Bitcoin slipped below $90,000 on Tuesday, November 18, marking its lowest level since April and signaling a renewed risk-off phase across crypto markets.
Key Takeaways:
- Bitcoin fell under $90,000 for the first time since April, erasing a material portion of its October gains and pressuring broader crypto market caps.
- Momentum indicators suggest the market is nearing oversold territory, with RSI readings range around high 20s to low 30s, indicating short-term capitulation.
- Analysts point to caution around U.S. monetary policy outlook and reduced institutional risk appetite as drivers; recent liquidation events and weakness in listed crypto stocks have amplified the sell-off.
Bitcoin’s price dropped below the $90,000 mark on Tuesday as traders moved toward safer assets amid growing concern about the timing of future U.S. interest-rate cuts and weakening investor sentiment. Major price feeds recorded BTC trading around the low $89,000s during the early Asian session, representing a multi-percent decline on the day and a sharp slide from October highs above $126,000. The fall also coincided with heavy liquidation waves across derivatives markets and notable declines among crypto-linked equities.
Digital media platforms on X (formerly Twitter) like Watcher Guru have reported Bitcoin’s noticeable price decline, catching the attention of the crypto community and igniting a fierce debate over the asset’s true valuation.
Macro Pressures Add Weight to the Downtrend
Analysts attributed the downturn to a more hawkish macro backdrop. Cooling expectations around Federal Reserve easing, alongside recent soft inflow data from institutional desks, appear to have contributed to selling pressure. Reuters reported that institutional outflows and trimming by publicly listed crypto companies mirrored Bitcoin’s slide, reinforcing the negative feedback loop. Market watchers also pointed to breaks of key support zones that triggered algorithmic selling and added to the pace of the decline.
Bitcoin price decline chart. Source: CoinMarketCap
At the time of writing (8:30AM UTC), Bitcoin (BTC) is trading at approximately $91,128, reflecting a 4.73% price decline over the past 24 hours, logging intraday highs near $95,788 before touching intraday lows around $89,368.
Technical Indicators Signal Momentum Breakdown
The current short-term technical indicators favors the bears. Recent prints of the RSI(14) show values in the high 20s to low 30s, a zone traders typically view as oversold and potentially primed for short-term rebounds if demand returns. Aggregated moving-average models across major charting platforms continue to flash “strong sell” signals, with immediate support regions now being monitored near yearly lows. Traders are watching the 200-day moving average and broader trend structure for confirmation of whether the correction could extend toward the mid-$80,000 range.
Analysts Warn of Continued Volatility Ahead
“Low sentiment and uncertainty over the timing of interest-rate cuts are pushing investors into risk-off mode,” an analyst told Reuters. Strategists emphasized that although oversold signals could eventually prompt tactical buying, persistent macro uncertainty and elevated liquidation risks may keep volatility high in the near term. Until more supportive conditions emerge, whether from ETF inflows, improved liquidity conditions, or firmer macro guidance, traders may continue to brace for choppy price action.
Outlook
For now, Bitcoin remains vulnerable to new catalysts. A meaningful shift in macro expectations or a resurgence in institutional inflows could help BTC reclaim the $90,000 handle. Conversely, weak liquidity, further liquidation streaks, or worsening global risk sentiment could allow sellers to push prices toward deeper support clusters. Market participants are closely watching crypto portfolio flows, on-chain activity, and broader derivatives positioning to gauge whether the downturn is nearing exhaustion or preparing for another leg lower.
Summary
Bitcoin fell below $90,000 on Nov. 18, its lowest since April, as macro jitters, weakening institutional demand, and liquidation events drove a sharp pullback and elevated near-term volatility.
