Bitcoin News Today: Bitcoin's $90K Crossroads: Breakout or Breakdown?

Bitcoin's price rebound has gained momentum as the cryptocurrency trades near critical resistance levels, with analysts closely watching whether it can break above the $90,000 threshold to signal a potential recovery. After hitting a seven-month low below $90,000, Bitcoin (BTC) has shown signs of stabilization, though challenges persist from thin liquidity, ETF outflows, and shifting miner behavior according to market reports.

The recent slump saw Bitcoin dip to $89,090, with a 4% drop over 24 hours and $71 billion in trading volume, according to Bitcoin Magazine. The decline dragged down crypto-linked stocks, including Coinbase Global (-4.9%) and Bitfarms (-7.5%), as market sentiment weakened. A major driver of the sell-off was BlackRock's spot Bitcoin ETF, IBIT, which recorded a record $523 million in outflows on Nov. 18—its largest single-day withdrawal since its January 2024 launch. This marked the fifth consecutive day of redemptions, with total outflows exceeding $1.4 billion in November. Analysts noted that the average investor purchase price for IBIT is around $90,146, leaving many underwater at current levels.

Bitcoin miners have begun adjusting to the volatility, shifting from heavy selling to modest accumulation over the past 30 days following recent capital raises. This suggests miners are opting to hold mined BTC rather than liquidate immediately, a sign of growing confidence in the asset's long-term value. However, liquidity remains a key concern. Nicolai Søndergaard of Nansen highlighted that market depth has dropped 30% since a major October liquidation event, making even small sell orders capable of triggering sharp price declines, especially with leveraged positions in play.

Technical analysis paints a mixed picture. Bitcoin is currently testing a key resistance zone near $89,000–$90,000, with a breakout potentially leading to a move toward $91,750 and beyond. Conversely, a failure to clear this level could see the price retest support at $85,000 or even $82,000, according to Coinpedia and Invezz. The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators remain bearish, with the latter crossing into negative territory on weekly charts—a pattern historically associated with the end of bull cycles. CCN.com analysts warned that Bitcoin's recent close below its 50-week moving average—a key technical benchmark—further reinforces the bearish outlook, drawing parallels to past market tops in 2021 and 2022.

Long-term fundamentals, however, remain intact. According to market analysis, institutional participation and ETF structures continue to underpin Bitcoin's market value, which stands at $1.78 trillion despite the recent turbulence. Traders are also monitoring liquidity clusters at $97,000–$98,000 and $85,000, with a breakout above $93,000 seen as crucial for flipping momentum higher.

The path forward hinges on several factors. If Bitcoin stabilizes near $90,000, it could attract long-term buyers viewing current levels as attractive entry points. However, a sustained breakdown below $85,000 risks reigniting a bearish trend that could extend into 2026, as suggested by historical cycles and macroeconomic pressures. For now, the market remains in a delicate balancing act, with ETF flows, miner behavior, and technical indicators all shaping the next chapter in Bitcoin's volatile journey.