Bitcoin Price Today, November 20, 2025: BTC Holds Around $92K After 7‑Month Low and $1 Trillion Crypto Crash

Bitcoin is stabilizing near $92,000 today after a violent sell‑off that briefly sent prices below $90,000 and wiped roughly $1–1.2 trillion from the wider crypto market. Here’s what’s driving BTC now, and what traders are watching next. ^[1]

Key Takeaways

Spot price: Bitcoin is trading around $92,000 per BTC, after moving roughly between $91,000 and $93,000 over the last 24 hours, up about 0.5–0.8% on the day. ^[2]
Volatile week: BTC fell as low as ~$88,500–$89,000, marking its lowest level in seven months, before rebounding. ^[3]
Market wipeout: Since early October, the crypto market’s total value has dropped from around $4.3 trillion to about $3.2 trillion, erasing roughly $1–1.2 trillion in paper wealth. ^[4]
Macro & Nvidia: A sharp bounce in risk assets after Nvidia’s blockbuster earnings helped Bitcoin snap back from sub‑$90K levels and reclaim the $92K area. ^[5]
Positioning reset: On‑chain and derivatives data show heavy long liquidations, lower futures open interest, modestly positive funding, and rising whale accumulation – a classic “leverage flush” pattern. ^[6]
Sentiment split: Analysts and even AI models are divided on whether BTC can retake $100K this month, while some high‑profile voices still see a path to $250K in the longer term. ^[7]

Bitcoin Price Today (20 November 2025)

Across major data providers, Bitcoin is broadly trading in the low $90,000s:

Coingecko: ~$91,981 per BTC, up about 0.8% over the last 24 hours. ^[8]
Investing.com (BTC/USD): Today’s session shows an open near $91.5K, high around $93.1K, low just above $91.2K, and a daily gain of roughly 0.6%. ^[9]
Coinbase (TwelveData feed): Similar ranges, with BTC trading between $91.1K and $93.1K and closing near $92.0K, a 0.6% move. ^[10]

Put simply: Bitcoin is consolidating just above $92K, slightly green on the day after a bruising drawdown that began earlier this month.

On a slightly longer view:

Over the last 7 days, BTC has fallen from about $99,700 to ~$92,000, a drop of roughly 7–8%. ^[11]
Monthly data show the average BTC price in November (~$92.6K) is about 15% lower than October’s average around $109.5K, underlining how sharp this correction has been. ^[12]

From 7‑Month Low Below $90K to Nvidia‑Fueled Rebound

The new leg of the “great crypto crash”

This latest slump is widely being framed as a new phase of the “great crypto crash of 2025.” A Bloomberg report carried by Gulf News notes that Bitcoin plunged to around $88,522, its lowest level in seven months, dragging the total crypto market cap from roughly $4.3 trillion down to about $3.2 trillion. ^[13]

Reuters similarly reported that BTC is now about 26% below its October peak above $126,000, and that around $1.2 trillion has been wiped out from digital assets over the past six weeks, with spot Bitcoin ETFs seeing about $3.7 billion of outflows since October 10. ^[14]

An Economic Times recap today highlights:

Bitcoin briefly traded near $89,000,
Crypto‑linked stocks such as Coinbase and major miners sold off alongside BTC, and
BlackRock’s flagship spot Bitcoin ETF saw record daily outflows, adding another layer of pressure. ^[15]

Nvidia and the risk‑on switch

Yet the market’s tone shifted quickly:

99Bitcoins’ live market column describes a “classic shakeout” where BTC plunged under $90K overnight before “snapping back” to around $92K, likening it to the violent nukes and rebounds seen in previous cycles. ^[16]
Both that piece and Bloomberg’s coverage point to Nvidia’s blowout earnings and strong AI revenue guidanceas a key macro spark, lifting tech stocks and reviving risk appetite that spilled back into crypto. ^[17]

In short, macro and equities – not crypto‑specific news alone – are heavily steering BTC’s intraday moves today.

Macro, ETFs, and Regulation: What’s Driving BTC on 20 November?

1. ETF flows and the “institutional unwind”

Two converging stories are weighing on sentiment:

Reuters notes that U.S. spot Bitcoin ETFs have seen billions in outflows since early October, as some institutions retrench amid tariff worries and shifting expectations for U.S. rate cuts. ^[18]
99Bitcoins points to blockchain‑analytics data suggesting BlackRock just logged its largest ever Bitcoin outflow, which lined up almost perfectly with the overnight dump below $90K before the bounce. ^[19]

Research from Investing.com adds another layer: over‑leveraged corporate “digital asset treasury” firms that borrowed heavily to buy BTC during the rally from ~$60K to above $126K now appear to be forced sellers as prices retreat, amplifying volatility. ^[20]

2. Global regulation: Kenya’s bold Bitcoin ATM rollout

On the regulatory front, one of today’s more unusual headlines comes from Kenya:

A detailed analysis on CryptoRank (syndicated from Cryptonews) reports that, just weeks after passing the Virtual Asset Service Providers Act of 2025, Kenya is already seeing Bitcoin ATMs installed in major Nairobi malls, branded “Bankless Bitcoin”. ^[21]
The rollout is effectively stress‑testing Kenya’s new crypto framework in real time, raising questions about how quickly regulators can license and supervise service providers.

While this is a regional story, it matters for today’s BTC narrative because it shows regulatory experimentation hasn’t stopped even as prices fall – a contrast to past cycles where regulators often tightened rules after crashes.

3. The “crypto crash of 2025” and shifting macro expectations

Both Bloomberg and Reuters emphasize that this year’s rally to just above $126,000 per BTC leaned heavily on:

Hopes for multiple Federal Reserve rate cuts, and
A wave of institutional adoption via ETFs and corporate treasuries. ^[22]

As those narratives have cooled — with rate‑cut odds pushed further out and ETF demand turning choppy — momentum buyers have backed away, leaving BTC vulnerable when macro headlines sour.

What On‑Chain and Derivatives Data Say Today

Behind the spot price, there’s a tug‑of‑war happening in futures, options, and on‑chain flows.

1. Leverage flush and whale accumulation

A fresh weekly on‑chain report (data via CryptoQuant) covering up to November 19 highlights several key developments: ^[23]

Open interest in BTC futures has trended lower, with a sharp drop mid‑month — a sign of reduced leverageafter the big move down.
Across November 12–18, the market saw about $2.54 billion in long liquidations versus roughly $183 million in short liquidations as BTC slid from around $105K to $89K, confirming a long‑heavy flush‑out.
Whale wallets (1,000–10,000 BTC) added over 45,000 BTC in the first half of November, while long‑term holders accumulated more than 345,000 BTC since October, one of the largest buying waves in recent memory.

Separate VanEck‑linked research, summarized in multiple outlets, argues that the recent decline is being driven mainly by mid‑cycle holders and leveraged players, while larger “whale” cohorts have turned net buyers and futures open interest fell roughly 19% in just 12 hours during the tariff‑sparked sell‑off. ^[24]

Taken together, the on‑chain picture looks like:

Retail and leveraged traders were forced out, while big, patient wallets quietly accumulated BTC at lower prices.

2. Funding rates and short dominance

Derivatives data today paint a nuanced picture:

A Coinglass snapshot (via Chaincatcher) puts the average 8‑hour BTC funding rate around 0.0047%, with most major exchanges slightly positive — suggesting a modest bias toward longs, but nothing extreme. ^[25]
At the same time, an AInvest piece notes that perpetual futures remain “short‑dominant,” with shorts holding roughly 51.5–52.5% of open positions across big venues such as Binance, Bybit and Gate.io, after a Q4 wave of over $20B in liquidations earlier this year. ^[26]

This combination — lightly positive funding but a slightly short‑heavy positioning mix — aligns with a market that has been reset, but where traders are still cautious about chasing aggressive upside.

Analyst, AI and Founder Views: Capitulation or Buying Opportunity?

1. “Capitulation or catalyst?” – traditional analysis

A widely shared AInvest brief today frames BTC’s break below the $100,000 psychological level as a trigger for “extreme fear”, citing a Crypto Fear & Greed Index reading near 15/100. It highlights: ^[27]

Key support levels around $92,000 and $87,800,
A bearish short‑term technical bias with BTC trading below its 20‑day EMA (near $105K), and
The possibility that continued weakness could test the upper‑$80K region if $92K gives way.

Daily crypto research from outlets like DailyForex and FX‑focused desks echo this, describing “Red November” where BTC is down roughly 25–26% from its October top above $126K and warning that the near‑term path of least resistance may still be lower unless macro conditions improve. ^[28]

2. AI models weigh in on $100K prospects

CryptoPotato published a tongue‑in‑cheek but data‑driven feature today asking four major AI chatbots whether Bitcoin will reclaim $100K before November ends. ^[29]

Key takeaways:

Several models argued that 10–20% rebounds within days are not unusual for BTC after deep liquidations.
One bot suggested that if BTC can push back into the $95K–$97K zone, FOMO could reignite and drag price back toward six figures, while another put the odds of a November close above $100K in the 40–50% range, emphasizing the importance of the Federal Reserve’s tone on future rate cuts.

The piece also notes that November is historically one of Bitcoin’s stronger months, though performance has been weaker in post‑halving years — and this November, BTC is already down over 16% month‑to‑date. ^[30]

3. Long‑term optimists: $250K calls persist

Despite the crash, bullish long‑term narratives haven’t gone away:

A report from The Crypto Basic (via CNBC coverage) says Cardano founder Charles Hoskinson still believes Bitcoin can reach $250,000, even after “stuttering” following its break above $126,000 earlier in the year. ^[31]

While such targets are far beyond today’s $92K price, they continue to shape investor psychology, reminding markets how quickly narratives can flip when BTC trends strongly.

Key Technical Levels for BTC/USD Today

Based on today’s cross‑market data and widely cited analyses, traders are watching roughly the following zones:

Immediate support:
- $92,000 – psychological and technical area repeatedly referenced as a near‑term floor; losing it cleanly would undermine today’s stabilization narrative. ^[32]
- $88,000–$89,000 – the seven‑month low region where heavy long liquidations recently clustered; a break below would suggest the correction isn’t finished. ^[33]
Resistance and upside triggers:
- $95,000–$97,000 – a zone highlighted by both technical analysts and AI models as the area where FOMO could reignite and shorts may start to feel pressure. ^[34]
- $100,000 – major psychological barrier and former support; reclaiming and holding above it would go a long way to restoring the bull‑market narrative. ^[35]
- $105,000+ – where some derivatives analysts note large short “liquidation clusters” that could fuel another squeeze if BTC can build momentum. ^[36]

In the very short term, holding above $90K–$92K while futures leverage remains relatively low would support the idea that a local bottom might be forming, but a decisive break lower could quickly re‑ignite talk of a deeper bear phase.

What Today’s Move Means for Traders and Long‑Term Holders

For short‑term traders, today’s action reinforces that Bitcoin can move thousands of dollars in hours, especially when macro catalysts (like Nvidia earnings or Fed expectations) collide with crowded positions. Tight risk management around the levels above is critical; a market dominated by derivatives and ETF flows can turn abruptly. ^[37]
For long‑term investors, on‑chain data showing whale and long‑term holder accumulation during the dipcontrasts with retail panic and ETF outflows — a pattern seen in past cycles where deeper pockets gradually absorb supply when sentiment is at its worst. ^[38]

However, none of this guarantees that the bottom is in. Bitcoin’s history is full of both V‑shaped recoveries and prolonged drawdowns after initial crashes. Anyone considering exposure should be prepared for:

High volatility
The possibility of further downside into the high‑$80Ks or even lower
Regulatory and macro surprises that can dramatically change the narrative in either direction

This article is for information and news purposes only and does not constitute financial or investment advice. Always consider your risk tolerance and, where appropriate, consult a qualified financial professional before making investment decisions.

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