Bitcoin slides below $90,000, lowest since April; Why is crypto market falling?
Bitcoin price dropped as low as $89,426 on November 18, and continued to hover just above $90,000, down more than 30 percent from its October high of $126,000. The fear of crypto’s price sliding to $80,000 levels have increased fueled by offset selling from new entrants.
The continued decline in the price of the world’s largest cryptocurrency means that it has wiped out all its gains since the start of 2025. Bitcoin is down more than 5.3 percent from yesterday’s close, and is the lowest since April 2025 when it declined just below $75,000.
"Bitcoin fell below $90,000 for the first time in seven months, influenced by factors such as uncertainty around potential US interest rate cuts, broader negative equity market sentiment, and large holders reducing their positions. While some point to death cross, similar patterns in the past have also preceded recoveries. Overall, the movement reflects a period of short-term volatility across markets. For some participants, the pullback may also be viewed as an opportunity to accumulate at lower levels," said "Ashish Singhal, Co-founder, CoinSwitch.
The fall of Bitcoin’s price has impacted other major cryptocurrencies, with Ethereum down by 5.6 percent, XRP by 3.8 percent, Binance Coin by 3 percent, and Solana by 3.2 percent in the last 24 hours.
"Bitcoin is falling not because its fundamentals have deteriorated. It is falling because global markets have swung into a classic risk-off phase. Let us acknowledge that in barely a month, the price has slid almost 30% from the October peak near $126,000 to the mid-$90,000s. The drop has erased this year’s gains even as investors are trying to digest stickier US rates and a broader de-rating of risk assets," said by Vikram Subburaj, CEO, Giottus.com
At the same time, spot ETFs that were the hero of the last leg up have turned into a source of friction. Roughly $2.8 billion has flown out over the past month and that has removed an important layer of steady demand.
“Bitcoin, along with the broader crypto market, continues to trend lower as retail investors await a catalyst. However, institutional conviction remains strong, with Strategy’s recent purchase of 8,178 Bitcoin worth $835 million helping offset selling from new entrants and ETF-driven pressure. At the same time, on-chain data also shows rising activity from short-term holders, a pattern often seen near market bottoms,” said Edul Patel, CEO of Mudrex.
Citing data from Coinbase-owned Deribit, Bloomberg reported that the shift in sentiment has been swift and sharp, and that the crypto’s price sliding to $90,000, $85,000 and $80,000 levels have increased.
“Historically, such phases have led to strong reversals, suggesting that a shift in momentum may be approaching. For now, BTC has taken support at $89,500 and is attempting to stabilize at these levels. Sustained buying at this level could push prices toward the $93,000–$95,000 zone. On the downside, a move towards $85,000 cannot be ruled out,” said Patel.
Crypto is an unregulated asset in India and is known for high volatility in prices. So, one should enter only after knowing the underlying risks. "The prudent approach is to respect volatility, avoid leverage, and use systematic rupee-cost averaging rather than trying to guess the exact bottom. If your time horizon is measured in halvings, not headlines, this drawdown is a reminder that Bitcoin pays those who can stay solvent and unemotional in a fluctuating market," said Subburaj.