Crypto Crash! 📉 Did Your Wallet Survive?

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Right, so Bitcoin decided to have a bit of a lie-down. A rather dramatic lie-down, actually. It plummeted to $91,545 on Tuesday morning, which, if you’re keeping score (and honestly, who isn’t these days?), is a six-month low. Ethereum wasn’t feeling too chipper either, slipping below $3,000. A generally dismal showing, all around.

This little wobble happened to coincide with the regular markets doing their own version of a panic attack. Apparently, everyone’s a bit gloomy. Who knew?

Market Plunge Erases Weeks of Gains

Bitcoin lost 3.21% on November 17th – nearly a quarter of its value since October! Ethereum fared even worse, tumbling 4.22% to $2,978. Other cryptocurrencies, the poor things, weren’t spared either. Solana took a bruising (down 22.51%), XRP slid, and Cardano… well, let’s just say Cardano wasn’t having a good week, either. 📉

But wait, there’s more! The S&P 500 and Nasdaq decided to join the party, both taking a hefty tumble. They even managed to fall below their 50-day moving averages, a feat not seen since…well, let’s just say it’s been a while. They’re a bit grumpy about it, I imagine.

The Dow Jones joined in the fun, falling by over 550 points, all because investors were nervously awaiting news from Nvidia. Apparently, everyone’s suddenly very interested in graphics cards. Technical analysts, those oracles of doom, are predicting further declines. Investors are scrambling for the relative safety of healthcare and energy, which, frankly, sounds exhausting.😴

Bitcoin CME Gap Closes After Seven-Month Overhang

Now, things get a bit technical. Apparently, Bitcoin has finally filled a rather large CME futures gap (near $92,000). It’s like finally closing a tab you forgot about months ago. A crypto expert, DaanCryptoTrades, confirmed this and said the risk is now eliminated… but, naturally, warned that things could still get worse. Because why wouldn’t they?

So, what does this all mean? Well, no one really knows. Traders are standing around looking perplexed, wondering what to do next. It’s a bit like being at a party where everyone’s pretending to have a good time, but secretly wishing they were at home with a cup of tea.

Macro Headwinds and Fed Rate Cut Uncertainty

Adding to the general malaise are wider economic signals. Something called the Empire State Manufacturing Index went up, which apparently reduces the chances of the Federal Reserve cutting interest rates. Consequently, everyone is a bit baffled. Market probabilities are shifting faster than you can say “quantitative easing.” 🤷‍♀️

Research firm 10X Research did some number crunching and discovered that new buyer activity has ground to a halt. The Fed’s signals aren’t helping, and they warn of potential “liquidations,” which sounds alarming and vaguely unpleasant. The industry’s sentiment? Not great, Bob. Not great.

On-Chain Signals Point to Capitulation Phase

Apparently, some clever people are looking “on-chain” at things. They’ve discovered that short-term holders are “capitulating” – which, in plain English, means they’re selling in a panic. History suggests this often happens before a market bottom, but a recovery requires long-term investors to step up, and that’s not guaranteed. 🤨

Analyst Benjamin Cowen suggests Bitcoin might test that 200-week moving average between $60,000 and $70,000. But he also thinks there might be a temporary bounce. Everyone has an opinion, which is incredibly helpful. (Not.) Another analyst, Roman Trading, thinks $76,000 is the next support level. Honestly, it’s all a bit dizzying.

While I think Bitcoin will go to the 200W SMA ($60k-$70k) in 2026, there is a high probability it will have a bounce back to the 200D SMA before going that low.

All prior cycle bear markets were confirmed by a macro lower high at the 200D SMA.

– Benjamin Cowen (@intocryptoverse) November 17, 2025

So, the coming days will tell. Will Bitcoin hold above $90,000? Will sellers continue to prevail? Economic data, central bank pronouncements, and institutional flows – it’s all up in the air. For now, it’s best to buckle up, grab a strong cup of coffee, and prepare for a bumpy ride. ☕

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2025-11-18 03:14