Bitcoin News Today: Macroeconomic Pressures and Death Cross Drive Bitcoin's 23% Monthly Plunge

Bitcoin's price has plunged below $81,000, marking a 23% monthly loss-the worst since June 2022-and triggering widespread panic across crypto markets. On November 21, 2025, Bitcoin (BTC) fell to $82,605, down 4.53% in a single day, as over $1.9 billion in long positions were liquidated within four hours according to reports. The total crypto market cap dropped below $2.8 trillion, erasing $120 billion in value within a day. Ethereum, Solana, and BNB all posted double-digit declines, with fear dominating sentiment as data shows amid weak U.S. unemployment data and fading hopes for Federal Reserve rate cuts.

The selloff has been exacerbated by a "death cross" technical pattern, where Bitcoin's 50-day moving average fell below its 200-day average-a bearish signal historically associated with prolonged downturns according to CoinDesk. This development, combined with stalled ETF inflows and thinning liquidity, has pushed the Fear & Greed Index to 11, its lowest level since 2022. Analysts warn that failure to reclaim key support levels, such as $93,700, could open the door to further declines.

Macroeconomic pressures and institutional caution have compounded the sell-off. U.S. spot Bitcoin ETFs recorded $903 million in outflows on November 21, the second-largest daily redemption since their launch. Open interest in perpetual futures has fallen 35% from October's $94 billion peak, signaling retreating participation. Meanwhile, large leveraged holders like MicroStrategy face margin pressures, with its stock dropping 5% as of November 21.

Despite the gloom, some analysts see potential for short-term stabilization. "Historically, such phases have led to strong reversals," said Edul Patel of Mudrex, noting that on-chain data shows rising activity from short-term holders-a pattern often seen near market bottoms according to TradingView.

Glassnode data also highlights Bitcoin's current price as roughly 25% below its October high of $126,000, with the MVRV metric suggesting undervaluation.

However, the broader market environment remains fragile. Tightening financial conditions and concerns about credit risk have pushed investors out of high-beta assets, with crypto bearing the brunt of the rotation. "Liquidity has deteriorated, so the market simply can't absorb large sell orders the way it did earlier in the year," said BitBull Capital's DiPasquale according to Forbes.

Looking ahead, the path for Bitcoin remains uncertain. While deep oversold conditions on the daily RSI (27) suggest a potential near-term bounce, resistance levels above $110,000 remain formidable. A decisive move above $100,000–$105,000 could reframe the death cross as a local bottom signal, but a breakdown below $88,000 risks targeting $81,000 and $75,000.

As the crypto market tests its mettle, the coming weeks will be critical in determining whether this correction marks a temporary setback or the start of a deeper bear market.