As an investor who has experienced several market cycles, I am observing a unique situation: Bitcoin has broken through the psychologically important $90,000 mark for the first time in seven months. It is currently fluctuating in the $89,000\u2013$93,000 corridor, which is almost 30% below the October peaks above $126,000.
\nEthereum has also shown weakness, falling below $3,000 and trading in the $2,900\u2013$3,050 range. Compared to the August highs, the pullback has been 35\u201340%, reaching four-month lows.<\/p>\n
Over the past month and a half, the crypto market has lost over $1\u20131.2 trillion in capitalization. The total market capitalization has shrunk from $4.4 trillion to $3.1 trillion \u2013 this is a serious blow to investor sentiment. <\/p>\n
From my experience, I note: uncertainty regarding the Fed’s rate cuts, a strengthening dollar, and the yield on 10-year Treasury bonds above 4% have pushed investors away from speculative assets. The risk-off sentiment observed in November has increased pressure on cryptocurrencies. <\/p>\n
The largest US Bitcoin ETF, IBIT, recorded an outflow of approximately $1.6 billion from October 30 to November 17. As a result, over the past few weeks, more than $2 billion has been withdrawn from cryptocurrency investment products \u2013 this is a notable reversal after periods of inflows. <\/p>\n
Intensive use of leverage has exacerbated the fall. In recent sessions, hundreds of millions in BTC and ETH have been liquidated. Bitcoin’s break below $90,000 is being called by many part of the “Great Crash of 2025<\/em>,” which has wiped out the year’s profits. <\/p>\n A 25\u201330% drop from the highs and a loss of over $1 trillion in capitalization \u2013 now BTC is underperforming even bonds and gold. This has reinforced expectations of a deep correction rather than a short-term pullback. <\/p>\n If selling continues, this is the next main decline zone <\/p>\n The first psychological zone after losing the six-figure level <\/p>\n Area of recent liquidation clustering <\/p>\n The first obstacle for a significant recovery <\/p>\n Bitget demonstrates reliability with reserve ratios: BTC: 307%, ETH: 224%, USDT: 105%, USDC: 129%. The platform ensures transparency and security of funds, complemented by a Protection Fund of 6,500 BTC \u2013 one of the largest in the industry. Join the leading crypto exchange today: https:\/\/bitget.com. <\/p>\n Information is provided for educational purposes only and is not financial advice. Cryptocurrency trading involves risks. Trade responsibly.<\/em><\/p><\/blockquote>\nPsychological Shock: Trend Change<\/h4>\n
Critical Levels: Where Are the Turning Points?<\/h2>\n
Bitcoin (BTC)<\/h3>\n
Current Spot Zone: $89,000\u2013$93,000<\/h4>\n
Key Support: $84,000\u2013$86,000<\/h4>\n
Resistance: $95,000\u2013$100,000<\/h4>\n
Ethereum (ETH)<\/h3>\n
Current Spot Zone: $2,900\u2013$3,050<\/h4>\n
Support: $2,800\u2013$2,900<\/h4>\n
Resistance: $3,000\u2013$3,100<\/h4>\n
Platform Selection Recommendation<\/h2>\n