Bitcoin Falls Below $90K Amid Extreme Market Panic
Bitcoin price dipped below $90,000 on November 19 at 23:56 UTC, sliding by 3.01% over 24 hours to $90,187.89. Open interest across futures markets stands at $136.97 billion, with $214.39 million in long position liquidations in the past day. This sharp price decline has fueled extreme market panic, intensifying volatility and triggering significant futures liquidation among traders.
Bearish
Bitcoin’s 3% drop below $90,000 and over $214 million in recent liquidations signal sharply negative sentiment. Historically, rapid declines paired with high futures liquidation—such as during the May 2021 crash—have extended bearish momentum in the short term. While long-term holders may view dips as opportunities, current volatility and liquidation pressure suggest further downside risk before any sustained recovery.