After a 30% decline from its all-time high above $126,000, Bitcoin’s price dipped below $90,000.
Analysts asked ChatGPT and Google Gemini if this marks a Bitcoin bear market. ChatGPT flagged the double-digit slide, institutional outflows, and said sustained declines over months define a bear phase. The Fear and Greed Index at 10 signals extreme fear — a potential buying opportunity.
Gemini defined a 20% drop as the technical threshold for a Bitcoin bear market. It highlighted the fall below $100,000 and a death cross on moving averages. Gemini concludes Bitcoin has technically entered bear market territory but cautions it may not trigger a prolonged crypto winter.
Traders should watch these technical and sentiment indicators to gauge market direction.
Bearish
BitcoinBear MarketAI ChatbotsFear and Greed IndexDeath Cross
In a recent Cointelegraph interview, Morgan Creek Capital founder Mark Yusko declared that we’ve officially entered a Bitcoin bear market, marking the onset of a crypto winter. Using network-based models like Metcalfe’s Law, he argues that Bitcoin’s peak was only modestly above its $93,220 fair value, suggesting any correction may be milder than in 2018 or 2022. Still, downward pressures are mounting: new buyer activity is slowing, OG wallets are taking profits, and futures markets could cap rallies and accelerate declines. Despite short-term volatility, Yusko points to long-term tailwinds such as reduced leverage, growing institutional adoption, a supportive macro environment and the ongoing debasement of fiat currencies. He situates Bitcoin within the “then they fight you” phase of technological adoption, where incumbents resist DeFi. Yusko offers guidance on navigating the current bear market and outlines why the long-term outlook for Bitcoin remains strong over the next decade.
Bearish
Bitcoin Bear MarketCrypto WinterFair Value ModelingFutures MarketsInstitutional Adoption
Hive Digital stock, listed on NASDAQ as HIVE, has slumped 53% from its October peak of $7.82 to $3.50 amid a broader Bitcoin pullback. The decline mirrors losses in AI data center peers such as CoreWeave, IREN, Bitfarms and Nebius. Rosenblatt analysts reaffirm a Buy rating with a $10 price target based on Q2 revenue of $87 million—$82 million from Bitcoin mining and $5.7 million from AI services—and a 12× FY27 adjusted EBITDA multiple. H.C. Wainwright raised its price target to $10 from $8, citing management’s plan to deploy 11,000 GPUs by year-end and generate $140 million in annualized AI cloud revenue. Technically, the stock forms a cup-and-handle pattern with support at the 200-day moving average and a measured rebound target near $9.80. Traders may view the pullback as a buying opportunity for a potential bullish bounce.
The US Office of the Comptroller of the Currency (OCC) now permits banks to hold crypto assets to cover blockchain network fees. Under this guidance, federally chartered banks can maintain digital assets required for processing on-chain transactions while operating under federal oversight. By enabling banks to hold crypto for network fees, the OCC aims to streamline blockchain-based services and reduce reliance on third-party custodians. This move follows a trend of growing stablecoin adoption, as banks seek to safeguard deposits and retain control over payment rails. With regulatory clarity around digital-asset custody and transaction costs, banks can expand their crypto offerings, attract new customers and capture fee revenue from blockchain transactions.
Bitcoin rebounded sharply to near $94,000 after a recent drop below $90,000. The move reflects ongoing volatility in the Bitcoin spot market, driven by thin liquidity and uncertain support levels. Traders are witnessing rapid intraday swings as order books remain shallow. Despite the downturn, strong buying interest at key psychological levels helped Bitcoin recover swiftly. Market participants should monitor liquidity and trading volumes, as similar patterns in prior cycles have prompted both swift rallies and sudden pullbacks. Continued volatility is likely, with support near $90,000 and resistance around $95,000 shaping short-term strategies.
El Salvador resumed its Bitcoin accumulation programme with a $100 million purchase of 1,091 BTC on November 18, bringing weekly buys to 1,098.19 BTC and total reserves to 7,474.37 BTC. Valued at about $672.9 million, the holdings show an unrealised gain of $264.6 million. The contrarian dip-buying comes as Bitcoin slid under $90,000, trading near $90,268 after a 4.9% drop amid global panic selling. Short-term holders offloaded 148,000 BTC at a loss—their largest capitulation since April 2025. Since launching a one-BTC-per-day plan in November 2022, El Salvador has ignored IMF calls to suspend purchases. The state’s $100 million buy provided brief relief, but analysts warn that broader de-risking could prompt further selling. Traders will watch whether long-term holders absorb the discounted supply or if Bitcoin slips lower.
Tether has formed a strategic investment partnership with Ledn to expand Bitcoin-backed loans and preserve digital asset self-custody. Ledn originated over $1 billion in Bitcoin-backed loans in 2025, including $392 million in Q3. Although the investment amount was undisclosed, Ledn will use the capital to launch new products, enter new markets and integrate USDT on its platform. Ledn also offers high-yield savings accounts for BTC, USDT, and USDC. This collaboration combines Tether’s stablecoin liquidity with Ledn’s loan infrastructure. It follows Tether’s recent investments in AI firms and tokenized securities with KraneShares and Bitfinex. The partnership strengthens crypto lending services, enhances self-custody and financial resilience, and broadens global credit access for crypto holders.
A brief Bitcoin rally on Tuesday saw the leading cryptocurrency surge above $93,000 after dipping below $90,000 overnight. This rare crypto outperformance occurred alongside a 1.1% drop in the Nasdaq and a 0.3% decline in gold. Altcoins also joined the rally: Ether, Solana, BNB and XRP each gained 2.5%–4%. Crypto-related stocks mirrored this trend, with MicroStrategy jumping 8.3%, Bitmine Immersion up 7%, and Coinbase, Circle and Bullish each rising around 1.5%. While the crypto outperformance may be temporary, the episode underscores renewed bullish sentiment among traders and highlights a potential shift in market dynamics.
Fintech firm Revolut has launched instant Polygon remittances, enabling UK and EEA users to send USDC and, for the first time, USDT stablecoin transfers on-chain. Live since December 2024, the low-fee feature records settlements in seconds and up to 90% lower costs than Ethereum mainnet. The pilot covers 30+ countries and has processed over $690 million in transactions. Compliance with EU regulations limits operations to non-EU EEA territories, while global expansion is planned by year-end. Market analysts and Polygon Labs CEO Marc Boiron say the Polygon remittances will bolster demand for MATIC, USDC, and USDT. This move underscores the growing role of layer-2 solutions in mainstream finance.
Stellar’s native token XLM slipped 3.2% from $0.2577 to $0.2495 in a 24-hour period amid ongoing altcoin consolidation. Sudden volume surges—87% above average—pushed XLM to a resistance peak of $0.2558 before sellers regained control.
Technical indicators show XLM forming a base at $0.248, triggering a V-shaped recovery and reclaiming the $0.250 psychological level. Hourly volume spikes near one million tokens confirm buying interest at the $0.248 support level, suggesting range-bound action between $0.248 and $0.2577. Despite broad market weakness, XLM’s market cap holds near $8 billion, underlining steady demand for Stellar’s cross-border payments utility. Traders now watch the $0.248–$0.250 pivot zone for a potential breakout or further altcoin consolidation.
Digital Chamber’s State Network aims to guide US crypto policy ahead of the 2026 midterms by uniting state legislators, regulators, and industry partners. Founding members include Michael Saylor’s Strategy team, Hedera (HBAR), and Input Output (ADA). In partnership with the Future Caucus, the initiative will train state lawmakers on digital asset legislation and blockchain education. A pilot Microgrants Program launching in 2026 will fund state blockchain associations, university clubs, and local innovation groups to support advocacy events. Having engaged legislators in New York, Arizona, Ohio, and New Hampshire, the network will expand its reach through a 2026 Digital Asset Tour. Traders should watch for improved US crypto policy clarity and long-term growth potential as state frameworks evolve.
Bullish
US Crypto RegulationState-Level AdvocacyMicrogrants ProgramDigital Asset EducationState Network Initiative
Mt. Gox executed its first significant BTC transfer in eight months on November 18, moving $936 million of Bitcoin. Blockchain data shows 10,422 BTC sent to an unknown wallet and 186 BTC routed through its hot wallet to Kraken. Mt. Gox’s court-supervised rehabilitation process includes a creditor payout deadline extended to October 2026. Since July, the defunct Tokyo exchange has distributed over 107,000 BTC but still holds 34,689 BTC. Traders see this Bitcoin transfer as routine asset management rather than a major sell-off. The move adds potential liquidity but is unlikely to disrupt market stability in the near term.
Standard Chartered analyst Geoffrey Kendrick identifies Bitcoin’s recent sell-off as the third major 30% correction since U.S. spot Bitcoin ETFs launched. He notes key indicators, such as MicroStrategy’s modified net asset value (mNAV), have reset to levels signaling seller exhaustion and market bottom formation. Kendrick anticipates a Bitcoin year-end rally, citing collapsed sentiment metrics and on-chain capitulation signals. Bitcoin’s price fell below $90,000, marking its deepest pullback since the ETF debut, then rebounded near $93,000. His base case forecasts a rally into year-end, echoing Bitfinex analysts who see slowing realized losses among short-term holders. Traders may view these signals as bullish for Bitcoin’s medium-term outlook.
SG-FORGE, the crypto arm of Société Générale, has issued its first tokenized bond in the U.S. The short-term digital bond is tied to the secured overnight financing rate (SOFR) and was purchased by trading firm DRW. This landmark tokenized bond runs on Digital Asset’s privacy-focused Canton Network and uses Broadridge Financial Solutions’ tokenization platform for issuance. The on-chain transaction settles instantly while retaining traditional legal structures.
BNY Mellon acts as the paying agent. IntellectEU’s Catalyst Blockchain Manager supports the network infrastructure. Mayer Brown provided legal counsel. This deal marks Broadridge’s tokenization platform debut in live securities issuance.
SG-FORGE has been active in European digital bonds since 2019. The U.S. launch opens the door to more complex on-chain products, including structured notes. The firm also integrates its euro and dollar-backed stablecoins into Deutsche Börse’s core systems and lists them on Ethereum-based protocols Morpho and Uniswap for institutional collateral use.
Bullish
Tokenized BondsSG-FORGECanton NetworkDigital SecuritiesOn-Chain Capital Markets
The U.S. Office of the Comptroller of the Currency (OCC) has issued Interpretive Letter No. 1186, clarifying that national banks may hold crypto assets on their balance sheets to cover anticipated blockchain gas fees. This guidance allows banks to maintain the specific tokens required to process transactions on various networks, either as a principal or acting on behalf of customers in custody operations. The policy aligns with provisions in the Guiding and Establishing National Innovation for U.S. Stablecoins Act, permitting banks to hold amounts of digital assets reasonably needed for operational gas fees. This marks a shift from previous caution under earlier administrations. OCC Comptroller Jonathan Gould, confirmed in July 2025, has overseen this pro-crypto stance. Other U.S. regulators, including the Federal Reserve and FDIC, are still drafting stablecoin rules under the GENIUS Act. By removing uncertainty around gas fees, the OCC’s clarification may pave the way for expanded crypto services from national banks.
Investing.com has unveiled an AI chart analysis tool that delivers precise technical indicators directly from visual charts. Launched on November 18, the Vision AI feature calculates exact values—like the 200-day moving average at $93,297 and the SuperTrend at $90,653—instead of approximations. Traders receive ten free credits for two analyses; paid plans start at $14.99/month for 50 credits. Accessible on desktop and mobile web in 30 languages, the tool covers cryptocurrencies such as BTC and ETH, stocks, forex, and more. CTO Yonatan Adest highlights its data-driven approach, contrasting it with conventional chatbots. This AI chart analysis solution aims to streamline trading decisions but carries standard disclaimers for informational use.
Bullish
Investing.comAI chart analysisTrading indicatorsTechnical analysisCrypto AI tool
Asset managers Fidelity, Canary and VanEck have each unveiled new Solana ETFs, giving investors regulated access to SOL. Listed on major North American exchanges, the funds track the market price of Solana and charge competitive fees between 0.39% and 0.50% annually. This wave of Solana ETFs follows recent approvals of spot crypto funds, aiming to tap growing institutional demand. While increased liquidity and easier trading could boost SOL’s adoption, investors should consider tracking error and custodial risks. Overall, the launch marks a significant milestone in Solana ETF offerings and may drive short-term inflows.
XRP price fell over 10% this week to $2.20. The asset is now in oversold territory as the weekly Stochastic RSI hits 2.73. Historically, similar oversold signals preceded gains of 53%, 216% and 591%. A bullish divergence on the daily RSI suggests selling pressure is easing. Currently, XRP tests the descending channel’s upper trendline near $2.19–$2.20. Fibonacci levels point to upside targets at $2.78, $3.40, $4.41 and $5.21. Trading volume remains high, underscoring strong market interest. On-chain data show Binance inflows exceeding 70 million XRP on October 25 and November 15, raising potential selling pressure. Glassnode reports 42% of holders are at a loss. Traders await confirmation of a rebound by reclaiming resistance. The mix of XRP oversold conditions and exchange inflows will shape the next major move.
Ethereum has shown signs of bottoming after a recent liquidity reset. ETH traded near $2,950 before rebounding above $3,000, though it is still down about 5% over 24 hours and 22% monthly. Analysts at Altcoin Vector note that past liquidity resets often precede multi-week bottoming phases and potential recovery. The next upward leg depends on renewed liquidity inflows. Delays in liquidity rebuilding could extend consolidation and increase downside risk. Crypto analyst Ted Pillows warns of a possible test of the $2,800–$2,900 range. Daan Crypto Trades highlights that ETH is holding the 0.618 Fibonacci retracement zone but needs a break above $3,650 to improve its outlook. Meanwhile, subdued New Depositors metrics point to weak retail participation. Historical parallels include summer 2020 and early 2024 when similar patterns preceded significant rallies. A successful recovery in liquidity and investor participation could set the stage for Ethereum’s move toward $6,000–$7,000.
Ethereum price has extended its decline toward the $3,000–$3,050 demand zone amid rising selling pressure. Technical analysis shows a broad descending structure with the 100-day and 200-day moving averages above current levels, signalling weakening medium-term momentum. A daily close below $2,950 would expose the $2,600–$2,700 macro demand area, while a stabilized higher‐low base near $3,000 could trigger a relief rally toward $3,400–$3,550.
On the 4-hour chart, ETH trades within a descending channel, testing the mid-channel liquidity cluster and creating an imbalance window at $3,250–$3,330 for a potential bounce. A failure to reclaim the channel midline around $3,350 would keep the bearish bias intact.
On-chain analysis of futures order sizes reveals retail capitulation near $3,000 and thinning large orders, suggesting forced liquidations rather than institutional exits. A defense of this zone, coupled with a rise in whale activity, could mark an early accumulation phase ahead of a broader corrective upswing.
Neutral
EthereumPrice AnalysisTechnical AnalysisOn-Chain DataSupport Zone
Ethereum price is forming a clear bullish divergence on the 4-hour chart as the Relative Strength Index (RSI) posts a higher low while price records a lower low at the $2,900 support level. This high-time-frame support has historically attracted buyers during corrective phases, reinforcing its significance.
For a valid trend reversal, traders need volume confirmation in the form of an impulsive bullish candle accompanied by rising trading volume. Should Ethereum break above short-term resistance, the next major upside target sits at $3,425—the upper boundary of its current trading range and a zone of structural resistance. If support at $2,900 holds and buyers step in, Ethereum price could rotate toward this level. Failure to confirm the divergence with volume risks a breakdown and a retest of lower support levels.
Aster price has formed a clear round-bottom pattern amid market weakness, signaling steady accumulation and growing bullish interest. Each dip in ASTR sees aggressive buybacks, creating a curved support base. Reclaiming the key $1.40 resistance level would confirm buyer control and open targets at $1.49 and $2.13. A decisive breakout above $1.40 could trigger a rally toward the $2.13 high-time-frame resistance zone. Traders should watch for volume confirmation to validate the bullish scenario. If support holds at the ascending curve, Aster price may extend gains despite broader market softness. Conversely, a breakdown below the base would delay upside momentum and risk deeper correction. Crypto traders can use these technical levels to plan entries and manage risk around ASTR.
Digital archaeologists have reinterpreted Monte Sierpe, a 600-year-old Inca site in Peru, as an indigenous public ledger akin to a blockchain system. The site’s 5,200 holes, arranged in 60 segments, functioned as a large-scale accounting tool for recording and verifying tribute payments. Researchers propose that each block of holes represented a social group’s contributions, offering an early proof-of-work-like mechanism to display transactions publicly and ensure transparent record-keeping without writing. This Inca blockchain system predates European double-entry accounting by a century and highlights the Empire’s innovative administration. Unlike khipu cords, which relied on specialist record-keepers, Monte Sierpe provided an immutable, trustless display of economic data. While each new tribute cycle likely overwrote past entries, the analog blockchain’s principles mirror modern distributed ledgers. This insight underlines the enduring value of public, verifiable ledgers in organizing large societies.
Short-term Bitcoin holders transferred 65,200 BTC to exchanges at a loss, indicating renewed panic selling. This wave of capitulation among retail traders reflects mounting losses for recent buyers who entered at higher prices. Institutional investors have also been net sellers of Bitcoin recently, though some funds continue to accumulate BTC. Bitcoin ETFs remain largely net sellers, apart from a few active buyers like Strategy. Following a lull in capitulation, exchange inflows have resumed, suggesting intensifying selling pressure and greater market uncertainty. Traders should monitor exchange deposits, short-term holder activity and ETF flows for potential price volatility and near-term direction in Bitcoin trading.
Institutional crypto adoption continues despite Bitcoin’s price slump. Corporations now control 14% of BTC supply, raising debates over centralization. SoFi has launched crypto trading for US retail clients under updated OCC guidelines. Singapore Exchange (SGX) will introduce Bitcoin and Ether perpetual futures for accredited investors, regulated by MAS. The IRS has approved staking by digital asset ETPs, allowing trusts to earn and distribute staking rewards with simplified tax reporting. Hong Kong issued its third blockchain bond tranche worth HK$10 billion, attracting global institutional investors. These developments signal increasing institutional commitment to blockchain technologies and diversified crypto products amid current market correction.
On November 18, Arkham data shows a crypto trader deployed $22.3 million to open a ZEC short position, currently yielding a floating profit of $3.6 million. The trader initiated successive ZEC short trades after Zcash retested the $700 midline price two days ago. This large-scale short reflects growing bearish sentiment on ZEC amid recent price volatility. Market participants should watch for potential margin calls or squeeze events if ZEC breaks key support levels. The sizable short position may add downward pressure in the near term, while traders monitor whether ZEC can reclaim or sustain above the $700 range to reverse this bearish momentum.
Obex, a crypto incubator, has raised $37M to back next-generation yield-bearing stablecoin projects collateralized by real-world assets. Led by Framework Ventures, LayerZero and Sky, the fund targets tokenized compute credits, municipal solar and battery systems, and fintech loan portfolios.
Through a 12-week accelerator, Obex offers capital, technical support and governance oversight. Successful teams can access up to $2.5B in USDS from Sky’s reserves. This program blends institutional-grade risk controls with on-chain yield strategies. The yield-bearing stablecoin incubator aims to prevent past peg failures and scale synthetic stablecoin adoption.
Serenity, a Dubai-based biometric blockchain platform, has secured white paper notification under Europe’s MiCA regulation via Malta’s MFSA and listing in ESMA’s Interim MiCA Register. This milestone positions $SERSH as one of the first utility tokens to complete the MiCA registration process, allowing lawful token offerings across all 27 EU member states without prior approval. As over 250 startups delay EU launches and major projects face delistings for non-compliance, Serenity’s MiCA registration demonstrates a competitive advantage in a market where regulatory clarity is paramount. By structuring $SERSH as an ‘Other Crypto-Asset’, Serenity sidesteps stringent capital requirements and reserve mandates that burden stablecoins and asset-referenced tokens. The platform’s vertically integrated ecosystem—spanning biometric hardware, secure modules, tokenization engines, and private-cloud infrastructure—now gains a 12-month window to cement market leadership. Serenity’s MiCA compliance signals institutional legitimacy, enables pan-European marketing, and creates a compliance moat against latecomers in the EU crypto market.
Mt. Gox moved 10,608 BTC (around $953 million) from its cold wallet in its largest transfer in eight months. Since July 2024, creditor repayments have driven several large Bitcoin transfers, and the trustee recently extended the repayment deadline to October 2026. After this shift, Mt. Gox still holds 34,689 BTC (about $3.1 billion).
On-chain data show no coins sent to exchanges. This suggests no immediate sell-off and limited market impact. Institutional demand and US spot ETFs have absorbed most new supply since mid-2024.
Analysts warn of potential short-term volatility around creditor repayments. Traders should monitor Mt. Gox wallet activity for further Bitcoin transfers. Overall, this Bitcoin transfer signals a neutral outlook for the market.