Bitcoin Drops 1.11% as Multi-Chain Growth Accelerates and New Regulatory Measures Emerge

Bitcoin Enhances Cross-Chain Reach Through Hashport Collaboration

Bitcoin.ℏ (BTC.ℏ) has revealed a significant partnership with Hashport, a leading interoperability platform, to facilitate effortless cross-chain operations. This alliance enables

.ℏ to move fluidly among major blockchain networks such as , Base, Polygon, Chain, and Avalanche. This step represents a major leap for the quantum-resistant digital asset, boosting its liquidity, reach, and appeal to developers. By utilizing Hashport’s robust framework, BTC.ℏ owners can now transfer their tokens between chains, unlocking fresh possibilities in decentralized finance (DeFi), gaming, and micropayments.

Pursuing Global Digital Value Without Borders

This alliance mirrors the industry’s broader shift toward interoperability, connecting previously siloed blockchains. For BTC.ℏ, which prioritizes sustainability and microtransactions, this integration shifts it from a single-chain token to a globally usable digital asset. Developers on various networks can now incorporate BTC.ℏ into their applications, broadening its utility beyond

and into the wider DeFi and Web3 landscape. This move supports BTC.ℏ’s goal of providing a secure, energy-efficient alternative to conventional transactions, leveraging Hedera’s hashgraph for improved performance.

Regulatory Update: U.S. Considers Bitcoin for Tax Payments

In a noteworthy policy shift, the U.S. House has introduced the “Bitcoin for America Act,” which would permit citizens to pay federal taxes using Bitcoin. The bill connects tax payments directly to the Strategic Bitcoin Reserve, established by President Trump in 2025. By removing capital gains tax on BTC payments, the legislation aims to simplify crypto tax rules and encourage wider adoption. Supporters believe this move positions Bitcoin as a vital national asset, providing a hedge against inflation and long-term economic advantages. This initiative underscores Bitcoin’s expanding role beyond investment, indicating its deeper integration into government functions.

Institutional and Market Sentiment at Odds

Despite these positive changes, Bitcoin’s value continues to fall. As of November 22, 2025, BTC declined by 1.11% in 24 hours to $84,016.77, with an 8.71% drop over the past week and a 23.2% decrease for the month. A key factor in this downturn is the record withdrawals from U.S. spot Bitcoin ETFs. BlackRock’s IBIT ETF alone saw $355.5 million in net outflows on November 21, according to Farside Investors. Total ETF outflows reached $3.79 billion in November, the highest ever, highlighting institutional caution amid economic uncertainty and volatile markets.

Technical Analysis Points to Bearish Trend

Technical indicators reveal that Bitcoin is entering a downward trend. The occurrence of a “death cross”—where the 50-day moving average dips below the 200-day moving average—has historically signaled the end of bullish periods. On-chain metrics indicate $800 million in realized losses over the last week, with short-term investors driving the sell-off. Experts caution that unless there is a rapid recovery, Bitcoin could test support near $74,500. Bloomberg’s Mike McGlone, a veteran Bitcoin analyst, noted that this decline is part of a broader market correction, drawing comparisons to bear markets in 2014, 2018, and 2022. He identified $70,000 as a crucial support level for BTC.

Large Holders and Institutional Moves

Blockchain data also highlights notable activity from major investors. A new whale deposited 1.7 million

into HyperLiquid to open a 20x leveraged long position on 104.36 BTC at an average price of $84,400.4. This action signals optimism about Bitcoin’s long-term prospects, despite the current bearish market. The whale’s position is currently up $43,000 in unrealized gains, with another account from the same entity already securing $705,000 in profits. This suggests that while the short-term outlook is cautious, some institutional and wealthy investors are positioning for a possible rebound.

Summary: A Defining Period for Bitcoin

Bitcoin’s latest developments illustrate a complex mix of technological progress, regulatory changes, and shifting market sentiment. The Hashport integration and the proposed U.S. tax legislation both reflect increasing institutional and strategic interest in Bitcoin. However, these advancements must be balanced against the prevailing bearish market trend. As the cryptocurrency sector evolves, the adaptability and scalability of projects like BTC.ℏ will be crucial for future success. For now, Bitcoin’s price direction remains uncertain, with technical and on-chain data indicating a potentially prolonged bearish phase.