Subscribe to our Telegram channel
Bitcoin plunged to a six-month low
For the first time since April 2025, Bitcoin BTC $90,528.00 Mezo Wrapped BTC -4.62% Market capitalization $45.96 million VOL. 24 hours $4.86 billion has fallen below $ 90,000 — the flagship of the crypto market has dropped to $ 89,570. This marks the end of a period of stable support that has lasted since late April. The fall occurred amid outflows from exchange-traded funds (ETFs), a weakening market structure, and general economic pressure, which significantly affected investor sentiment.
According to Glassnode analyst Sean Rose, the average volume-weighted investment value of all spot bitcoin ETFs is about $ 89,600. As the price of BTC has fallen below this level, all investors in such funds — both retail and institutional — are now experiencing unrealized losses for the first time since the launch of these products.
on November 17, several large ETFs recorded significant capital outflows. BlackRock (IBIT) lost $ 145 million, Fidelity (FBTC) — $ 12 million, Bitwise (BITB) — $ 9.5 million, ARK 21Shares (ARKB) — $ 29.7 million, VanEck (HODL) — $ 23.3 million, and Grayscale GBTC — $ 34.5 million. The total net outflows amounted to $ 254.6 million, which is the largest sales volume among US bitcoin ETFs since the summer. Analysts attribute this to the fact that most investors bought the asset when its price exceeded $ 100,000.
On the daily chart, bitcoin lost support in the range of $ 92,000-$ 94,000, which was held from May to October. During the drop, trading volumes increased sharply, indicating massive liquidation of positions. The next liquidity zone is between $ 86,000 and $ 88,000, a level that was resistance in April and support in May.
The key levels for further observation are $ 90,500-$ 92,000. Their recovery may indicate market stabilization. If the BTC price fails to stay above $ 88,000, it may further decline to $ 84,000-$ 86,000. The drop below $ 90,000 has become an important psychological moment that tests investors' risk appetite and may affect market dynamics by the end of the year.