Bitcoin -1.42% as Realized Losses, Death Cross Signal Bearish Pressure

Bitcoin dropped 1.42% within 24 hours to $93,899.82 on November 16, 2025, marking its eighth consecutive week of losses with a 8.54% decline and a 14% drop over the past month. The cryptocurrency tested support levels around the $90,000–$95,000 range amid ongoing selling from long-term holders. On-chain data revealed that realized losses for BTC reached $722 million, echoing similar patterns observed in 2024 and early 2025 during major corrections. This selling pressure appears to be intensifying as the market remains fragile, with BTC trading within a $35,000 to $125,000 range since the start of the year.

Bitcoin’s technical indicators point to increased bearish sentiment. The 50-day moving average is on the verge of crossing below the 200-day moving average, a bearish signal known as a “death cross.” This crossover has historically coincided with local market bottoms in previous cycles, though its predictive power has been limited in the short term. According to recent data, 55 death-cross events were identified on BTC between January 1, 2022, and November 16, 2025. The average 1–6-day performance following such events was negative but statistically insignificant, suggesting the signal lacks immediate reliability. However, from the seventh day onward, returns trended positive, albeit without strong statistical significance, indicating that medium-term rebounds are common but not deterministic.

Bitcoin dominance in the crypto market has increased by 0.29% to 59.20%, reflecting the broader market’s bearish sentiment as 75% of coins lost value over the past 24 hours. Meanwhile, retail investor sentiment has deteriorated, with social media discussion volume surging to a four-month high in early November. Analysts note this surge may reflect heightened fear and uncertainty among retail traders, who are increasingly vocal about market uncertainty. Despite this, institutional investors remain active, with MicroStrategy adding 487 BTC in a single day and maintaining a total holding of 641,692 BTC valued at over $65 billion.