{"id":91258,"date":"2025-11-21T10:41:02","date_gmt":"2025-11-21T07:41:02","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=91258"},"modified":"2025-11-21T10:48:26","modified_gmt":"2025-11-21T07:48:26","slug":"fear-and-panic-bitcoin-falls-below-85000-for-the-first-time-since-april","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/fear-and-panic-bitcoin-falls-below-85000-for-the-first-time-since-april\/","title":{"rendered":"Fear and panic: Bitcoin falls below $85,000 for the first time since April"},"content":{"rendered":"

Over the past 24 hours, the price of the leading cryptocurrency fell 7% to about $84,000\u2014its lowest since April.<\/p>\n

\"\u0421\u043d\u0438\u043c\u043e\u043a
Hourly BTC\/USDT chart on Binance. Source: TradingView<\/a>. <\/figcaption><\/figure>\n

Ether dropped 8.1% to $2,700.<\/p>\n

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Hourly ETH\/USDT chart on Binance. Source: TradingView<\/a>.\u00a0<\/figcaption><\/figure>\n

All top-ten cryptocurrencies by market capitalisation were in the red. The steepest losses were in Solana<\/a> (-8.7% over 24 hours) and XRP<\/a> (-7.9%).<\/p>\n

\"image\"
Source: CoinGecko<\/a>.\u00a0<\/figcaption><\/figure>\n

Liquidations topped $955 million, mostly in long positions at $836 million.<\/p>\n

\"image\"
Source: CoinGlass<\/a>.\u00a0<\/figcaption><\/figure>\n

November 2025 is shaping up to be one of the worst months for \u2018digital gold\u2019. Since the start of the month, the asset has dropped 21.6%. Ether shows a similar pattern, down more than 27% over the same period.<\/p>\n

\"image\"
Source: CoinGlass<\/a>.\u00a0<\/figcaption><\/figure>\n

A popular market-sentiment gauge remains in \u201cextreme fear\u201d, signalling uncertainty and panic among investors.<\/p>\n

\"image\"
Source: Alternative.me<\/a>.\u00a0<\/figcaption><\/figure>\n

ETFs<\/h2>\n

Amid the latest broad correction, spot bitcoin ETF<\/a>s saw $903 million of outflows\u2014the second-worst tally since the instruments launched in 2024. The record was set in February, when outflows exceeded $1 billion.<\/p>\n

\"image\"
Inflows and outflows for spot bitcoin ETFs. Source: SoSoValue<\/a>.\u00a0<\/figcaption><\/figure>\n

On November 19, the bitcoin funds attracted $75 million, breaking a five-day negative streak.<\/p>\n

Ethereum-focused products continued to register outflows for an eighth straight day, losing $261 million in the past 24 hours.<\/p>\n

\"image\"
Inflows and outflows for spot Ethereum ETFs. Source: SoSoValue<\/a>.\u00a0<\/figcaption><\/figure>\n

XRP ETFs from Canary and Bitwise attracted<\/a> $118 million. Solana funds reported<\/a> total inflows of $23 million.<\/p>\n

What drove the sell-off<\/h2>\n

Kronos Research\u2019s chief investment officer, Vincent Lyu, noted<\/a> that the correction is linked to stronger-than-expected US employment data<\/a> for September. The figures were due in early October but were delayed by the government shutdown.<\/p>\n

The economy added 119,000 jobs\u2014the biggest jump since December. Unemployment rose to 4.4%. However, this reflects increased labour supply.<\/p>\n

According to the executive, the report reduced expectations of a rate cut by the Fed<\/span> in December. The central bank will have to decide on the basis of less current data\u2014October and November are missing from the statistics.<\/p>\n

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\u201cLiquidity remains low, and short-term profit taking exacerbates the move. The market is repricing risks in response to macro data,\u201d Lyu added in a comment.\u00a0<\/em><\/p>\n<\/blockquote>\n

Investors now put the odds of policy easing at 35.4%. At the start of the month, that stood at 98%.<\/p>\n

\"image\"
Source: CME FedWatch<\/a>.\u00a0<\/figcaption><\/figure>\n

If the Fed forgoes a key rate cut, \u2018digital gold\u2019 risks<\/a> sliding to $60,000, according to XWIN Research analysts.<\/p>\n

Even so, LVRG\u2019s research director Nick Ruck said the crypto-market decline is a \u201chealthy repricing of overstretched positions\u201d that built up during the previous rally.<\/p>\n

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\u201cBlockchain data show stabilisation of selling pressure in spot and futures markets\u2014this indicates the capitulation phase is almost over,\u201d he said.\u00a0<\/em><\/p>\n<\/blockquote>\n

The drop in the Nasdaq Composite, which tracks large technology stocks, added to the gloom. Despite a strong Nvidia quarterly report<\/a>, the gauge fell 4%, prompting an exodus from risk assets.<\/p>\n

Investors are uneasy about the rapid rise in AI-related spending. Lately, many point<\/a> to signs of overheating in this corner of the market. Billionaire Ray Dalio told CNBC that<\/a> the market is not yet on the verge of a crash but is \u201calready in bubble territory\u201d.<\/p>\n

Analysts at JPMorgan<\/a> reckon the correction is driven mainly by retail selling via spot bitcoin and Ethereum ETFs.<\/p>\n

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\u201cIf October\u2019s market decline was the result of aggressive deleveraging by crypto traders via perpetuals, that process ended in November. Further losses were driven by traditional investors\u2014mostly retail\u2014who use spot exchange-traded funds to access the crypto market,\u201d said Nikos Panigirtzoglou.\u00a0<\/em><\/p>\n<\/blockquote>\n

\u201cThe best thing that could happen to Bitcoin\u201d<\/h2>\n

Veteran trader Peter Brandt said the first cryptocurrency will not reach $200,000 by year-end. He believes it will take at least four years to get there.<\/p>\n

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Full disclosure folks
Of my maximum ever Bitcoin position I still own 40%, at a price 1\/20th of Saylor’s avg buy.
I am a long-term bull on Bitcoin. This dumping is the best thing that could happen to Bitcoin. The next bull market in Bitcoin should take us to $200,000 or so. That\u2026<\/p>\n

\u2014 Peter Brandt (@PeterLBrandt) November 21, 2025<\/a><\/p><\/blockquote>\n