Bitcoin News Today: Bitcoin Dives Below $82k as Macro Fears Clash with Historical Rebound Hopes

Bitcoin Plunges Below $82,000 as Risk Aversion Spreads Across Crypto Markets

Bitcoin fell below $82,000 on November 21, 2025, marking its lowest level since April and intensifying investor anxiety amid a broad selloff in risk assets. The decline, driven by waning optimism around Federal Reserve rate cuts and macroeconomic uncertainties, erased over 30% of the cryptocurrency's value from its October record high of $126,250. The drop has pushed the average 2025 buyer into a 13% loss, as the realized price-the average cost at which coins were acquired-fell to $103,227, according to Glassnode data.

The selloff mirrored the April 2025 correction, which saw prices fall from $109,000 to $76,000 over 80 days. However, the current decline has unfolded more rapidly, lasting just 43 days as of November 21. Bybit's latest x Block Scholes Crypto Derivatives Analytics Report highlighted the market's deteriorating sentiment, noting that open interest in leveraged swap contracts has stagnated around $9 billion, nearly half the level before the October 10 leverage unwind. Meanwhile, implied volatility for Bitcoin and Ethereum has surged past October's peaks, signaling heightened fear among traders.

The crypto market cap shrank below $2.8 trillion as Bitcoin's price slide accelerated. On November 21, the asset dipped to $81,629 before rebounding slightly to $84,166. Over $1.9 billion in long positions were liquidated within four hours, exacerbating the downward spiral. ETF outflows added to the pressure, with U.S.-listed Bitcoin ETFs recording $903 million in redemptions-the second-largest daily withdrawal since their launch. Open interest in perpetual futures has since dropped 35% from October's $94 billion peak, reflecting reduced leverage appetite.

The decline has spilled over to other major cryptocurrencies. Ethereum, Solana, and Binance Coin all posted double-digit losses, while the broader market grappled with weak U.S. employment data and fading hopes of near-term Fed easing. "The setup looks like classic peak bull-market stuff, but technical pressures are building as the 200-day moving average turns lower," Mike McGlone of Bloomberg's market intelligence noted.

Macro risks and regulatory uncertainties further compounded the sell-off. A potential exclusion of digital asset treasury companies like MicroStrategy from MSCI indexes loomed as a catalyst for forced selling. JP Morgan analysts estimated that such an exclusion could trigger $2.8 billion in share sales for MicroStrategy alone. Meanwhile, global equity markets mirrored the crypto selloff, with Asia stocks plunging on renewed tech sector fears and sticky inflation data.

The collapse has also reignited debates about Bitcoin's role in institutional portfolios. While large holders like MicroStrategy have offset some selling pressure, the broader market remains fragile. With Bitcoin now down 23% for November-the worst monthly performance since June 2022-investors are bracing for further volatility as macroeconomic signals remain mixed.

Despite the turmoil, some analysts see potential for a rebound. Block Scholes' Risk Appetite Index, which measures market euphoria or panic, indicated a strong correlation between current sentiment shifts and historical price recoveries. "Historically, these phases have led to strong reversals," Edul Patel of Mudrex said, noting that support levels around $89,500 could stabilize prices.