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Bitcoin Updates: U.S. Market Pessimism Contrasts with Asian Confidence as Bitcoin Drops Near $85,000

Bitcoin Updates: U.S. Market Pessimism Contrasts with Asian Confidence as Bitcoin Drops Near $85,000

Bitget-RWA2025/11/21 03:54
By:Bitget-RWA

- Bitcoin's price fell to $85,000 in Nov 2025, down 7% in 24 hours and 20% monthly, driven by dormant wallet sales and bearish derivatives bets. - Surging sell pressure from inactive wallets and rebalanced derivatives toward puts highlight deteriorating market structure and liquidity. - Fed rate-cut uncertainty and regional divergences—U.S. bearishness vs. Asian buying—exacerbate volatility amid $565M in liquidations. - Analysts split on recovery: some see consolidation near $85K-$100K, others warn of a po

In early November 2025, Bitcoin's value plunged to just above $85,000, reflecting a 7% drop within a single day and a 20% decrease over the last month,

. This downturn has been fueled by a combination of factors, such as a wave of selling from previously inactive wallets, evolving macroeconomic forecasts, and a significant shift in derivatives markets toward bearish positions. Experts and liquidity providers caution that the market's structure is weakening as heightened volatility is expected toward the year's end.

The downward pressure has intensified due to a sudden surge of

moving from long-inactive wallets to major exchanges, with tens of thousands of coins—some untouched for years—now entering circulation. that this influx has outpaced buyer interest, heavily tilting spot markets in favor of sellers. Deribit’s data further highlights the negative outlook, as put options now outnumber calls, signaling traders are bracing for further declines. The $85,000 put option on Deribit alone has amassed $2.05 billion in open interest, .

Bitcoin Updates: U.S. Market Pessimism Contrasts with Asian Confidence as Bitcoin Drops Near $85,000 image 0
Broader economic trends are worsening the bearish sentiment. has unsettled riskier assets, with the odds of a December rate reduction dropping from over 60% to 43% recently. At the same time, tighter monetary conditions and increasing credit risks have prompted investors to move away from volatile assets like cryptocurrencies,
. Liquidity in the market has also diminished, .

Regional differences are further complicating the situation. While U.S. trading hours have seen consistent selling, Asian markets have acted as a stabilizing influence, buying on dips and helping prices recover. This split demonstrates differing risk preferences,

—as shown by the extended negative readings of the Coinbase Premium Index—while Asian investors are treating the price drop as a buying chance. that Bitcoin’s bull run essentially ended in 2024, with institutional buying establishing a practical support level near $56,000.

Market fear has reached extreme highs.

, its lowest point since July 2022, amid $565 million in liquidations over 24 hours. , offloading coins at a loss as the Spent Output Profit Ratio repeatedly dropped below 1. Nevertheless, the Realized Cap metric shows that new money is still entering the market, with ETF investors’ average cost basis at $86,680
.

Technical experts are split on what comes next. Some, including Cas Abbé, see similarities to the bullish reversal pattern from the first quarter of 2025, suggesting that a consolidation phase between $85,000 and $100,000 could set the stage for another upward move

. Others caution that a steeper drop could be ahead, with one analyst warning of a possible fall to $30,000 if the current downward wedge pattern persists
.

0

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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