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Bitcoin News Today: Bitcoin’s Bull Run Falters as Institutional Interest and Market Liquidity Wane

Bitcoin News Today: Bitcoin’s Bull Run Falters as Institutional Interest and Market Liquidity Wane

Bitget-RWA2025/11/19 18:24
By:Bitget-RWA

- Bitcoin breaks below 365-day moving average, signaling bearish market structure and extreme technical weakness. - Institutional demand collapses as treasury firms cut BTC purchases, while spot ETFs see $373M outflows in one day. - Bull Score Index hits 20/100 historical lows, with $90K-$92K support and $102.6K resistance now critical price levels. - Market debates if this marks the end of the 4-year bull cycle, amid Fed uncertainty and vanishing liquidity sources.

Bitcoin has entered its most negative phase since the 2023 bull run began, having fallen below its 365-day moving average—a crucial technical threshold it had maintained during all previous corrections in this cycle.

, this breakdown marks a significant change in market dynamics and has heightened concerns among experts about whether current trends can persist . As of late November, with a price of $89,376, is under increasing pressure after dropping 28% from its recent peak, now testing support in the $90,000–$92,000 range .

Technical signals suggest a bleak outlook. CryptoQuant’s Bull Score Index has plunged to 20 out of 100, a level that typically signals intense bearishness, fueled by declining spot demand, negative price trends, and stagnant growth in stablecoin liquidity

. The 365-day moving average, which served as a support during the 2022 bear market, now acts as a resistance near $102,600 . At the same time, Bitcoin’s inability to remain above its 200-day exponential moving average—a key part of a
Bitcoin News Today: Bitcoin’s Bull Run Falters as Institutional Interest and Market Liquidity Wane image 0
“Death Cross” formation— .

On top of technical weakness, demand-side challenges are mounting.

by 70–90%, leaving them unable to make additional BTC acquisitions. Companies like Strategy, once the most consistent buyers, have drastically reduced their purchases the value of their Bitcoin holdings. With this demand evaporating, the market has become more exposed, and institutional players are also pulling back. On November 19 alone, Bitcoin spot ETFs saw $373 million in outflows, from a high of $170 billion in early October.

Bearish sentiment is not limited to Bitcoin.

and are also trading lower, with Ethereum ETFs experiencing sustained outflows and open interest in XRP derivatives remaining close to $3.85 billion . Despite regulatory progress, stablecoin liquidity—a crucial factor for crypto growth—has stalled. , reported its quarterly profits tripled, but faces increased scrutiny as USDC’s expansion slows.

There is ongoing debate among market participants about whether this signals the conclusion of the current four-year bull run or simply a delayed continuation into 2026. Historically, Bitcoin’s cycles have coincided with halving events, but

that institutional demand—like that from Treasury entities—can disappear rapidly. The Federal Reserve’s unclear timeline for rate cuts and declining retail interest .

Bitcoin’s recent breakdown highlights the vulnerability of a market still contending with macroeconomic challenges and structural changes. With major technical supports breached and sources of demand fading, the road to recovery appears uncertain.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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