Ethereum News Today: Bitcoin's $98K Slide: Macro Woes Fuel Sell-Off, Institutional Buys Hint at Resilience

Bitcoin Price Drops Below $98K Amid Heavy Long-Term Holder Selling

Bitcoin fell below $98,000 on November 14, 2025, marking its first drop to this level since May, as heavy selling from long-term holders and institutional outflows exacerbated market volatility. The decline came amid a broader selloff in crypto assets, with Ethereum (ETH) sliding over 8% to $3,500 and Solana (SOL) and Cardano (ADA) following suit. Over $1 billion in leveraged positions were liquidated in 24 hours, including a $44 million long BTC position on HTX, according to Coindesk.

The sell-off was driven by renewed macroeconomic uncertainty, including fading hopes for a December Federal Reserve rate cut and weak economic data from China. Industrial production in China slowed to 4.9% year-on-year in October, while fixed-asset investment contracted 1.7% in the first ten months of 2025. These developments triggered a risk-off sentiment across global markets, with Asian equities and crypto assets falling in tandem.

Institutional crypto funds also contributed to the downturn, with U.S. spot Bitcoin ETFs recording $1.22 billion in outflows last week-the third-largest weekly withdrawal on record. Ethereum ETFs saw $508 million in redemptions, while Solana ETFs bucked the trend with $137 million in inflows according to the same report. Analysts from Bitfinex described the correction as a "mid-cycle consolidation phase" rather than the end of the bull market, noting that prior retracements since 2023 had averaged 22% from all-time highs before reversing.

Ethereum's struggles were compounded by structural fragility in its futures markets, where leveraged positions unwound violently after breaking below $3,300. The collapse exposed vulnerabilities in ETF liquidity, as U.S. spot ETH funds continued to leak supply, amplifying downward pressure. Meanwhile, BitMine Immersion Technologies added to its ETH treasury, purchasing 110,288 tokens at $3,639 apiece, signaling continued institutional confidence in Ethereum's long-term potential.

Technical indicators painted a bearish picture for Bitcoin, with the 50-day simple moving average (SMA) nearing the 200-day SMA-a potential "death cross" pattern. The rejection at former support-turned-resistance levels and a weakening RSI suggested short-term momentum favored further declines. However, some analysts cautioned against overreacting to the dip, noting that Bitcoin's 22% retracements in previous cycles had historically been followed by recoveries.

The market's divergence from gold highlighted shifting risk preferences. While crypto assets weakened, gold and silver surged 4% and 9%, respectively, as concerns over global fiscal health-particularly in the U.S. and Eurozone-pushed investors toward traditional safe havens according to market analysis. Robin Brooks of the Brookings Institution attributed the gold rally to "profoundly broken fiscal policy," noting that Japan's debt-to-GDP ratio exceeded 220% and the U.S. stood above 120% as reported.

Prediction markets reflected deep uncertainty, with Myriad users pricing a 65% chance Ethereum would hit $4,000 before retreating to $2,500, while a separate market gave ETH a 79.1% probability of failing to reach $5,000 by year-end according to market data. Whale activity, however, suggested long-term optimism, as large holders accumulated over 1.64 million ETH in October despite the price decline as reported.

The immediate focus for Bitcoin is support near $94,000, with a break below $98,000 likely to trigger further selling. For Ethereum, the Fusaka upgrade on December 3-which introduces scalability improvements like Verkle Trees-could provide a catalyst for a rebound according to technical analysis. Until then, the market remains in a fragile equilibrium, with macroeconomic stability and ETF flows poised to determine the next major directional move.