Bitcoin has entered one of the most emotionally charged price zones of the year. After Cameron Winklevoss said levels below $90,000 may never return, the market immediately did what it always does: it tested that belief.
Within hours, Bitcoin slipped into the mid-$80,000 range, touching prices last seen over six months ago. From the macroeconomic surprise to the unwinding of leverage, this decline was not accidental. It was structural.
This is the last time you will be able to buy bitcoins below $90,000!
–Cameron Winklevoss (@cameron) November 18, 2025
So the question now is simple but crucial: is there still a decline to come, or is this the point of exhaustion?
The macro drag: strong employment data, low risk sentiment
Bitcoin’s decline came immediately after higher-than-expected U.S. employment figures reignited doubts about a December rate cut.
A more dynamic labor market means:
- The Fed could remain cautious
- Liquidity remains tight
- Risk assets (BTC included) are cooling
As the likelihood of a rate cut sharply decreased, Bitcoin followed. This was not a Bitcoin-specific event. It was a classic macro reaction. When liquidity expectations decline, the most speculative assets are hit first.
171,617 Bitcoins $BTC have been accumulated near $77,000, making it an important support zone. pic.twitter.com/3sXRUqsK9b
– Ali (@ali_charts) November 22, 2025
The Leverage Flush: $1.9 billion liquidated in a few hours
The biggest weight wasn’t macro. It was leverage.
Within four hours:
- Over $1.9 Billion in Crypto Positions Liquidated
- Nearly $1.78 billion were long positions.
- Bitcoin briefly dropped to $82,000 on some exchanges
- Altcoins fell 8-15% across the board
More than $1.9 billion has been liquidated across crypto markets in the past 24 hours, with the majority of that comprised of $1.80 billion in long positions. pic.twitter.com/wDo7SItXRo
– Gray BTC (@greybtc) November 21, 2025
Bitcoin has been falling since the cascading selloffs in early October, and this event has only added to that pressure. When traders accumulate too much leverage on bullish momentum, the market punishes excess. This has always been the case.
Bitcoin still dips just enough to make you think it’s finally over.
Just enough to make you panic and “protect your capital”.
Just enough to chase away tourists and pretenders.
And just when everyone gives up…
this sends a face-melting knockdown.Face it.
– Brian Rose, founder and host of London Real (@LondonRealTV) November 21, 2025
Options Data Shows Fear, But Fear Can Mark Funds
In derivatives markets, traders rushed to protect themselves:
- The probability of Bitcoin ending the year below $90,000 has increased to 50%
- Calls (bullish bets) have been abandoned
- Puts (bearish bets) are gone
- 30-day implied volatility jumped 41% → 49%
- Sell bias has declined sharply, showing traders are paying for downside insurance
According to @Polymarchéthere is a 69% chance that Bitcoin will fall below $90,000 by the end of the year.
BITCOIN = A HIGHLY SPECULATIVE ASSET WITH ZERO FUNDAMENTAL VALUE.
IN MY OPINION, BETTERS ON POLYMARKET ARE VERY OPTIMISTIC. pic.twitter.com/6sq3QzFJDB
-Steve Hanke (@steve_hanke) November 15, 2025
This is classic fear behavior.
$BTC Every day
Huge volume and Bears failed to advance the ball.
If there is a decent recovery tomorrow, then the bottom will probably be there for a while. pic.twitter.com/bbBd4HKVCM
– The wolf of all streets (@scottmelker) November 21, 2025
But historically, extreme moments of sell bias often signal late-stage selling pressure. When everyone hedges at the same time, it usually means that most sellers have already sold.
Chain sentiment: oversold, but with caution
Some analysts say the situation is moving from panic to opportunity.
Key observations:
- Oversold signals are flashing
- Forced sellers have already been flushed out
- Bitcoin is trading below its 50 and 200 day moving averages (rare but temporary in bull cycles)
- Followers of the trend have withdrawn, often a sign of marked rebounds.
A Market Without Whales: Retail Fatigue Pushes Bitcoin Into Deeper Decline
“Unless significant institutional demand returns or retail participation significantly recovers, Bitcoin will likely remain under pressure.” – By @EgyHashX pic.twitter.com/6RRc3g8m3S
– CryptoQuant.com (@cryptoquant_com) November 21, 2025
In short, structurally, Bitcoin is weakened, but not broken.
I’m old enough to remember when Bitcoin went from $65,000 to under $30,000 in 30 days in 2021 – it’s still remembered as one of the most bullish years in crypto history. A 55% drawdown in the middle of a bull market.
It went back up to $69,000. pic.twitter.com/re2qXDzWTy
– The wolf of all streets (@scottmelker) November 21, 2025
How about a drop to $75,000?
Some analysts say Bitcoin could fall further to around $75,000 if tech stocks start to fall or the macroeconomic outlook becomes more fragile. If crypto and AI stocks panic at the same time, we could see one last sharp decline.
But even the bears recognize it: If BTC reaches this zone, it becomes a deep value zone, likely attracting aggressive buyers, institutional flows, and ETF inflows.
The market may trend downward, but it historically rebounds quickly thanks to these pockets of liquidity.
Bitcoin: $110,000 → $83,000. I called him in October while everyone was waiting for ATHs
Other disadvantages are likely. Expect $70,000 or less, before the first and second quarters of 2026 recover
For context: I predicted a drop to $80,000, while others were optimistic. The data showed weakness (👉)…
-Ashish (@a_gangrade) November 21, 2025
Why this might actually be the turnaround zone
Despite the carnage:
- Spot ETFs continue to attract long-term buyers
- Corporate shareholders (like MicroStrategy) remain unfazed
- Stablecoins remain well anchored
- Macroeconomic uncertainty is temporary and not systemic
- The History of Long-Term Bitcoin Adoption Has Not Changed
Response to the MSCI Index case
Strategy is not a fund, trust or holding company. We are a publicly traded operating company with a $500 million software business and a unique treasury strategy that uses Bitcoin as productive capital.
This year alone we completed…
-Michael Saylor (@saylor) November 21, 2025
And above all: Periods of billion-dollar-plus liquidations almost always precede sharp mean-reversion movements.
Pangs of fear. Volatility spikes. Sellers are exhausted. Shoppers hiding on the sidelines finally get their way in.
Currently $BTC levels, we have 71 years of dividend coverage assuming the price remains stable. And any $BTC appreciation in excess of 1.41% per year fully offsets our annual dividend obligations. pic.twitter.com/ohN9dctpyv
– Strategy (@Strategy) November 20, 2025
So, has Bitcoin reached its lowest level?
A top analyst never gives a price prediction. But we evaluate the probabilities.
Right away:
- Short-term disadvantage: still possible, especially around $80,000 – $75,000
- Medium-term outlook: neutral to bullish
- Long-term trend: unchanged and extremely positive
Source:
The question is not whether Bitcoin can fall another 5-10%. The real question is: Are we closer to the end of the decline or the beginning?
PRACTICE WHAT I TEACH:
I sold $2.25 million worth of Bitcoin for around $90,000.
I bought Bitcoin for $6,000
a piece years ago.With Bitcoin money, I buy two surgical centers and invest in a Bill Board company.
I estimate my $2.25 million…
– Robert Kiyosaki (@theRealKiyosaki) November 21, 2025
Based on leverage reset, oversold signals, approaching macroeconomic clarity and sentiment capitulation; we are much closer to the end.
Final Insight: Volatility is noise. Direction is a signal.
Cameron Winklevoss may or may not be right about “last time under $90,000.”
But here’s what matters:
- Bitcoin is going through a transition towards a liquidity reset, not a structural breakdown.
The drop seems serious because it happened quickly and violently.
But the data shows that the market eliminates weak hands, without losing long-term conviction.
Stay humble and stack the sats. $BTC pic.twitter.com/cWcJvolNHo
– Strategy (@Strategy) November 20, 2025
Whether Bitcoin drops or falls slightly, the broader trend remains intact: Bitcoin continues to act as an institutional asset in a macro-driven world. Withdrawals are part of the process. Momentum, adoption and capital flows are still trending upward. This is not the collapse phase. This is the reset phase.
Disclaimer
The information provided by Altcoin Buzz does not constitute financial advice. It is intended for educational, entertainment and informational purposes only. Any opinions or strategies shared are those of the editors/reviewers, and their risk tolerance may differ from yours. We are not responsible for any losses you may incur as a result of investments related to the information provided. Bitcoin and other cryptocurrencies are high-risk assets; therefore, perform thorough due diligence. Copyright Altcoin Buzz Pte Ltd.
