Bitcoin (BTC) plunged to its lowest level in approximately six months, dropping sharply from recent highs near $104,000 to lows around $94,000 on Friday, November 14, 2025. This steep decline of over 23% from its all-time high marked a decisive breakdown in price action, pulling the total cryptocurrency market capitalization to a six-month low. Investor sentiment has deteriorated sharply, with the Fear and Greed Index plunging to an “Extreme Fear” low of 16.
The primary driver for the sell-off was macro-economic pressure: the rapid receding of expectations for a Federal Reserve (Fed) rate cut in December. Just weeks ago, traders were pricing in a near-certain chance of easing, but persistent inflation concerns and a risk-off wave across global markets (including a drop in US equities) triggered a massive deleveraging event. Over $1 billion in leveraged crypto positions were liquidated, amplifying the speed and severity of the drop.Internal market dynamics also played a critical role. Data shows that long-term holders sold over 815,000 BTC in the past 30 days—the largest such exodus in over a year—signaling profit-taking and weakening confidence. Prices are now hovering near the estimated production cost of mining (around $94,000), a level that has historically acted as a psychological and technical floor. The slide raises key questions over Bitcoin’s role as a hedge and signals either a necessary market reset or the start of a deeper pullback.
 plunged to its lowest level in approximately six months, dropping sharply from recent highs near $104,000 to lows around $94,000 on Friday, November 14, 2025.){kind=link}