In the grand theater of human folly, where the stage is lit by the flickering candles of greed and fear, Bitcoin, that digital Prometheus, has once again been bound to the rock of its own volatility. On a Monday as gray as the souls of its liquidated traders, the price of this modern-day Icarus plummeted to depths unseen since the spring of yesteryear. Ah, the hubris of man, thinking he could soar forever on the wings of speculative fervor! 🦅🔥
- Bitcoin, once the darling of the crypto ball, now lies prostrate, its price down over 10% in the last 7 days. A fall from grace, indeed.
- Over $240 million has been sacrificed to the gods of leverage, liquidated from the BTC futures market. A bloodletting of epic proportions. 💸💔
- And lo, the death cross hath appeared on the daily chart, a harbinger of doom that would make even Cassandra blush. ⚰️✝️
According to the scribes at crypto.news, the world’s largest digital asset was last seen trading around $95k in the mystical hour of Asian morning on November 17. But alas, it could not hold, and like a tragic hero in a Shakespearean play, it fell below the $94,000 threshold to an intraday low of $93,029. The lowest since April 12, a date now etched in the annals of crypto infamy. 📉🗡️
At its current price, Bitcoin (BTC) stands 10.6% lower in the past 7 days and a staggering 24.6% below its year-to-date and all-time high of $126k, achieved but a month ago. Ah, the fleeting nature of glory! 🏆💨
The downtrend continued on Monday, as derivatives traders, those modern-day alchemists, sought to de-risk their positions. The Federal Reserve, that omnipotent oracle, has dashed hopes of another rate cut this year, sending ripples of risk-off sentiment across the markets. Even crypto, that rebellious child of finance, could not escape the gravitational pull of macro uncertainty. 📉🌍
The CME FedWatch Tool, a crystal ball of sorts, now places the odds of a 25 basis point rate cut in December at a mere 43.9%. Meanwhile, the Polymarket soothsayers predict a paltry 46%, down from the lofty 80% at the start of November. Expectations, it seems, are as fickle as the winds of fortune. 🌪️🔮
In the past 24 hours, $243 million worth of positions were liquidated across the Bitcoin futures market, with long positions bearing the brunt at $136.6 million. A massacre, plain and simple, as leveraged positions were forcibly closed by the exchanges, their margins insufficient to withstand the storm. A cascading sell pressure ensued, reminiscent of last month’s $20 billion exodus. 🩸💣
Institutional investors, those titans of the financial world, have also turned their backs on Bitcoin. The 12 spot Bitcoin ETFs in the United States have bled over $2.3 billion in net outflows over the past two weeks, according to the chroniclers at SoSoValue. A sign of waning confidence, or perhaps mere prudence in the face of uncertainty. 🤔💼
This sustained capital flight from the spot ETF market may continue to weigh on Bitcoin’s price, especially if the broader macro landscape remains as murky as a Tolstoy novel. 🌫️📉
The Death Cross: A Bearish Omen
The daily chart, that canvas of technical analysis, has confirmed a death cross-a pattern so bearish it would make even the most stoic trader shudder. The 50-day simple moving average has crossed below the 200-day simple moving average, a portent of extended downside pressure. Historically, Bitcoin has often languished in the shadow of this pattern, its price a prisoner of technical destiny. ⚰️📉
Bitcoin also closed its weekly candle below the 50-day exponential moving average last week for the first time since August 2023, a sign that the bears may be tightening their grip. Momentum, it seems, is shifting in favor of the naysayers. 🐻⚔️
$BTC is about to close its first weekly candle below EMA-50 since August 2023.
This isn’t looking good. 😬📉
– Ted (@TedPillows) November 16, 2025
The Aroon Up indicator stood at 92.86%, while the Aroon Down lingered at 0%, a testament to the bears’ dominance. The market, it seems, is firmly in their claws. 🐻🔒
For now, the $93,770 to $94,000 region appears to be the next key support zone for Bitcoin. Should it falter here, the psychological support of $90,000-or even lower-may come into play. A tragic end, perhaps, but in the grand drama of the markets, even the mightiest heroes must face their downfall. 🌋💔
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2025-11-17 10:46