Nov 18, 2025
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Bitcoin Price Drops Amid 65,200 BTC Moved to Exchanges for Sale
Bitcoin's price dropped to $92,300 on Tuesday, influenced by US political events affecting market sentiment. US stocks like Nasdaq and S&P 500 also saw declines. Despite positive news from a significant Bitcoin purchase by Michael Saylor’s company, short-term holders moved 65,200 BTC to exchanges at a loss, indicating potential selling pressure.
- Short-term holders' actions potentially added $610 million in sell-side supply.
- Bitcoin's trading volume increased by over 34%, suggesting fresh supply impacts.
- The price remains vulnerable due to ongoing political uncertainties surrounding the Trump administration.
Bitcoin Price Forecast
Currently trading around $93,317, Bitcoin shows signs of stabilization after a decline to $90,900. However, a double-top pattern suggests potential further downside to $89,177, which aligns with the lower Bollinger Band as major support.
- Bollinger Bands indicate downside expansion; resistance is near $99,069.
- RSI is at 35, near oversold conditions, but high-volume inflows may continue the bearish trend.
- Reclaiming the $99,000–$100,000 range is crucial for a bullish reversal.
Failure to regain higher levels could lead to a retest of $89,000, especially if political volatility persists.