Bitcoin News Today: Bitcoin Stands Unshaken as Altcoins Crumble in Sell-Off

Bitcoin Holds Steady Amid Market Turbulence as Altcoins Suffer Sharp Selloff

Bitcoin (BTC) has shown resilience in a volatile market, maintaining prices near $93,555 despite a wave of sell pressure that has pushed altcoins to multi-month lows. The cryptocurrency's ability to avoid a deeper decline has sparked debate among traders, with some viewing it as a potential bottoming signal and others warning of prolonged bearish momentum. The broader crypto market, valued at $3.12 trillion, has lost over $1.1 trillion in the past 41 days, with over $801 million in liquidations reported in the last 24 hours.

A key driver of recent volatility has been the sudden activation of dormant wallets. On November 13, a Satoshi-era wallet that had held 12,000 BTC-valued at $1.4 billion-for 13 years transferred its holdings to an exchange, triggering a 2% price drop. The move reignited fears of a large-scale selloff, particularly as Bitcoin approaches critical technical levels. Analysts noted that the fear and greed index has plummeted to 14 out of 100, a level last seen during the 2025 Bitcoin crash and the Luna collapse. Meanwhile, the CME Bitcoin futures gap closure remains a focal point, with traders bracing for a potential break below the $100,000 psychological threshold.

Altcoins have fared worse, with the Altcoin Season Index hovering near 30/100 as liquidity dries up. Ethereum (ETH) and other major tokens have fallen over 5% in 24 hours, exacerbating a broader selloff that has wiped out over 154,000 positions. The liquidations have disproportionately impacted long traders, with $500 million in long positions wiped out in recent days. High-leverage bets have also collapsed, including a $168 million leveraged short position on HyperLiquid that erased a trader's portfolio before they doubled down on new bets.

Despite the chaos, some market participants remain cautiously optimistic. Galaxy Digital's latest report highlights a shift toward more transparent leverage structures, with DeFi platforms like Aave and Fluid attracting $3 billion in borrows since launching on Plasma. The firm noted that recent liquidations, while severe, did not reflect systemic weakness but rather algorithmic deleveraging on exchanges.

Cboe's launch of "perpetual-style" Bitcoin and Ethereum futures aims to reduce operational friction, offering 23-hour trading and cross-margining benefits. The move aligns with similar initiatives from Singapore Exchange and the CME, which have expanded 24/7 crypto futures trading to meet growing institutional demand.

Looking ahead, macroeconomic factors could shift the narrative. Global stimulus measures-including Japan's $110 billion package and China's $1.4 trillion plan-may inject liquidity into markets by early 2026. However, traders will remain wary until Bitcoin reclaims key resistance levels, with analysts like Ted emphasizing that a close above $105,000 could reignite bullish momentum. For now, the market teeters between exhaustion and opportunity, with history suggesting that extreme fear often precedes sharp reversals.