Bitcoin Price Today, November 21, 2025: BTC Slides Toward $82K as Liquidations and ETF Outflows Hammer Crypto

Bitcoin (BTC) is trading sharply lower today, extending a multi-week sell-off that has erased its 2025 gains and dragged the wider crypto market into “extreme fear.”

As of the time of writing on Friday, November 21, 2025, Bitcoin is changing hands in roughly the $82,000–$83,000 zone after swinging between about $81,000 and $87,000 over the last 24 hours, according to data from major aggregators and exchanges. ^[1]

That leaves BTC more than 30% below its October all‑time highs above $120,000, and down around 8–10% over the past day depending on the data source and time window. ^[2]

Key takeaways

Bitcoin price today (21.11.2025): Trading around $82K–$83K, after an intraday range roughly between $81K and $87K. ^[3]
Volatility spike: BTC briefly dipped toward $81K on major venues and suffered a flash crash to $80K on derivatives exchange Hyperliquid, before stabilizing slightly higher. ^[4]
Massive liquidations: Estimates from analytics platforms show around $2 billion in crypto positions wiped out in the latest lurch lower, with hundreds of thousands of traders liquidated. ^[5]
Macro pressure & Fed worries: A stronger‑than‑expected U.S. jobs report has reduced bets on near‑term Federal Reserve rate cuts, feeding a broader risk‑off move that is hitting tech stocks and crypto alike. ^[6]
Record ETF outflows:U.S. spot Bitcoin ETFs have seen about $3.79 billion in net outflows in November, signaling fading institutional risk appetite and adding to selling pressure. ^[7]

Bitcoin price snapshot for November 21, 2025

Different data providers quote slightly different spot prices, but they tell a consistent story of a fast, deep drawdown:

Current price: ~$82K–$83K
24‑hour change: Roughly –8% to –10% on major trackers such as CoinGecko and exchange‑based feeds. ^[8]
Intraday high / low: Around $87K high and $81K low so far today on large USD pairs. ^[9]
Week‑to‑date: Bitcoin and Ether are both staring at weekly losses near 8%, according to early‑session reporting from Reuters. ^[10]
From October peak: BTC is now over 30% below the October spike above $120K–$125K, marking its deepest pullback since the 2022 “crypto winter.” ^[11]

Reuters notes that BTC touched a seven‑month low around $85,350 in Asian trading, already enough to wipe out its gains for the year before later declines pushed prices even lower. ^[12]

Why is Bitcoin falling today?

Today’s move isn’t being driven by a single headline. Instead, several bearish forces are hitting at once: macro worries, excessive leverage, derivatives expiries, and heavy ETF outflows.

1. Global risk‑off mood and fading Fed rate‑cut hopes

Reuters reports that cryptocurrencies were “caught in a broad flight from risk assets,” with concerns about lofty tech valuations and waning expectations of near‑term Federal Reserve easing weighing on sentiment. ^[13]
A strong U.S. jobs report earlier in the week reinforced the idea that rates may stay higher for longer, which is typically negative for speculative assets like growth stocks and crypto. ^[14]

In this environment, Bitcoin is once again behaving like a high‑beta risk asset: when investors de‑risk, BTC tends to fall faster than traditional indices.

2. Leverage wash‑out and forced liquidations

A big part of today’s volatility is mechanical: over‑leveraged traders getting blown out.

CoinGlass data, summarized by The Crypto Basic, shows more than 392,000 traders liquidated, with over $2 billion in positions closed across the crypto market. Bitcoin alone accounted for roughly $960 million in liquidations, most of them long positions. ^[15]
Crypto.news and 99Bitcoins live coverage both highlight nearly $1–2 billion in liquidations over a short window, as BTC dropped from the low‑$90Ks toward the low‑$80Ks. ^[16]
A CoinDesk markets update estimates about $1.7 billion in liquidations, calling this one of the most severe deleveraging events since late 2022. ^[17]

When price moves quickly against heavily leveraged long positions, exchanges automatically close those positions, adding extra sell pressure and creating the kind of cascade we’ve seen over the last 24 hours.

3. Flash crash to $80K on Hyperliquid

Volatility was amplified on derivatives venue Hyperliquid:

CoinDesk reports that BTC/USDC on Hyperliquid briefly “flash crashed” to around $80,000, dropping by about $3,000 in under a minute before bouncing. ^[18]
On most major centralized exchanges, the drop was less extreme, with lows still above $81,000, underscoring how thin liquidity and leverage on some derivatives platforms can produce outsized intraday moves. ^[19]

Some analysts, including Tom Lee in remarks quoted by Yahoo Finance, have suggested elements of “software glitches” and potential market manipulation may have exacerbated the speed of the move around the $83K area, but these claims remain opinions rather than proven facts. ^[20]

4. Massive options expiry adding fuel

Options markets are also playing a major role today:

According to Deribit data cited by The Crypto Basic, over $4.2 billion in crypto options are expiring today, including more than 39,000 BTC options worth about $3.4 billion. ^[21]
The put–call ratio in the last 24 hours jumped above 1.3, signalling heavier demand for downside protection and increased hedging activity as traders scrambled to protect positions. ^[22]

Option expiry days often amplify volatility, especially when spot prices drift far away from the “max pain” level—in this case, around $98,000 for BTC, far above the current mid‑$80Ks to low‑$80Ks zone. ^[23]

5. Record outflows from Bitcoin ETFs

Institutional flows are no longer the one‑way bullish force they appeared to be earlier in 2025:

CoinDesk reports that U.S.-listed spot Bitcoin ETFs have recorded about $3.79 billion in net outflows in November, the largest monthly outflow since these funds launched in January 2024. ^[24]
BlackRock’s flagship BTC ETF (IBIT) alone has seen over $2 billion in redemptions this month, while Ether ETFs have lost around $1.79 billion. ^[25]
Interestingly, newly launched Solana and XRP ETFs have attracted net inflows—roughly $300M+ and $400M+ respectively—suggesting some capital is rotating within the crypto complex rather than leaving entirely. ^[26]

Combined with high rates and fading risk appetite, this ETF reversal removes an important structural source of spot demand for BTC.

How today fits into the 2025 Bitcoin cycle

From euphoria to deep correction

Earlier this year, the narrative around Bitcoin was radically different:

Following the 2024 halving and the full first year of U.S. spot ETF trading, BTC surged to new highs above $120K in October 2025. ^[27]
Forecasts from large retail platforms and some research desks even floated scenarios where Bitcoin could approach $150K–$200K by late 2025 or 2026, assuming continued ETF inflows and supportive macro conditions. ^[28]

Instead, the last six weeks have brought:

A drawdown of more than 30% from the peak, putting BTC back near levels seen before January’s ETF boom. ^[29]
What CoinDesk calls potentially the “worst monthly drawdown since the 2022 crypto winter.” ^[30]
A plunge in the widely watched Crypto Fear & Greed Index to about 11, firmly in “extreme fear” territory and its weakest reading since late 2022. ^[31]

Coinpedia and other analysis outlets argue that this kind of mid‑cycle crash—driven by leverage unwinds, bugs in trading systems, and macro stress—fits with previous Bitcoin bull‑market patterns, where sharp corrections interrupt broader multi‑year uptrends. ^[32]

Altcoins and wider crypto market today

Bitcoin’s slide is pulling the rest of the crypto market down with it:

Crypto.news notes total crypto market capitalization is down to around $2.95 trillion, with major coins like ETH, SOL, XRP and BNB dropping 7–10% in the last day. ^[33]
The Crypto Basic reports Solana tumbling about 12% to the mid‑$120s and XRP dropping over 10% to just under $2, reflecting the breadth of the sell‑off. ^[34]
99Bitcoins’ live coverage lists ETH around $2,700–$2,800, Solana near $127, and Dogecoin down roughly 11% on the day, while stablecoins like USDT and USDC continue to trade close to $1. ^[35]

The message: this is not a Bitcoin‑only event; it’s a broad crypto deleveraging in a shakier macro backdrop.

Key Bitcoin levels to watch

Analysts are debating whether this is just a violent “shake‑out” or the start of a deeper bear market. A few levels keep coming up in technical commentary:

Near‑term support:
- Spot markets have repeatedly tested the $80K–$82K band today. A decisive break below this zone on high volume could open the door to a deeper slide. ^[36]
Psychological and historical levels:
- Many traders are eyeing $80K as psychological support and $70K as the next big round number if selling accelerates. ^[37]
Long‑term trend floor:
- Coinpedia highlights the 200‑week moving average around $55K–$60K as a potential “cycle floor” if the correction deepens significantly, pointing out that this level acted as support in prior bear markets. ^[38]

At the same time, some veteran chartists—such as Peter Brandt in comments reported by Yahoo Finance—have floated a scenario where Bitcoin could dip toward the high‑$50Ks before eventually rallying toward $200K later in the cycle. These are highly speculative projections, not guarantees. ^[39]

What this means for traders and long‑term holders

For short‑term traders:

Volatility is elevated, and liquidation data shows leverage has been punished hard. Tight risk management, cautious use of margin, and awareness of options expiries are especially important in this environment. ^[40]

For long‑term Bitcoin holders:

Many research notes still frame the current move as a mid‑cycle correction in a broader adoption trend, supported by ongoing institutional interest, national‑level reserves and corporate treasuries—even if those flows are no longer one‑way bullish via ETFs. ^[41]
However, the combination of record ETF outflows, higher‑for‑longer rates, and growing regulatory scrutiny means drawdowns can be deep and prolonged, and there is no guarantee of a quick “V‑shaped” recovery. ^[42]

As always, anyone considering exposure to Bitcoin or other digital assets should assess their risk tolerance, time horizon and diversification and avoid trading with money they cannot afford to lose.

Quick FAQ: Bitcoin price today – 21 November 2025

What is the Bitcoin price today, 21.11.2025?
At the time of writing, BTC is trading around $82,000–$83,000, after an intraday range roughly between $81K and $87K across major USD markets. ^[43]

Why is Bitcoin down today?
A combination of risk‑off macro sentiment, fading expectations of near‑term Fed rate cuts, record outflows from U.S. spot Bitcoin ETFs, and around $2B in leveraged liquidations has driven the price sharply lower. An unusually large options expiry and a flash crash on derivatives venue Hyperliquid amplified the move. ^[44]

Is this the start of a new bear market?
Opinions differ. Some analysts see the current move as a bear‑phase within a larger cycle, pointing to deep corrections that also occurred in past bull markets. Others warn that sustained ETF outflows and tighter financial conditions could mark a more durable trend shift. There is no consensus, and future price paths remain highly uncertain. ^[45]

Could Bitcoin drop below $80K?
Derivatives and technical analysts note that a clean break below $80K could invite tests of lower supports such as $70K or even the $55K–$60K region around the 200‑week moving average. But these are scenarios, not predictions, and depend on how macro data, ETF flows and leverage evolve in the coming weeks. ^[46]

This article is for informational and news purposes only and does not constitute financial, investment, or trading advice. Cryptocurrency investing is highly risky, and you should do your own research or consult a licensed professional before making financial decisions.

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