Bitcoin Down 1.11% Amid Multi-Chain Expansion and Regulatory Proposals

Bitcoin Expands Cross-Chain Capabilities with Hashport Integration

Bitcoin.ℏ (BTC.ℏ) announced a pivotal integration with Hashport, a prominent interoperability network, to enable seamless cross-chain functionality. This collaboration allows BTC.ℏ to be transferred across major blockchain ecosystems, including Ethereum, Base, Polygon, BNB Chain, and Avalanche. The move marks a significant advancement for the quantum-resilient cryptocurrency, enhancing its liquidity, accessibility, and developer utility. By leveraging Hashport’s secure infrastructure, BTC.ℏ holders can now move their tokens across chains, opening new opportunities in decentralized finance (DeFi), gaming, and microtransactions.

A Vision for Borderless Digital Value

The partnership reflects the broader industry trend toward interoperability, where previously isolated blockchain networks are now interconnected. For BTC.ℏ, which emphasizes microtransactions and sustainability, this integration transforms it from a single-chain asset into a globally accessible digital currency. Developers on other networks can now integrate BTC.ℏ into their platforms, expanding its use cases beyond Hedera and into broader DeFi and Web3 ecosystems. The move aligns with BTC.ℏ’s mission to offer a low-energy, high-security alternative to traditional Bitcoin transactions, using Hedera’s hashgraph technology for efficiency.

Regulatory Shift: U.S. Proposes Tax Payments in Bitcoin

In a notable regulatory development, a U.S. House bill titled the “Bitcoin for America Act” has been introduced, allowing citizens to pay federal taxes in Bitcoin. The legislation ties tax payments directly to the Strategic Bitcoin Reserve, established by President Trump in 2025. The bill eliminates capital gains tax on BTC payments, incentivizing adoption by simplifying crypto tax compliance. Advocates argue that the move positions Bitcoin as a strategic national asset, offering inflation-hedging and long-term economic benefits. This proposal highlights the growing recognition of Bitcoin’s role beyond investment, signaling its integration into core government operations.

Institutional and Market Sentiment Diverge

Despite the positive developments, Bitcoin’s price continues to decline. As of Nov 22, 2025, BTC dropped 1.11% within 24 hours to $84,016.77, marking an 8.71% drop in seven days and a 23.2% decline over the past month. A major driver of this downturn includes record outflows from U.S. spot Bitcoin ETFs. BlackRock’s IBIT ETF alone reported a $355.5 million net outflow on Nov 21, according to Farside Investors. The broader ETF outflow totaled $3.79 billion in November, the largest on record, reflecting institutional caution amid macroeconomic pressures and market volatility.

Technical Indicators Signal Bearish Momentum

Technical analysis suggests that Bitcoin is entering a bearish phase. A confirmed “death cross,” where the 50-day moving average crossed below the 200-day moving average, has historically signaled the end of bull cycles. On-chain data shows $800 million in realized losses over the past week, with short-term holders contributing to the selloff. Analysts warn that without a swift rebound, prices could retest support levels near $74,500. Mike McGlone of Bloomberg, a longtime Bitcoin analyst, emphasized that the current decline is part of a broader market correction, noting parallels with past bear cycles in 2014, 2018, and 2022. He highlighted the $70,000 level as a critical support zone for BTC.

Whale Activity and Institutional Positioning

On-chain data also reveals intriguing positioning by large holders. A new whale deposited 1.7 million USDC into HyperLiquid to initiate a 20x leveraged long position on 104.36 BTC at an average price of $84,400.4. This move shows confidence in Bitcoin’s longer-term trajectory, despite the current bearish environment. The whale’s position is currently showing an unrealized profit of $43,000, with a larger account from the same holder having already earned $705,000 in gains. This activity suggests that while the short-term outlook is cautious, some institutional and high-net-worth players are betting on a potential rebound.

Conclusion: A Pivotal Moment for Bitcoin

Bitcoin’s recent performance reflects a complex interplay between technological advancements, regulatory shifts, and market sentiment. The integration with Hashport and the introduction of a U.S. tax bill signify growing institutional and strategic interest in Bitcoin. However, these developments must be weighed against ongoing bearish momentum in the market. As the crypto space continues to evolve, the ability of projects like BTC.ℏ to scale and adapt will be key to their success. For now, Bitcoin’s price trajectory remains uncertain, with both technical indicators and on-chain activity pointing to a potentially extended bearish phase.