Bitcoin Falls Over 30% From October High as Market Turns Risk-Off

Bitcoin prices continued their steep decline on November 18, falling more than 5.3% from yesterday’s close and extending losses to over 26% from the October peak of $126,000. The world’s largest cryptocurrency dropped as low as $89,426, briefly slipping below the $90,000 mark for the first time in seven months.

Bitcoin is now down more than 30% from its October high, erasing all gains made since the start of 2025.

Market sentiment has weakened sharply, with fears rising that the price could slide further toward the $80,000 level, fueled by selling pressure from new entrants.

Experts Cite Rate Uncertainty and Risk-Off Mood

Ashish Singhal, Co-founder of CoinSwitch, said Bitcoin’s decline was driven by uncertainty around potential US interest rate cuts, broader weakness in equity markets, and large investors reducing their positions.

“Bitcoin fell below $90,000 for the first time in seven months… the movement reflects short-term volatility across markets,” he said, adding that some participants may view the pullback as an accumulation opportunity.

Vikram Subburaj, CEO of Giottus.com, said the cryptocurrency’s fundamentals had not deteriorated.

“It has slid almost 30% from the October peak… investors are digesting stickier US rates and a broader de-rating of risk assets,” he noted.

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ETF Outflows Add Pressure

The spot ETFs that helped drive Bitcoin’s previous rally are now seeing heavy outflows. Over the past month, $2.8 billion has exited Bitcoin ETFs, removing a key source of demand and adding fresh downward pressure on prices.

Altcoins Also Decline

The sell-off has spilled into the broader crypto market:

• Ethereum: down 5.6%

• XRP: down 3.8%

• Binance Coin: down 3%

• Solana: down 3.2%

This synchronized decline highlights the market’s shift into a risk-off phase as investors reduce exposure across the crypto ecosystem.

Institutional Buying Provides Some Support

Despite the correction, institutional demand remains active. Edul Patel, CEO of Mudrex, said strong conviction among large investors continues, noting that Strategy recently purchased 8,178 Bitcoin worth $835 million, helping offset selling pressure.

Patel added that on-chain data shows rising activity from short-term holders, a pattern often seen near market bottoms.

Citing Deribit data, Bloomberg reported that sentiment had shifted quickly, with fears increasing of Bitcoin sliding to $90,000, $85,000, and even $80,000 levels.

Key Levels to Watch

According to Patel, Bitcoin has taken support at $89,500 and is attempting to stabilize.

• Upside: sustained buying could push prices to $93,000–$95,000

• Downside: a move toward $85,000 cannot be ruled out

Volatility Remains High; Experts Advise Caution

Crypto remains unregulated in India and is known for extreme price swings. Subburaj cautioned investors to follow disciplined strategies.

“Respect volatility, avoid leverage, and use rupee-cost averaging… Bitcoin rewards those who stay solvent and unemotional in a fluctuating market,” he said.

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