Bitcoin Price Drops 10% as Michael Saylor Hints at New Buying

Bitcoin’s price fell 10% over the past week and a fraction of a percent over the past 24 hours to trade at $94,986 as of 2:37 a.m. EST on trading volume that soared 59% to $78.2 billion.

This comes as Michael Saylor hinted at another Bitcoin purchase from Strategy (MSTR) this week. Saylor posted to X with the words “Big Week” and a portfolio chart, which usually indicates a plan to buy more BTC.

In the article, Saylor included a chart showing that Strategy now has approximately 641,692 BTC in its treasury, valued at $61 billion.

Week ₿ig pic.twitter.com/a27eg6Kw4v

-Michael Saylor (@saylor) November 16, 2025

The new purchase would come at a time when the market is going through a volatile period after falling below the psychologically important $100,000 level.

Spot Bitcoin ETFs (exchange-traded funds) saw a net outflow of $1.11 billion last week, marking the third consecutive week of releases, according to SoSoValue data.

Peter Schiff predicts Strategy’s bankruptcy

In another development, Bitcoin permabear Peter Schiff said the strategy is a “fraud” that will eventually go bankrupt.

Schiff’s position stems from concerns about the company’s financial stability amid continued volatility.

MSTR’s entire business model is a fraud. Saylor and I will both be speaking at Binance Blockchain Week in Dubai in early December. I challenge @saylor discuss this proposal with me. Regardless of what happens to Bitcoin, I believe $MSTR will eventually go bankrupt. Let’s go!

-Peter Schiff (@PeterSchiff) November 16, 2025

Schiff also continues to warn people to buy BTC. “I warn people who don’t own Bitcoin not to buy it, and I advise those who do to get out of it before the final crash,” he said.

Bitcoin price consolidates around the $95,000 zone – a breakout imminent?

Over a 4-hour time frame, analysis of the BTC/USD chart shows that the BTC Price saw a sustained rise in October to reach the all-time high of $126,080 (ATH).

However, the bulls were unable to maintain this level as the bears took matters into their own hands, driving the price into a descending channel pattern. The sustained decline saw Bitcoin price fall below the $100,000 level, reaching around $93,000.

Currently, the bulls are targeting a breakout, with Bitcoin price now consolidating between $94,000 and $95,000, as they eye a recovery.

Due to the downtrend in recent weeks, BTC is now trading below the 50-day ($100,231) and 200-day simple moving averages (SMA) ($106,450), supporting the overall bearish stance.

Meanwhile, the relative strength index (RSI) after Bitcoin rose from the $94,000 area appears to be recovering from the oversold level of 30 to the current level of 39. This level still shows that BTC bulls need sustained buying pressure to regain control and push the price back above $100,000.

According to the analysis, BTC appears to be consolidating at the $95,000 level. Rising RSI could signal renewed interest and bulls buying the low.

If Bitcoin price recovers and breaks out of the $95,500 zone, the next key resistance levels and targets could be the 50-day and 200-day SMAs of $100,231 and $106,450, respectively.

Conversely, if bearish pressure persists within the descending channel, Bitcoin could fall back to the channel’s lower boundary, around $91,700, in the coming days.

This outlook is supported by analyst Scott Melker, with over 1 million followers, who notes that Bitcoin closed below 50 MA on the weekly chart, which is a major bearish indicator.

Bitcoin closed below 50 MA on the weekly chart.

This has always been a bear market indicator – every time for 15 years.

Maybe this time is different?

– The wolf of all streets (@scottmelker) November 17, 2025

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