Bitcoin dropped below $90,000 on November 19, 2025, marking a seven-month low and extending a 30% drawdown from its early October record high of $126,000. The cryptocurrency fell as low as $88,522 during New York trading, while Ether declined over 6% to under $3,000. Crypto-related stocks also tumbled, reflecting broad market fear.
On Wednesday, November 19, 2025, Bitcoin resumed its decline after a brief outperformance against U.S. stocks the previous day, falling 4.2% in early U.S. trading to below $90,000. The price hit a low of $88,522, down 4% over the past 24 hours, with a trading volume of $71 billion and a market capitalization of $1.78 trillion from a circulating supply of 19.95 million BTC. Ether slid 6.5% to below $3,000. This 43-day drawdown ranks among the steepest since 2017, according to Vetle Lunde, head of research at K33, who described it as nearly 30% and one of the worst seven corrections lasting over 50 days since March 2017.
Crypto equities mirrored the downturn: MicroStrategy (MSTR) dropped over 8% to a one-year low, Bitfarms (BITF) fell 7.5%, Coinbase Global declined 4.9%, and others like Riot Platforms and Mara Holdings saw losses of 3.7% to 6.6%. The Crypto Fear and Greed Index remained in 'Extreme Fear' territory, with sentiment indicators near multi-year lows. Steady outflows from U.S. spot Bitcoin ETFs exacerbated the selloff, totaling nearly $2.3 billion over five sessions, including a record $523.2 million from BlackRock's IBIT on Tuesday. IBIT's average purchase price stands at $90,146, leaving investors underwater.
Lunde noted that Bitcoin swept lows below ETF average cost bases and predicted a potential bottom between $84,000 and $86,000 if mirroring recent deep drawdowns, or a revisit of April lows around $74,433 otherwise. Despite the rout, signs of accumulation emerged: MicroStrategy bought 8,178 BTC for $835.6 million at an average of $102,171, and Harvard Management increased its IBIT holdings to 6.8 million shares worth $442.9 million. Late in the day, prices climbed from lows after Nvidia's strong earnings forecast, countering AI spending concerns, though the overall $1 trillion wipeout across digital assets continued.
