Bitcoin on Tuesday, November 18 reflected its lowest price point in seven months. The asset registered a price drop of 5.25 percent in the last 24 hours, slipping to the price point of $89,900 on Tuesday. Bitcoin’s seven day loss margin has now expanded to 14.33 percent. Cameron Winklevoss, the co-founder of the Gemini exchange weighed in on the situation saying, “This is the last time you’ll ever be able to buy Bitcoin below $90,000”.
In conversation with CoinHeadlines, market analysts said if BTC fails to hold at $90,000 the asset could pivot towards the $75,000 price point. As per CoinGlass, 180,661 traders were liquidated in the last 24 hours, pulling $1.01 billion out of the market. BTC liquidations in the last 12 hours have touched $562.21 million.
“Bitcoin’s latest fall signals a sharp shift from bullish momentum to fear-driven selling. The drop follows fading hopes of Fed rate cuts, rising dollar strength, and heavy leveraged liquidations. BTC also broke key support zones, triggering automated sell-offs and draining liquidity across altcoins. With ETFs seeing slower inflows and macro markets turning risk-off, Bitcoin is behaving more like a traditional asset than a crypto outlier,” Sathvik Vishwanath, co-founder and CEO, Unocoin told CoinHeadlines.
Ether dipped by nearly six percent over the last day to trade at $3,005 on Tuesday. The asset’s weekly loss has widened to 15.15 percent. As shown on CoinMarketCap, all of the top five crypto assets by market cap are trading in losses on Tuesday. Alongside BTC and ETH, these include Tether, XRP, and BNB.
Source: CoinMarketCap
Solana, USDC, Tron, Dogecoin, and Cardano are among other tokens that are trading under losses.
Meanwhile, among a handful of crypto tokens that registered gains, Hyperliquid joined Monero, Aster, and Filecoin in retaining profits of under seven percent over the last day. For Zcash, while the last two days have been slow in terms of its price rally, it has retained a weekly profit margin of nearly 20 percent.
Despite the ongoing market slowdown, analysts predict a strong potential for tables to turn.
“Institutional conviction remains strong, with Strategy’s recent purchase of 8,178 Bitcoin, worth $835 million, helping offset selling from new entrants and ETF-driven pressure. On the other hand, on-chain data also shows rising activity from short-term holders, a pattern often seen near market bottoms, suggesting that a shift in momentum may be approaching,” Mudrex CEO Edul Patel told CoinHeadlines.
The overall crypto market cap has dropped drastically to $3.09 trillion. In the last 24 hours, the market valuation has dropped to 4.30 percent. The score of 15 on the Fear and Greed Index reflects extreme fear sentiment among investors.