Bitcoin News Today: Bitcoin's Rebound Sparks Resilience Debate as ETFs Bleed $3B

Bitcoin's Short-Term Rebound Sparks Debate on Market Resilience and Institutional Confidence

Bitcoin (BTC) briefly erased its 2025 gains over the weekend, falling to $93,029-a 25% decline from its October all-time high-before rebounding to around $94,209, according to CoinGecko data. The volatility has reignited debates about the cryptocurrency's ability to withstand macroeconomic pressures and institutional skepticism. While the price recovery suggests short-term stabilization, analysts caution that broader market fundamentals remain fragile.

The recent dip has drawn comparisons to historical patterns, particularly the "death cross," a bearish technical signal where the 50-day moving average crosses below the 200-day moving average according to CoinDesk. This is the fourth such occurrence since 2023, with previous instances aligning with major market bottoms. In 2023, Bitcoin bottomed near $25,000, and in 2024, it found support around $49,000 during the yen carry trade unwind. The current drawdown, though less severe than the April 2025 correction, has left investors questioning whether the same pattern will repeat.

Market stress was further highlighted by record outflows from BlackRock's iShares Bitcoin Trust (IBIT), the largest spot Bitcoin ETF. Investors pulled $523 million from the fund on November 19-the fifth consecutive day of net redemptions-amid a 30% decline from October's peak. Total outflows from the 12 U.S. Bitcoin ETFs have surpassed $3 billion in November, with IBIT accounting for nearly $2 billion. Derivatives traders are also hedging against further declines, with significant buying of downside protection bets targeting a $80,000 level by December.

Despite the selloff, institutional confidence in Bitcoin remains evident. MicroStrategy reported a $14 billion second-quarter profit from its Bitcoin holdings and announced a $4.2 billion preferred ATM offering to continue accumulating the asset. Meanwhile, Canaan Inc. reported a 241% year-over-year increase in mining revenue to $30 million in Q3 2025. The company's CEO emphasized that deploying Bitcoin miners remains a viable short-term strategy despite the industry's pivot toward AI infrastructure.

Altcoin markets mirrored Bitcoin's volatility. XRP, for instance, fell 4.3% to $2.22 even after the launch of the XRPC ETF, though technical indicators suggest a potential V-shaped reversal according to Yahoo Finance.

Key support levels at $2.22 and $2.16 are critical for near-term stability, with traders monitoring volume spikes for signs of bottom-fishing activity.

The broader crypto landscape remains mixed. While tokens with clear utility have held up, speculative assets face pressure. Regulatory developments, including the U.S. government reopening and Canada's stablecoin policy, add to the uncertainty. For now, Bitcoin's ability to hold above $90,000 will be a key test of market resilience.