Bitcoin News Today: Bitcoin Bears Bet Big as Fed Rate Hopes Diminish

Bitcoin's bearish momentum intensified in late November 2025 as a high-profile short-position holder adjusted targets and liquidation thresholds, reflecting broader market anxiety amid plunging prices and shifting macroeconomic expectations. The trader, identified as address 0x5D2F on Hyperliquid, slashed their BTC short target to $67,000 and lowered the liquidation price to $92,000, according to on-chain analytics firm Lookonchain. The whale's 1,232 BTC short position-valued at $113 million with 20x leverage-has generated over $24 million in unrealized profits, underscoring the strength of the bearish case despite Bitcoin's recent volatility.

The market context for this bearish bet has grown more dire as Bitcoin slumped to a seven-month low of $82,605 on November 21, erasing $120 billion in crypto market value and triggering over $1.9 billion in long liquidations. The selloff accelerated after weak U.S. employment data dimmed hopes for a December Federal Reserve rate cut, pushing the Fed's policy rate-cut probability to 45.8% from over 60% the prior week. Meanwhile, U.S. spot Bitcoin ETFs recorded $1.11 billion in outflows during the week of November 10–14, marking the third consecutive week of institutional retreat and signaling waning confidence in the asset class.

Technical indicators and on-chain metrics further amplified bearish sentiment. The Crypto Fear & Greed Index plummeted to 10 - the lowest since July 2022 - as traders grappled with extreme capitulation. Short-term holders (STHs) dominated the liquidation wave, with over $443 million in leveraged long positions wiped out in 24 hours, per Coinglass data. Analysts noted that STH-driven deleveraging and forced selling during stress periods exacerbated downward momentum, though some argued the move represented a bull market correction rather than a cycle top reversal.

Despite the bleak near-term outlook, a faction of analysts and traders pointed to potential catalysts for a rebound. Bitcoin's price retest of the $87,000 level coincided with a critical liquidity threshold, while Santiment highlighted historical patterns where retail-driven extreme fear often preceded bullish reversals. Additionally, the 2019 U.S. government shutdown provided a template for post-stress rebounds, with liquidity infusions from anticipated Fed quantitative easing (QE) offering a potential lifeline.

The whale's strategy, however, remains firmly bearish. With no long positions on record and a history of profiting through fund fees during sustained downtrends, address 0x5D2F has positioned itself to capitalize on a potential drop to the $80,000 zone. Yet the path is fraught with risk: a sudden BTC rally above $101,600 - a current liquidation threshold - could trigger margin calls and force a reassessment of the bearish narrative.