Crypto Market Analysis: BTC Falls Below $90K This Week

Key Takeaways

• Crypto Market Analysis: BTC slipped below $90K as extreme fear returned, dragging total market cap to $2.96T.
• Altcoins posted broad 8–12% weekly losses under ETF outflows and weak liquidity.
• Fear & Greed Index hit 10, signaling capitulation-level sentiment across the market.
• Support zones: BTC at $83K, ETH at $2,650, SOL at $125, XRP at $2.00.
• ETF flows diverged: heavy BTC/ETH outflows but steady SOL inflows.
• Macro pressure intensified as unemployment reached 4.4% and Fed cut expectations dropped.
• Policy momentum grew through global regulatory updates, stablecoin pilots, and ETF narratives.
• December FOMC becomes the next major catalyst as traders position cautiously.

The market slid deeper this week as total capitalization dropped more than 9% to $2.96 trillion. Bitcoin led the decline from $96,000 to a low near $80,600 before lifting back toward $86,804. Ethereum, Solana, XRP, and BNB moved in the same direction with weekly losses of 8–12% as ETF outflows and thin liquidity capped every rebound.

The macro backdrop added pressure. The delayed US jobs report showed 119,000 new positions while unemployment rose to 4.4%, the highest level since 2021. Rate-cut expectations weakened and risk sentiment cooled. Tech volatility increased despite Nvidia’s earnings beat, and political developments added more uncertainty.

By 11/22, the Crypto Fear & Greed Index touched 10, a level often seen near capitulation points. The Altcoin Season Index closed at 23, signaling clear rotation into Bitcoin as traders reduced exposure to higher-beta assets. This recap highlights the shifts in price action, institutional flows, and policy signals shaping the final stretch of November.

Price Updates for Major Coins

Market weakness dominated the week, with sharp swings showing clear risk aversion. Prices as of November 24:

• Bitcoin (BTC): Began near $94,221 on 11/17, sank to $80,600 mid-week, then climbed to $86,804.85 by 11/24, slipping 1.12% on the day and 7.87% for the week.
• Ethereum (ETH): Hovered around $3,186 early on, then retreated under steady ETF withdrawals, closing at $2,830.64 with a 1.27% daily decline and an 11.1% weekly drop.
• Solana (SOL): Opened near $141, faced renewed pressure, and ended at $130.77, down 1.13% on the day and 7.4% for the week.
• XRP: Moved lower from $2.25 and settled at $2.0643 after a 1.42% daily dip and an 8.4% weekly slide.
• BNB: Fell from $926 and finished at $843, losing 1.28% on the day and 8.95% over the week.

These moves show a market hit by forced selling and rapid unwinding, with macro shocks driving sharp 24–48 hour drops across major assets.

Market Overview

The market lost about $260 billion in value this week, bringing total capitalization down to $2.96 trillion on 11/24. Liquidity also thinned as 24-hour volume slipped to $133.56 billion, marking a 19% weekly decline. The CoinMarketCap 20 Index inched up to $183.81 with a 1.13% daily move, though it still posted an 8.9% drop for the week, showing only limited rotation in an otherwise weak environment.

Image 1: The dashboard captures the overall risk-off tone. BTC trades near $86,804.85 after a 1.37% daily lift. ETH stands at $2,830.64 with a 1.27% increase. BNB shows $519.13, while SOL sits at $130.77 and XRP at $2.0643. The Fear & Greed Index reads 12 in deep red. Total market cap holds at $2.96T with volume at $133.56B. The chart shows a clear slide from $3.2T earlier in the week, paired with a 30-day trend ending 11/23. The Altcoin Season Index prints 23/100 under “Bitcoin Season,” and the CMC 20 Index sits near $183.81 through November’s volatility.

Image 2: Sentiment remains fragile. The dial points to 12, with recent readings at 10 yesterday, 17 last week, and 32 a month ago. The yearly chart tracks the index in yellow against BTC price in gray and market volume in green bars. The line falls from 87 on 11/24/2024 to 10 on 11/22/2025, mirroring Bitcoin’s dip below $90K.

Image 3: Bitcoin continues to lead the market. The gauge marks 24/100 with the slider firmly in “Bitcoin Season.” Historical prints show 24 yesterday, 30 last week, and 24 last month. The chart layers the index in blue over altcoin market cap in brown, both trending lower from a 12/4/2024 peak at 87 to a 4/26/2025 low at 12. Recent readings cluster in the 20–30 range heading into 11/17.

These dashboards show a market holding near capitulation levels. Fear is elevated, liquidity is thin, and rotation remains narrow as traders wait for clearer macro signals before taking on more risk.

Detailed Technical Analysis and Outlook

Bitcoin (BTC)

The key level on the chart is $83,000. This support has held several tests and remains the line that defines the current structure. A break below it with strong volume would likely pull the price toward $80,000 and possibly $75,000. On the upside, $96,000 stands as major resistance. It marks the top of the previous range and carries strong psychological weight. A clean close above that area would signal a real shift in momentum. At the moment, BTC trades near $86,800, sitting close to the lower edge of the developing base.

Recent action shows early signs of accumulation, with higher lows forming since the tap of $83,000. The structure is still fragile, as volume around $83,000–$87,000 reveals both fresh buying and older positions being reduced. It is not a confirmed reversal; it is only a potential foundation.

Technically, BTC stays below the 50-day and 200-day moving averages, both pointing downward. RSI sits near 29, showing heavy oversold conditions, though momentum has not turned. Volatility remains elevated, and bounce attempts still lack strong participation.

Fundamentals, however, remain firm. Long-term holders control over 70% of supply, miner activity is stable, and the network continues to expand. ETF outflows have eased, and there is no sign of broad institutional capitulation. Macro factors, including a softer dollar and rising expectations for 2026 rate cuts, offer some support, though global uncertainty still caps upside.

The most likely short-term scenario is continued movement inside the $83,000–$96,000 range while the market waits for a catalyst from Fed signals, ETF flows, or broader risk sentiment. A drop under $83,000 would likely unlock the next leg down. A push toward $96,000 is possible but will face heavy resistance.

The bias stays neutral with a slight bullish tilt as long as $83,000 holds. Long entries near this level need tight stops below $80,000. Short setups near $96,000 reward patience. Position sizes should stay small in this environment, and every trade needs volume confirmation.

Ethereum trades around $2,829 and is shaping a base after the sharp slide from the $5,000 zone in late October. Price holds above $2,650, a level that has anchored the chart since early 2024 and continues to attract buy interest. A clean break through this floor releases room toward $2,550 and $2,400. Upside momentum turns meaningful once ETH clears $3,000, a zone that marks both psychological and structural resistance, with follow-through targets at $3,200–$3,400.

Recent movement shows higher lows building from the $2,650 area. Volume across $2,650–$2,900 remains thick, reflecting active positioning from larger participants. ETH stays beneath both major moving averages, and the downward slope highlights ongoing trend pressure. RSI near 31 signals deep value conditions, while volatility stays wide, keeping traders alert for sharp swings.

The network maintains strong foundations. More than 29 million ETH is staked, reinforcing long-term commitment. DeFi TVL holds nearly $42 billion, and the upcoming Fusaka upgrade in December aims to cut fees by almost 40%, a clear catalyst for renewed activity across builders and users. ETF flows continue to rotate, while macro expectations for early-2026 easing create a supportive backdrop for risk assets.

Over the next sessions, ETH likely fluctuates inside the $2,650–$3,000 band as the market waits for stronger signals from liquidity, flows, and policy. A push toward $3,000 faces the declining 50-day EMA and a light volume profile, while holds above $2,650 encourage tighter structure and improved momentum.

Trading setups revolve around discipline. Long entries near $2,800 benefit from tight risk control below $2,600. Short setups around $3,000 favor patience, clean levels, and awareness of key macro events. Volume confirmation strengthens every approach, especially in a fast-moving environment like this.

Solana trades near $130 as it works to establish support after the rapid slide from the $300 region in late October. Price sits above the $125–$130 band, a zone that has anchored the chart since mid-2024 and forms the base of a broad range between $100 and $300. A push below $125 opens room toward $115 and then $100. Momentum turns constructive once SOL clears $175, an area that marks the upper edge of recent consolidation and the gateway to $200.

Recent candles show higher lows forming around $125, indicating steady accumulation. Volume between $125 and $150 remains active, revealing strong participation from larger holders. SOL trades under the 50-day and 200-day moving averages, both trending downward. RSI near 33 signals deep-value conditions, while wide volatility bands keep price movement sharp and fast.

Solana’s core metrics stay healthy. DeFi TVL holds around $13 billion, and network activity remains strong with more than one million active users. The Alpenglow upgrade scheduled for December aims to cut fees by roughly 40%, adding a clear catalyst for renewed activity. ETF flows stay modest, while a softer dollar and expectations for 2026 rate cuts create a steadier backdrop for risk assets.

Over the next sessions, SOL likely moves inside the $125–$175 channel as the market waits for stronger macro signals. The $175 zone carries resistance from the declining 50-day EMA and light volume on prior advances. Holding above $125 sets the stage for improved structure and cleaner trend development.

Trading setups favor discipline. Long entries around $130 benefit from tight risk control under $120 and smaller sizing. Short positions near $175 reward patience and clear levels, especially during periods of heavy news flow. Volume confirmation strengthens every approach in this fast-moving market.

XRP trades around $2.06 and shows firmer recovery momentum than most large-cap assets after sliding from the $3.50 area in late October. Price holds above the $2.00 support band, a zone that has anchored structure since early 2025 and forms the base of a broad range between $1.90 and $3.00. A move under $2.00 opens targets at $1.90 and $1.60, while $2.60 marks the ceiling traders are watching. Clearing $2.60 sets the stage for advances toward $2.80 and $3.00.

Recent candles show higher lows forming near $2.00, revealing steady absorption and stronger interest than what BTC or ETH exhibit in the same period. Volume across $2.00–$2.40 remains active, pointing to institutional involvement and robust positioning from larger holders. XRP trades beneath both major moving averages, which slope downward, and RSI near 39 signals cooling sell pressure as the market rebuilds momentum. Volatility bands stay wide, keeping movement fast and reactive.

XRP continues to benefit from clear real-world utility. SWIFT pilot flows of more than $5 trillion highlight strong alignment with traditional finance, and ODL volume near $1.3 billion reflects persistent demand from institutions. Market attention also circles around ETF-related developments, adding another potential driver. A softer dollar and rising expectations for early-2026 easing create a supportive backdrop, while broader geopolitical tension shapes liquidity across all risk assets.

Price action will likely rotate inside the $2.00–$2.60 channel over the coming sessions while traders track macro signals and sector-wide flows. The $2.60 zone carries historical resistance and the weight of the declining 50-day EMA. Holding above $2.00 strengthens the structure and improves the probability of cleaner upside setups.

Trading approaches revolve around precision. Long entries near $2.10 benefit from tight risk control under $1.90 and small sizing. Short setups around $2.60 reward patience and clear levels. Volume confirmation enhances every strategy in a market that moves quickly and reacts sharply to news.

Institutional Inflows and Developments

Outflows ruled: BTC ETFs -$903.2M (November 20), cumulative $1.5B+ weekly; ETH -$261.6M. SOL bucked with +$48.5M, +$20.1M. Buys: Abu Dhabi tripled IBIT to $518M; Metaplanet $150M BTC raise; Ark $42M crypto stocks; Strategy 8,178 BTC ($835M total HODL). El Salvador +1,098 BTC (7,474 total). Harvard’s $500M IBIT underscores endowment conviction.

Macroeconomic Backdrop

Jobs surprise (119K adds, 4.4% unemployment) dimmed cuts, FOMC minutes hawkish. Trump: $2K checks mid-2026, 50-year mortgages, Trump Accounts ($1K S&P seed). AI: Nvidia EPS beat (1.30 vs. 1.25), but layoffs loom (13% firms in 6 months). ECB pushes Euro stablecoins vs. USD dominance; Saudi $1T AI pivot.

Policy Wins and Updates

Davidson’s Bitcoin Reserve Bill: Treasury-managed strategic hold, tax-free BTC payments. Coinbase lobbies bipartisan infra law. Japan: 105 cryptos as traditional assets, 20% tax cut, insider ban. HK: Tokenized deposits live in Ensemble to 2026. Singapore: Perpetual BTC/ETH futures November 24. Czech BTC buys; JP stablecoin rollout.

Specific Themes

Ethereum Resurgence: EIL unifies L2s, staking ETFs yield boost; Lee: “Supercycle in 6-8 weeks,” akin 2017 ETH run.

Bitcoin Cycle: 30% correction normal late-cycle; Saylor: “Leverage unwind, not end”; Kim: $220K in 45 days. Dalio: Small allocation, quantum risks overblown.

Other News: DappRadar shutdown after 7 years; Visa stablecoins on SOL; NH BTC-backed bonds; Dar tokenizes $300M Trump resorts.

Conclusion

This week’s turmoil challenges conviction, yet core drivers such as ETF adoption, regulatory progress, and rapid youth participation continue to shape the long-term arc. Ray Dalio’s reminder still holds: markets ultimately return to their underlying trend. When fear reaches extremes, opportunity often sits close. The move into December’s FOMC meeting demands clarity, discipline, and steady positioning.