here’s the twist: some of the pain came from within crypto. As one market lawyer put it, “The cascading selloff is amplified by listed companies and institutions exiting their positions…,” compounding contagion risks.

Moreover, sentiment was already fragile after October’s leverage wipeout. As a result, bid depth thinned and swings accelerated.

Wider Crypto Market Impact, It’s bigger than BTC

The damage isn’t just Bitcoin. About $1.2 trillion has been wiped from the total value of all cryptocurrencies over the past six weeks, according to CoinGecko data cited by Reuters.

Consequently, liquidity pockets narrowed across majors and altcoins. Yet forced selling appears to be easing as funding rates reset.

Declines in Crypto-Linked Stocks, The spillover

As crypto fell, the pain hit equities tied to the sector. Strategy, Riot Platforms, Mara Holdings, and Coinbase all traded lower alongside Bitcoin, per Reuters.

Additionally, options markets signaled nerves around crypto-exposed balance sheets. Still, volumes suggested disciplined de-risking rather than outright panic.

Performance of Other Major Cryptocurrencies, Ether’s slide

Ether hasn’t been spared. It has lost nearly 40% from an August peak above $4,955, Reuters reported.

Even so, prices later stabilized near $3,112 during the U.S. session. Notably, intraday strength hinted at dip-buying after the worst forced unwinds.

Global Market Context, Risk-off goes global

This wasn’t a crypto-only story. Japan’s Nikkei dropped about 3.22% on Nov. 18, with broader Asia also red, Reuters noted.

Meanwhile, valuation worries and caution ahead of major earnings weighed on equities worldwide. Therefore, cross-asset correlations flared as investors trimmed risk.

Bitcoin’s Partial Rebound, A quick reset

After dipping below $90,000, Bitcoin rebounded quickly. Later in the day, it traded roughly between $92,886 and $93,600, according to Reuters and AP.

Crucially, the bounce arrived as sellers stepped back and funding normalized. Still, technicians warn that overhead resistance remains heavy.

Institutional Accumulation Amid Volatility, You might be surprised

What no one is mentioning: some big players are still buying. Strategy added 8,178 BTC, according to founder Michael Saylor’s disclosure.

Moreover, the firm’s holdings stood at 649,870 tokens at an average cost of about $74,433 per bitcoin as of Sunday, Reuters reported. Consequently, the company’s conviction offers a counter-signal to the panic narrative.

Yet that doesn’t guarantee a floor. While accumulation can steady prices, macro drivers still dominate the tape.

What to watch next

First, watch policy expectations. If rate-cut odds firm, risk appetite could stabilize.

Second, track crypto equity flows. Because balance-sheet exposure magnifies swings, equities often front-run the next crypto move.

Finally, monitor ETH and broader liquidity. If spreads tighten and funding normalizes, volatility should compress.

In short, Bitcoin’s break and snap-back showed a market still ruled by macro tides. But under the surface, strategic buyers are quietly adding size.