Bitcoin plunges below 93,000 for the first time since April 28th, 2025. In the daily chart, a death cross formed as the 50MA has finally crossed below the 200MA. Major cryptocurrency media reported that $100,000,000 worth of crypto longs had been liquidated in the past 60 minutes. In November, we have seen 3 trading days with liquidations exceeding $1 billion.
The previous death cross in Bitcoin (BTC) formed on August 10th, 2024. Since 2023, bitcoin charts formed four death crosses that marked local bottoms and not tops.
As of writing Bitcoin price trades at $93,369, meaning that all gains for the year, erased. Strong selling pressure started on November 11th, following an all-time high of 126,000 on October 6th, 2025. Bitcoin’s sentiment is at the lowest level in over a year and the fear and greed index is at 10, the lowest level since February.
The question at this point is – can BTC produce enough momentum in the coming weeks to invalidate this weekly close below the 50 SMA and turn the SMA into support?
Bitcoin Critical Levels to watch
Bitcoin BTCUSD in Asian trading session managed to rebound from yesterday’s low with a gain of 1.01% in the last hours, but continuing a broader downtrend with a 9% weekly drop and 10.50% monthly decline. Recent price action has been bearish, triggered by weak global risk appetite and $3 billion in ETF outflows in November.
Bears are looking for the CME gap around $92,000, while a break below that area might meet a strong support at 87,200, the low from April 22, 2025. On the upside bulls, need to recapture the $99,000 psychological level, which is the top from Friday, November 11, 2025. Bulls will take short-term control only if the price breaks above $109,000 the 50-day SMA.
We can not rule out a consolidation phase between $94,000 to $100,000 until macro catalysts such as FED rate cuts or regulatory news hit the wires.
The next Federal Open Market Committee (FOMC) meeting is scheduled for December 9–10, 2025
Nikolas has been involved in the finance industry for over fifteen years spanning across Europe and USA with a depth of knowledge and experience within many aspects of the financial markets. Nikolas gained several years experience with some of the Europe’s leading Brokers, as equity analyst, and trader managing accounts for both Private and Corporate Investors. He enjoys both the fundamental and technical aspects of trading focusing on stock markets and all FX majors. Currently, Nikolas provides analysis and comments to online financial publications. Educational background in Economics (BSc), and Finance (MSc).
