Bitcoin News Today: Whales' Leverage and ETF Exodus Push Bitcoin Toward $67K

Bitcoin Faces Bearish Pressure as Whales and ETF Outflows Drive Price Toward $67,000

Bitcoin's price slump accelerated in late November 2025 as influential market participants and institutional shifts intensified selling pressure. On-chain data reveals a coordinated bearish strategy from major players, with James Wynn, a prominent market analyst, forecasting a potential drop to $67,000 by week's end.

A key driver of the selloff is the activity of "Ultimate Bear" whale 0x5D2, who holds a $106 million 20x leveraged short position in Bitcoin. The whale, which has reaped $29.8 million in unrealized profits, recently lowered its take-profit target from $89,000–$91,000 to $67,000, signaling heightened pessimism. This adjustment coincided with a drop in Bitcoin's liquidation price from $105,700 to $92,000 over 10 days, exposing 5.75% of the position to liquidation risk. Meanwhile, another whale added an $87.6 million 3x short, further pushing BTC below key support levels.

Institutional flows have compounded the downward momentum. U.S. Bitcoin ETFs recorded $3.5 billion in November outflows, with BlackRock's IBIT accounting for 63% of redemptions. Analysts note that each $1 billion in ETF withdrawals typically correlates with a 3.4% price decline, contributing to Bitcoin's 21% monthly drop. Centralized exchange (CEX) outflows also surged, with 29,194 BTC withdrawn in seven days, though Binance saw a 16,353 BTC inflow, suggesting shifting liquidity dynamics.

Despite the bearish climate, Bitmine Immersion Technologies (BMNR) has emerged as a major Ethereum accumulator. The company disclosed $11.2 billion in assets, including 3.63 million ETH (3% of the total supply), 192 Bitcoin, and $38 million in Eightco Holdings. Chairman Thomas Lee emphasized Bitmine's dominance in Ethereum staking, noting a 69,822 ETH acquisition in the past week. The firm plans to launch the MAVAN staking network in Q1 2026 and has engaged Tom DeMark as a strategic advisor to boost Ethereum purchases.

The market's volatility has sparked debates over risk management. Decentralized exchange KiloEx introduced a "90% liquidation line" mechanism to mitigate risks from high-leverage trading, addressing concerns over short-term price spikes causing unintended liquidations. Meanwhile, Cardano's governance approved a $2–$3 million treasury loan to expand ADA listings on global exchanges, though founder Charles Hoskinson had previously criticized such use of funds.

Technical indicators suggest Bitcoin may test $85,000 next, with further declines likely without significant institutional buying. The convergence of whale-driven shorts, ETF redemptions, and shifting market sentiment has created a challenging environment, underscoring the need for a fundamental shift in risk appetite or capital flows to reverse the trend.