Bitcoin News Today: Bitcoin's $90K Slide Sparks Debate: Bear Market Correction or Buying Opportunity?

Bitcoin briefly slipped below $90,000 on Nov. 18, marking its lowest level in seven months, as a death cross technical pattern and shifting macroeconomic expectations fueled a broader crypto sell-off. The decline erased all of 2025's gains, with the digital asset now trading at approximately $91,300, down 28% from its October peak of $126,000. The move triggered over $1 billion in liquidations, with Bitcoin accounting for nearly 55% of the losses, while the fear and greed index plummeted to 11, signaling extreme market anxiety.

The selloff was exacerbated by uncertainty around the Federal Reserve's potential December rate cut, which had seen its probability drop from 70% to 42% in a week, according to market maker Wintermute. Analysts attributed the drop to a combination of "stickier" inflation concerns, reduced institutional demand, and ETF outflows. Spot Bitcoin ETFs, which had driven much of the year's momentum, saw $2.8 billion in net outflows in November alone, with the average cost basis for ETF investors now at $89,600-just above Bitcoin's intraday low.

Despite the broader decline, several altcoins bucked the trend. ICP (Internet Computer) surged 15% to over $5.60, HYPE (HYPE) rose past $40, and ASTER (ASTER) gained 7.5%, reaching $1.30. These gains contrasted with losses across major tokens like Ethereum (-5.6%), XRP (-3.8%), and Binance Coin (-3%) according to market analysis. "While most altcoins followed Bitcoin's downward trajectory, a few smaller tokens have emerged as accumulation opportunities," said Edul Patel of Mudrex, noting on-chain activity from short-term holders often signals market bottoms.

The drop has reignited debates about Bitcoin's long-term prospects. Cameron Winklevoss warned on X that "this is the last time you'll ever be able to buy Bitcoin below $90k," while others like Adam Kobeissi of The Kobeissi Letter called the correction a "routine" bear market phase. Meanwhile, institutional activity remains mixed: BlackRock's IBIT ETF, the largest Bitcoin ETF, saw its top holders-including Goldman Sachs-engaged in arbitrage strategies rather than long-term bullish bets, according to BitMEX co-founder Arthur Hayes. He argued that ETF inflows earlier in the year were driven by basis trades exploiting yield differentials, not genuine conviction.

Market observers remain split on the near-term outlook. While ING noted rising open interest in bullish U.S. Treasury bond options-a potential precursor to dollar weakness-others caution that Bitcoin's path to recovery depends on stabilizing retail sentiment and macroeconomic clarity. For now, the cryptocurrency's dominance has fallen below 57%, with analysts watching for a sustained rebound above $93,000 as a key inflection point.