Bitcoin News Today: Bitcoin’s Death Cross and Tightening Liquidity Spark Renewed Concerns of a 2022-Style Crash

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Bitcoin News Today: Bitcoin’s Death Cross and Tightening Liquidity Spark Renewed Concerns of a 2022-Style Crash

Bitget-RWA2025/11/17 17:08

By:Bitget-RWA

- Bitcoin fell below $94,000 on Nov 16, triggering a "death cross" bearish signal linked to 2022's FTX collapse. - Market value dropped $340B since Oct 10 due to Trump-era tariffs and risk-asset rotation, with 815,000 BTC sold by long-term holders. - Stablecoin supply contracted for first time in two years, while technical indicators show Bitcoin trapped below $110,000 200-day average. - $1.1B in 24-hour liquidations and Fear & Greed Index at extreme fear (10) mirror 2022 crisis conditions. - Analysts warn

Bitcoin's value continues to struggle as a result of profit-taking, declining liquidity, and technical setbacks, with experts highlighting more profound changes within the cryptocurrency sector. The leading digital asset

dropped below $94,000 on November 16

, resulting in a "death cross" when its 50-day moving average slipped under the 200-day average—a bearish pattern last observed during the FTX collapse in 2022. This decline comes after

$340 billion in market capitalization was wiped out since October 10

, fueled by tariff shocks from the Trump era and a larger shift away from riskier investments.

The downward trend has accelerated as long-term holders rush to secure profits. Glassnode data reveals

more than 815,000 bitcoin offloaded by long-term investors

over the past month, the highest since early 2024. At the same time, the supply of stablecoins—often seen as the backbone of crypto liquidity—

has shrunk for the first time in two years

, suggesting a slowdown in new capital entering the market. "The market is obviously not prepared to shift into a phase of rampant optimism," commented Alex Kuptsikevich of FxPro,

pointing out that institutional buying has diminished

Technical signals indicate further weakness.

Bitcoin

continues to trade below its 200-day moving average ($110,000),

a level seen as essential for a lasting recovery

. The death cross, along with a breach of the 50-week simple moving average, has many traders anticipating additional losses. "This removes a significant demand area," stated Omkar Godbole of CoinDesk,

comparing the situation to MicroStrategy's (MSTR) recent downward trend

. Should the $100,000 support level give way,

the next likely targets are $86,000 and $82,000

, which correspond to important moving averages.

Market mood is reminiscent of the FTX crisis period. More than $1.1 billion in positions were liquidated within 24 hours on November 14, with $968 million coming from long trades—drawing parallels to the turmoil of 2022

according to analysis

. The Fear & Greed Index plunged to an extreme fear level of 10, while large holders selling and ETF outflows are adding to the downward momentum

according to data

. "Sentiment hasn't been this negative since 2022," remarked analyst Negentropic

according to market reports

Although past death crosses have sometimes signaled short-term bottoms, the broader economic environment in 2025 makes predictions more complex. Mario Nawfal's research

points to mixed results

: while rebounds over 2–3 months have averaged 15–26%, the 12-month outlook remains highly unpredictable. Technical analyst Colin

expects a further drop to $70,000

if the death cross leads to a capitulation phase. On the other hand, a quick recovery above $107,250 could spark renewed

bullish momentum

toward the $115,600–$118,000 range

according to market analysis

With liquidity becoming scarcer and institutions growing more cautious, the market is at a pivotal moment. As George Mandres from XBTO Trading put it, "It feels like a dead cat bounce," as crypto's status as a risk-on asset fades amid greater macroeconomic uncertainty

according to market commentary

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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