Bitcoin’s sharp decline continues to rattle the market, with the world’s largest cryptocurrency dropping to the $92,500 region after losing one of the most important support levels of the cycle.
Key Takeaways:
- Bitcoin lost the crucial $93K support, triggering a wave of panic selling.
- Technical indicators flipped bearish, including the SuperTrend, RSI, and MACD.
- Institutional outflows intensified, with BlackRock reportedly selling Bitcoin through its ETF.
The $93,000 zone, which acted as a firm price floor for months, has now been decisively broken — and analysts warn that failure to reclaim it quickly could expose the market to a deeper correction.
The mood across crypto has shifted dramatically within days. A surge of sell signals across major technical indicators, combined with institutional outflows and worsening on-chain momentum, has forced traders to reassess the bullish outlook that dominated 2025 so far.
SuperTrend Flips Bearish — A Historically Painful Signal
Market analyst Ali highlighted that Bitcoin’s weekly SuperTrend indicator has officially switched to sell. This rare reversal last appeared during a previous macro correction in which BTC lost 67% of its value.
While history does not guarantee repetition, traders often view this signal as a strong warning of prolonged downside risk — especially during periods of declining demand and heavy spot selling.
SuperTrend just flipped to SELL!
The last time this happened, Bitcoin $BTC dropped by 67%. pic.twitter.com/7j2Otxdrt0
— Ali (@ali_charts) November 17, 2025
Institutional Pressure Builds — BlackRock Dumping Adds Fuel to the Fire
Adding to the concerns, data shared by Crypto Rover shows that BlackRock has been selling BTC aggressively through its ETF vehicle, sparking fears that other major issuers may follow suit. These institutional outflows come at a time when Bitcoin has underperformed U.S. Treasuries over the past year, reducing its appeal for conservative capital.
BLACKROCK IS AGGRESSIVELY SELLING BITCOIN! pic.twitter.com/As8SzikTyk
— Crypto Rover (@cryptorover) November 17, 2025
The turnaround in ETF behavior marks a stark contrast to earlier months, when consistent inflows were a driving force behind Bitcoin’s climb toward $125,000.
Momentum Indicators Collapse — RSI and MACD Confirm Downtrend
Spot charts reinforce the bearish sentiment:
• RSI has dropped to oversold territory, sitting near 29 — levels last seen during sharp market selloffs.
• MACD has extended its downward crossover, suggesting weakening momentum rather than a temporary correction.
Together, these signals point to fading buying strength rather than a quick rebound.
Pain Spreads Across Derivatives — Liquidations Spike
Volatility hit the futures market hard, with over $329 million liquidated in 24 hours — including $140.8M in long positions. Short liquidations reached $188.6M, indicating that sudden volatility is stunning both sides of the trade but hitting bullish positions disproportionately.
High liquidations typically emerge during trend reversals and can accelerate downside movements if panic selling increases.
Can Bulls Save the Trend? All Eyes on $93K — or Mid-$80K Becomes the Next Target
The $93,000 level was not just another round number — it was a structural support that protected Bitcoin for months. With that floor now broken, the burden is on bulls to quickly reclaim it.
If BTC fails to recover and consolidate back above $93K:
- mid-$80,000 becomes the next high-probability magnet, according to multiple market models
- a deeper breakdown would significantly increase the probability of a full macro bear market entering phase one
This scenario would mark the first major trend reversal since the 2024–2025 bull run began.
Outlook
Bitcoin is not yet in a confirmed bear market, but momentum has shifted rapidly. A decisive return above $93,000 could help stabilize sentiment — yet with institutional selling increasing and technical indicators turning sharply negative, the road to recovery may be more difficult than the market expected just weeks ago.
For now, one thing is clear: Bitcoin has entered one of the most critical moments of this cycle — and bulls are losing ground.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.