Bitcoin Price News: New Lows Below $93K, but Local Bottom Could Be Near

Bitcoin (BTC) fell to a new six-month low below $93,000 on November 17, wiping out all its gains for 2025 and marking a 27% decline from its October peak. The cryptocurrency's price drop reflects worsening market sentiment, with BTC declining 2.4% in the past 24 hours and nearly 13% over the past week. Analysts from Bitfinex suggest that a local bottom may be forming as short-term holders experience capitulation. The fall was exacerbated by stronger economic data, diminishing the chances of a Federal Reserve rate cut. Additional technical headwinds include an unfilled futures gap around $91,970. Despite the bearish trends impacting associated equities, some Bitcoin miners tied to AI infrastructure posted gains following business developments. Analysts believe that as the realization of losses stabilizes, a rebound could be near, pending the capitulation of remaining short-term holders.

Source 🔗