Bitcoin (BTC) Price News: New Lows Below $93K, but Local Bottom Could Be Near, Analysts Say

On November 17, 2025, Bitcoin (BTC) fell below $93,000 for the first time in six months, marking a 27% decline from its October record high. This drop erased all gains made in 2025, with Bitcoin experiencing a total decline of nearly 13% over the past week. Analysts have pointed to a deteriorating crypto sentiment as contributing to this market slump. The downward trend was accompanied by bearish movements in crypto-related stocks, such as Coinbase and Galaxy, which similarly saw declines. Economic factors, including stronger-than-expected data which reduced expectations for Federal Reserve rate cuts, further pressured the market. Despite these challenges, analysts from Bitfinex speculate that Bitcoin may soon reach a local bottom as short-term holders capitulate. They note that sustainable recoveries typically occur after such capitulation events during market cycles. Technical analyses indicated potential downward pressure from unfilled futures gaps, with Bitcoin often retracing to these points. Overall, while the market currently trends downward, there are signs that the worst may soon pass, with accumulations potentially beginning to stabilize.

Source 🔗