Bitcoin News Today: Bitcoin's $94K Defense: Long-Term Accumulation vs. Short-Term Selling Frenzy

Bitcoin's Price Predictions: A Dance with Dollar Liquidity

Bitcoin's price has entered a bear market, declining over 20% in a month and trading near $96,500 as of late November 2025, driven by macroeconomic risks. The cryptocurrency has failed to hold the $100,000 psychological level for the second time this month, triggering a sharp selloff that has pushed the Fear & Greed Index to a nine-month low of 10, signaling "extreme fear" among investors. Analysts attribute the downturn to a confluence of factors, including profit-taking by long-term holders, reduced institutional demand, and geopolitical uncertainties.

The sell-off has been exacerbated by record outflows from Bitcoin exchange-traded funds (ETFs). BlackRock's IBIT alone saw $463 million in redemptions on November 14, the largest single-day withdrawal in its history, while global crypto ETPs lost $2 billion in the week ending November 15-the worst performance since February 2025. U.S. funds accounted for 97% of these outflows, reflecting heightened risk aversion amid fading hopes for Federal Reserve rate cuts in December. "The market is going down, and ETFs naturally see outflows as investors take money off the table," said Nicolai Sondergaard of Nansen.

Despite the turmoil, some industry leaders remain bullish. Michael Saylor, CEO of MicroStrategy, denied reports of his company selling Bitcoin and reiterated confidence in its long-term outperformance over gold and the S&P 500 by 2025. His comments contrast with warnings from analysts who highlight fragile support levels. Bitcoin's next critical test lies between $92,000 and $94,000, with a breakdown potentially exposing further downside toward $89,600.

On-chain data, however, suggests lingering accumulation, as the Realized Cap-the aggregate value of all Bitcoin held-reached all-time highs, and 6–12-month holders' cost bases align with the $94,000 support zone.

Institutional demand remains a key variable. Singapore's SGX plans to launch Bitcoin and ether perpetual futures to capitalize on rising institutional interest, while Tesla's extended graphite supply deal with Syrah Resources underscores corporate efforts to reduce reliance on Chinese materials. Yet, major funds and corporate treasuries have scaled back Bitcoin holdings, contributing to the current liquidity crunch.

Market participants are now closely watching Federal Reserve policy. A shift toward rate cuts in 2026 could reignite risk appetite and stabilize ETF inflows. Conversely, persistent hawkish signals or geopolitical shocks could deepen the selloff. "Subsequent outflows depend on macro factors like employment data or Fed decisions," said Laurent Benayoun of Acheron Trading.

For now, Bitcoin's path remains uncertain. While short-term fundamentals appear bearish, long-term holders and on-chain metrics suggest the market is not in terminal decline. As one analyst noted, "This correction looks more like a mid-cycle consolidation than the end of the bull run-provided renewed demand emerges."