Gold and silver’s relentless start to a year has taken out record after record, shocked seasoned traders and analysts, and driven exceptional price volatility.After capping their best years since 1979, gold has jumped another 24 per cent this month to top $5,500 an ounce, while silver surged 60 per cent to exceed $120 an ounce and extend a historic short squeeze. Investors piled into the time-honored havens amid concerns about currency debasement and the Federal Reserve’s independence, trade wars and geopol ...

Core Insights - November saw a record outflow of $3.79 billion from Bitcoin ETFs, indicating a strategic shift by long-term institutional investors rather than panic selling [1][6][10] - Bitcoin's price has experienced significant volatility, dropping from over $109,000 to a low of around $80,000 in November, with a slight rebound to near $90,000 [3][5][7] - The current market sentiment reflects weakening demand and caution among institutions, with a notable lack of crisis driving the outflows [2][8][9] Market Trends - Over the past three months, Bitcoin's price momentum has declined, with a peak of approximately $126,000 in early October followed by a drop of over 30% by late November [4][5][7] - Institutional investors, including BlackRock's IBIT, have shown a cautious approach, with significant withdrawals indicating a shift in how Bitcoin is perceived as a high-beta macro asset [9][10] Institutional Behavior - The outflows from Bitcoin ETFs are attributed to year-end tax selling, where investors locked in losses before the end of the year, reflecting a deliberate cooling of conviction rather than emotional selling [10] - The shift in strategy among long-term holders suggests a reevaluation of Bitcoin's role in portfolios, with adjustments based on macroeconomic signals rather than maintaining long-term allocations [6][9] Future Outlook - The market is closely monitoring whether Bitcoin can hold above $90,000, with key resistance levels identified between $93,000 to $96,000 and $100,000 to $108,000 [15] - Analysts predict that a combination of Federal Reserve rate cuts, a reversal of ETF outflows, and Bitcoin breaking above $100,000 could lead to a price range of $150,000 to $200,000 by mid-2026 [16][18] - A more conservative outlook suggests Bitcoin may trade between $100,000 and $130,000 through most of 2026, assuming modest Fed rate cuts and stabilized ETF flows [20]

Market Overview - The cryptocurrency market experienced a significant selloff on November 21, 2025, with a total market cap dropping 6% to $2.9 trillion, falling below the $3 trillion mark for the first time in five months, which is a critical psychological level for investors [1][5] - Total liquidations reached $1.91 billion, with long positions suffering the most at $1.78 billion compared to $129 million in shorts, indicating a heavy bias towards bullish positions among traders [3][20] Major Liquidations - Bitcoin led the liquidations with $960 million, followed by Ethereum at $403 million, with the largest single liquidation being a $36.78 million BTC position on Hyperliquid [2][4] - A total of 391,000 traders lost positions during this selloff, highlighting the widespread impact on the market [3][4] Price Movements - Bitcoin fell to $81,050, its lowest level since April, while Ethereum dropped below $2,900, marking a 10% decline [4][17] - Other major tokens like Solana, XRP, and Binance Coin experienced losses ranging from 20% to 35% from their November highs [4][18] ETF Outflows and Market Liquidity - Bitcoin ETFs recorded $3.79 billion in net outflows for November, surpassing the previous record of $3.56 billion in February, with BlackRock's IBIT seeing $2.47 billion in redemptions [9][11] - The outflows significantly reduced market liquidity, exacerbating the selling pressure as fewer buyers were available to absorb the sell-off [11][20] Market Sentiment and Psychological Factors - The Crypto Fear & Greed Index fell to 11, indicating extreme fear among investors, a level not seen since the FTX collapse in November 2022 [4][6] - Market psychology shifted negatively, with even neutral news interpreted unfavorably, contributing to the overall panic [14] Technical Analysis and Support Levels - Bitcoin struggled to maintain the $100,000 level and dropped below $85,000, with analysts warning that falling below $80,000 could trigger significant losses due to institutional buying levels [7][8] - The breakdown of key support levels triggered automated sell orders, creating a feedback loop that accelerated losses [8][20] Comparison to Previous Events - The November selloff, while substantial at $2 billion in liquidations, was less severe than the $19 billion wiped out on October 10, which was driven by a macro shock combined with technical selling [19][21] - The current selloff was characterized as a mechanical deleveraging, with automated liquidations amplifying the downward pressure on prices [20]

ETF outflows and macro data keep traders guarded as bitcoin's 'gentle recovery' extends: analysts https://t.co/ClSIg9C1Y0 ...

📰 CRYPTO DAYBOOK AMERICAS: Your day-ahead briefing for crypto markets where Crypto is the "Canary in the Coalmine," as Bitcoin plunges 28% to $82k and record ETF outflows signal looming macro stress.Catch today's briefing: https://t.co/bSDj2OD1VVPresented by @Grayscale. https://t.co/kXBp8Zz7Nz ...

Boomers learning about Bitcoin volatility in real timeThey are selling in drovesETF outflows are INSANEVery very goodWE WILL BE BUYING BITCOIN CHEAP IN 2026!!!!Jim Bianco (@biancoresearch):The average Spot BTC ETF holder is now in the red. https://t.co/fMb5ln2we7 ...

QCP notes that Bitcoin briefly fell below $90K this week, pressured by cooling expectations for a Fed rate cut and continued ETF outflows. Lower liquidity further amplified the decline. Fed Chair Powell reiterated that a December rate cut is “not guaranteed.” Markets are closely watching this week’s labor data and leading indicators to assess whether Bitcoin’s pullback is a short-term positioning adjustment or the start of a broader risk-off shift.https://t.co/esxQ4DAuN1 ...

Market Trends & Bitcoin Performance - Bitcoin fell below $92,000, down over 27% from its all-time high last month [1] - Bitcoin is moving in lock step with the S&P 500, not acting as a safe haven during market selloffs [2] Institutional & Retail Investor Behavior - Spot ETFs experienced their worst week of outflows since February [2] - Institutional buying, previously a critical support for Bitcoin's price, is absent [1] - Neither retail nor institutions are buying the dip, contributing to the continued decline [4] Crypto Equities & Digital Assets - Crypto-pegged equities are declining, including Coinbase, Bullish, and Robin Hood [3] - Digital asset treasury names like Tom Le's, Bitmine, Immersion, and Strategy are also plunging [3] Contributing Factors - Forced liquidations and shallow liquidity are exacerbating Bitcoin's fall [4]

🚨 LATEST: Crypto executives speculate on Bitcoin's slump below $94K, citing ETF outflows, whale sales, and geopolitical tensions.Is this a normal correction or something more? https://t.co/WRTkKfeINK ...

Market Sentiment and Bitcoin Performance - Bitcoin dipped below $95,000, driving the Bitcoin fear and greed index to a level of 10, unseen since the FTX collapse of 2022 or the COVID pandemic crash of 2020 [1] - The Bitcoin fear and greed index reached 10, compared to 24 during the liberation day tariff announcement [2] - The market is uncertain whether the current Bitcoin price and fear/greed index of 10 represents a buying opportunity or indicates a further 50% pullback [3] Factors Contributing to Market Decline - Bitcoin's decline is attributed to US liquidity stress, long-term Bitcoin holders taking tax-driven profits, and persistent American selling [4] - November could become Bitcoin's biggest ETF outflow month ever, with mid-month outflows already hitting 23 billion [5] - ETF outflows are contributing to the weakness, with the largest daily outflows since their inception [6] - Lack of new marginal buyers is contributing to rangebound trading and weakness, with a $93,000 level identified as a potential air pocket [7] - Government shutdown-induced liquidity crunch in America is impacting crypto markets, especially on weekends [10] Potential Catalysts and Market Outlook - The timing of government liquidity reopening is crucial, with expectations that it may take another month or two to be felt [8] - The possibility of the Fed cutting rates is uncertain, but a rate cut is needed to support asset prices [9] - Sellers eventually have to be exhausted after altcoin profits are plummeting, with only 5% of altcoin investors in profit [11] - A new narrative is needed, not just for crypto, but for why markets would go up and why the American economy would be good in the following months [15] - Treasury Secretary Scott Bessent signals a potential acceleration in the economy in the first and second quarter, with Americans feeling it in 2026 due to President Trump's plans [16][17]