Bitcoin News Today: Bitcoin Faces $90K Challenge: Institutions Remain Wary While Whales Continue to Buy

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Bitcoin News Today: Bitcoin Faces $90K Challenge: Institutions Remain Wary While Whales Continue to Buy

Bitget-RWA2025/11/18 19:40

By:Bitget-RWA

- Bitcoin dips below $90,000 as Galaxy Digital sells 2,800 BTC, reflecting institutional caution amid $600B market value loss since October peaks. - Bearish pressure intensifies from fading Fed rate-cut hopes, inflation, and trade tensions, with ETF outflows and whale accumulation contrasting market weakness. - Analysts diverge: Galaxy cuts 2025 BTC target to $120,000 while JPMorgan/Saylor remain bullish, contrasting Bloomberg's warnings of further downside despite strong network metrics. - Retail fear nea

Bitcoin's drop below $90,000 has deepened the ongoing bearish trend, as

Galaxy Digital Inc.

(NASDAQ:GLXY) offloaded 2,800

BTC

in a move reflecting increased caution among institutional investors. The company's shares opened sharply lower on Friday at $25.13, compared to the previous close of $27.24,

with trading volume surging to 3.81 million shares

. This sale comes as

Bitcoin's market capitalization has shrunk by $600 billion since peaking at $126,000 in October

, with the digital asset now more than 26% below its recent highs.

The downturn has been driven by several factors, such as diminishing expectations for a Federal Reserve rate cut, persistent inflation, and rising global trade disputes.

Bitcoin briefly touched a six-month low of $92,971 on Friday

, wiping out all gains made this year and marking its third straight week of losses. At the same time,

Bitcoin-focused exchange-traded funds (ETFs) experienced $870 million in net outflows

on Thursday—the second-largest single-day withdrawal since their launch—adding to the downward momentum.

There has also been a shift in activity among large investors and institutions. While U.S. spot BTC ETFs such as BlackRock's IBIT and Fidelity's FBTC initially saw strong demand, recent flows have reversed direction.

Analysts from TradingView and CoinGlass highlighted a $240 million net inflow

on November 6, a rare positive indicator in an otherwise bearish market.

Bitcoin News Today: Bitcoin Faces $90K Challenge: Institutions Remain Wary While Whales Continue to Buy image 0

Blockchain data shows that Bitcoin whales (wallets with 10,000–100,000 BTC) continued to buy

, averaging $1.96 million per transaction in October despite turbulent market conditions.

Experts remain split on what lies ahead.

Galaxy Digital has recently revised its 2025 BTC price forecast down to $120,000

after noting significant whale selling during October's slump, while others, including JPMorgan and Michael Saylor, remain optimistic, pointing to historical halving cycles and the possibility of monetary easing. On the other hand,

Bloomberg Intelligence has cautioned about further declines

, emphasizing that Bitcoin is currently the weakest among risk assets, even as its network fundamentals remain solid.

Sentiment among retail investors has taken a sharp turn for the worse, with

CoinMarketCap's fear and greed index approaching "extreme fear" territory

Institutional involvement has also decreased

, as crypto market liquidity has dropped by 30% from its 2025 high.

Traders are increasingly seeking protection against price swings

, with options markets seeing a spike in open interest for bearish contracts at $85,000 and $90,000 strike prices.

The vulnerability of the market is further illustrated by the difficulties faced by

Bitcoin

holding firms like Strategy Inc., whose enterprise value now risks dipping below the $60 billion value of its BTC reserves. Michael Saylor, the company's co-founder, has encouraged investors to "hodl" during the downturn, even as his company's stock has fallen over 30% this year.

As Bitcoin endures its weakest stretch since the 2024 halving, its future direction will depend on clearer macroeconomic signals and a return of institutional capital.

With key support levels between $90,000 and $100,000 under close observation

, the cryptocurrency stands at a pivotal moment in its effort to regain broader acceptance.

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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