Bitcoin Rebounds After Hitting Seven-Month Low Below $90,000
November 18, 2025 – Reuters
Bitcoin experienced a slight recovery on Tuesday following a notable drop below the $90,000 mark, a seven-month low that had seen the cryptocurrency’s value take a significant hit amid a cautious market environment. After slipping as low as $89,286.75, Bitcoin rebounded to trade around $93,532, marking an increase of nearly 1.9%.
This recent dip reflects a nearly 30% decrease from Bitcoin’s peak of above $126,000 in early October, wiping out all gains made throughout the year. The total market capitalization of all cryptocurrencies has fallen by approximately $1.2 trillion over the past six weeks, illustrating the scale of the sell-off.
Market Sentiment and Influencing Factors
Market participants attribute the downturn to growing uncertainty surrounding the future of U.S. interest rate cuts as well as a broader risk-averse sentiment prevailing across global markets. Following an extended rally, many investors have become reluctant to embrace risk, causing both retail and institutional investors to exit their positions.
Jean-David Pequignot, Chief Commercial Officer at Deribit, a Coinbase affiliate, noted that downside fears are justified in the short term, with the market’s path of least resistance currently downward. However, he also highlighted that previous extreme market scenarios have sometimes rewarded bold investors willing to take risks during such phases.
Joshua Chu, co-chair of the Hong Kong Web3 Association, emphasized how cascading sell-offs intensify as listed companies and institutions exit following prior heavy inflows during the rally. “When support thins and macro uncertainty rises, confidence can erode with remarkable speed,” he commented.
Outflows from ETFs and Institutional Impact
The Bitcoin market has also been affected by significant outflows from U.S. spot Bitcoin Exchange-Traded Funds (ETFs). Data from Morningstar shows that since October 10, $3.7 billion has exited these ETFs, with $2.3 billion of these outflows occurring in November alone. The downturn in equity markets triggered by U.S.-China tariff tension fears contributed to these movements.
Joseph Edwards from Enigma Securities observed that speculators who hoped for supportive U.S. regulatory developments have started to pull back, driving these outflows. The selling pressure, while not extraordinary, coincides with a weak buying side. Furthermore, many retail investors remain cautious after being impacted by a severe flash crash in October, which caused $19 billion in liquidations on leveraged positions.
Corporate Bitcoin Holdings and Sector Performance
Public companies holding Bitcoin—as crypto treasury stocks—have also felt the impact of the market’s sour mood. Notable holders include Strategy, Marathon Holdings, and Coinbase, all of which saw share prices decline before partially rebounding in line with Bitcoin’s afternoon gains.
Standard Chartered Bank estimates that a sustained drop below $90,000 could leave nearly half of these companies’ Bitcoin holdings "underwater," meaning their assets would be valued below cost. Collectively, listed companies hold about 4% of all Bitcoin and 3.1% of Ethereum in circulation.
Strategy, the largest corporate Bitcoin holder, has continued acquiring Bitcoin despite market turbulence. Founder Michael Saylor reported that the company added 8,178 Bitcoin on Monday alone, bringing its total to 649,870 tokens at an average price of roughly $74,433 per Bitcoin.
Ethereum Also Under Pressure
Ethereum, the second-largest cryptocurrency, has similarly experienced a prolonged decline. Since peaking above $4,955 in August, Ethereum has lost nearly 40% of its value amid weakening market conditions.
Outlook
While short-term fears and macroeconomic uncertainties weigh heavily on Bitcoin and the wider cryptocurrency market, the space remains highly dynamic. Market analysts caution that although the current environment favors downside pressure, historical precedents show that bold moves during market troughs can be rewarding.
The evolving regulatory landscape, institutional participation, and broader financial market trends will continue to play pivotal roles in shaping the trajectory of cryptocurrencies in the coming weeks and months.
Reporting by Rae Wee and Elizabeth Howcroft in Singapore and London; additional material by Tom Westbrook and others; editing by Jan Harvey and Nick Zieminski.
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