Bitcoin, the world’s largest cryptocurrency, has come under renewed pressure, slipping below $90,000 on November 18 for the first time in seven months. This steep decline has reignited debate over whether the drop is simply a temporary correction or the early phase of a new four-year cycle that could lead to a deeper, prolonged downturn. The token has erased all its 2025 gains and is now nearly 30% lower than its October peak of more than $126,000, falling around 2% to $89,953 during afternoon trading in Asia. Analysts point to growing uncertainty over potential US rate cuts and weakness across financial markets after an extended rally.
Avinash Shekhar of Pi42 said that Bitcoin’s fall toward $90,000 has intensified fear, with ETF outflows, whale-driven short positions, and reduced liquidity transforming what could have been a routine decline into a sharper correction. Other major tokens are also feeling the strain. Ether has dropped nearly 40% from its August high and was trading around $2,997, while XRP pulled back from the $2.30 resistance level amid heavy profit-taking.
Paras Gupta of CoinDCX added that the market is gripped by extreme fear, dragging altcoins below key support zones. He noted that negative Bitcoin futures and increased internal flows suggest long-term investors are reducing exposure. According to him, the downturn is driven more by sentiment and liquidity stress than by any fundamental breakdown in Bitcoin’s long-term outlook.