Bitcoin has entered a volatile stretch in mid-November 2025, marked by a sharp downward correction and growing uncertainty among investors. After touching an all-time high above $125,000 in early October, BTC has plunged nearly 30%, dropping below $90,000 for the first time in about seven months — a move that’s rattled market sentiment.
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Macro Backdrop & Liquidity Risks
The sell-off in Bitcoin is being driven by macroeconomic headwinds. The recent U.S. government shutdown has drained crucial liquidity from markets, adding pressure to risk assets like crypto.
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At the same time, investors are growing wary of the timing and scale of potential Federal Reserve rate cuts, compounding uncertainty.
Reuters
Institutional Flows and ETF Dynamics
On-chain and fund flow data offers some mixed signals. Institutional interest is still present: large players continue to use ETFs to gain exposure to Bitcoin.
AInvest
But inflows haven’t been stable — recent ETF outflows have underscored how sensitive this demand is to macro risk.
AInvest
Long-term holders are also shifting behavior: data suggests a notable uptick in selling from these traditionally more steadfast investors, which could indicate wavering conviction.
MarketWatch
Seasonal Patterns Under Debate
Historically, November has often been a strong month for Bitcoin. Some analysts note that if seasonality holds, BTC could see a rebound — past Novembers have averaged +40% gains.
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So while seasonality is in Bitcoin’s favor, it’s not a guaranteed accelerator.
Technical View
From a technical perspective, Bitcoin has lost several key support zones during its drop. There’s growing risk that, if sentiment doesn’t improve, it could revisit much lower levels — $75,000 is being mentioned by some analysts as a potential next support if the decline continues.
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