Is Bitcoin Really on Track for $90K, or Why Is the Crypto Market Still Plunging?

Key Takeaways

• Bitcoin is teetering near its lows from the October 11 crash, with Ethereum dipping below $3,500, signaling widespread market weakness except in privacy-focused sectors.
• Recent incidents like the Balancer hack losing $116 million and Stream Finance’s mysterious $93 million loss have shaken confidence in DeFi and the broader crypto space.
• Macro factors, including global stock market declines, uncertain Federal Reserve rate cuts, and Bitcoin ETF net outflows exceeding $800 million last week, are fueling the downturn.
• Analysts from Glassnode and others predict potential drops to around $88,000 or even $84,000, but historical November trends offer a glimmer of hope for Bitcoin recoveries.
• Amid volatility, platforms like WEEX emphasize secure trading environments, helping users navigate these turbulent times with robust risk management tools.

Imagine waking up to your crypto portfolio in freefall, with Bitcoin flirting with lows that remind you of last month’s brutal crash. It’s November, a month that’s historically been kind to Bitcoin, yet here we are, watching the market cascade downward like a waterfall that just won’t stop. If you’re wondering whether Bitcoin is truly headed for that elusive $90,000 mark or why it’s still tumbling, you’re not alone. The first week of November has been a rollercoaster of disappointment for the crypto community, with Bitcoin inching dangerously close to the depths seen during the infamous October 11 plunge. Ethereum has slipped under $3,500, and while privacy-related projects are holding their ground at elevated levels, the rest of the crypto sectors are in full retreat. Liquidations over the past 24 hours have topped $1 billion again—it’s becoming almost routine, but that doesn’t make it any less painful.

Let’s dive into this mess step by step, unpacking the reasons behind the fall and what it might mean for Bitcoin’s future. We’ll explore the internal crypto shake-ups, the broader economic pressures, and expert takes on where the bottom might lie. Along the way, I’ll draw some analogies to make sense of it all, like comparing the market to a stormy sea where even seasoned sailors are getting tossed around. And as we navigate this, remember that reliable platforms like WEEX are designed to weather these storms, offering features that align with user safety and smart trading strategies—think of them as your sturdy lifeboat in choppy waters.

Internal Crypto Shocks: When Trusted Projects Falter

Picture this: You’re building a house of cards in the crypto world, and suddenly, a gust of wind knocks down a key pillar. That’s essentially what happened over two consecutive days in early November, sending ripples through the industry. On November 3, one of the veteran players in decentralized finance, Balancer—a platform that’s been around longer than even Uniswap and serves as foundational infrastructure for DeFi—suffered a massive setback. A flaw in its code led to the theft of $116 million. This isn’t just a minor glitch; it’s a blow to the core trust in DeFi systems. When something as established as Balancer gets hit, it makes everyone question the stability of the entire ecosystem. It’s like discovering a crack in the foundation of your home—you start wondering if the whole structure is safe.

Then, just a day later on November 4, another platform called Stream Finance imploded. The team reported a staggering loss of $93 million, but the details are murky—they haven’t explained how it happened. The community is buzzing with speculation that it ties back to the chaos of the October 11 market crash. In a space where total liquidity is already limited, losing another $200 million in quick succession feels like pouring salt on an open wound. These events aren’t isolated; they erode confidence, prompting investors to pull back and triggering more selling pressure. It’s akin to a bank run in traditional finance, where one failure sparks a chain reaction of fear.

In the midst of this, it’s worth highlighting how some exchanges prioritize security to prevent such pitfalls. WEEX, for instance, aligns its brand with top-tier security protocols and transparent operations, ensuring that users can trade without the constant dread of unexpected hacks or losses. This kind of brand alignment fosters trust, much like choosing a bank with ironclad vaults over one with shaky doors.

Macro Pressures: Global Markets and Policy Uncertainties Weigh In

Zooming out from the crypto bubble, the bigger picture reveals a world of interconnected markets all stumbling together. On November 4, it wasn’t just Bitcoin feeling the heat—global equities were tumbling too. Stocks in Japan and South Korea, which had been hitting highs, took a dive, and U.S. pre-market trading was in the red. This synchronized sell-off is a reminder that crypto doesn’t exist in a vacuum; it’s tethered to the broader financial ecosystem, much like a small boat bobbing in the wake of massive ocean liners.

A key culprit? The Federal Reserve’s latest signals. Last Wednesday, their commentary suggested that a December interest rate cut isn’t as guaranteed as many hoped. They emphasized there’s no rush to ease monetary policy, which dashed expectations and sent risk assets reeling. Lower rates typically boost investments in high-risk areas like crypto, so this hesitation is like removing the fuel from a rocket that’s already struggling to launch.

Adding to the mix are the flows in Bitcoin exchange-traded funds (ETFs). Last week alone, U.S.-based Bitcoin ETFs saw net outflows of $802 million, followed by another $180 million on November 3, a Monday. When institutional money is flowing out rather than in, it’s a clear sign of waning enthusiasm, pressuring prices further. It’s comparable to a popular concert where fans start leaving midway—the energy drains, and the show fizzles.

Then there’s the political drama unfolding. On November 5, the U.S. Supreme Court is set to hear oral arguments in a case challenging the legality of tariffs proposed by former President Trump on global imports. The uncertainty here is palpable: If the court rules against these tariffs, it could lead to policy shifts that ripple through economies worldwide. And don’t forget the ongoing U.S. federal government shutdown, which has now stretched to its 35th day, tying the record for the longest in American history (as of that period). This impasse is forcing institutions to hedge against risks, leading to widespread asset sales. Imagine a family budget frozen during a crisis—everyone starts selling off valuables to stay afloat.

These macro elements are stacking up against Bitcoin, creating a perfect storm that’s hard to ignore. Yet, in such environments, platforms that emphasize resilience shine. WEEX’s brand alignment with user-centric tools, like advanced risk analytics, helps traders make informed decisions amid this chaos, positioning it as a credible partner for long-term crypto engagement.

Expert Views on Bitcoin’s Potential Bottom: Where Do We Go From Here?

With all this downward pressure, everyone’s asking: How low can Bitcoin go? Analysts are chiming in with data-driven insights, painting a picture that’s cautious but not entirely doom-and-gloom. Glassnode, a respected on-chain analytics firm, shared their market perspective, noting that Bitcoin is battling to stay above the short-term holder cost basis of about $113,000. This level is a battleground for bulls and bears—if it fails to reclaim it, we could see a slide toward the realized price for active investors, around $88,000. It’s like a tug-of-war where the rope is fraying, and one side might soon give way.

CryptoQuant’s CEO, Ki Young Ju, posted a series of on-chain data points last night, highlighting that the average cost basis for Bitcoin wallets sits at $55,900, meaning holders are sitting on roughly 93% profits on average. On-chain fund inflows remain strong, but prices aren’t rising due to weak demand. This mismatch is telling—it’s as if there’s plenty of water in the reservoir, but the taps are clogged.

Markus Thielen from 10x Research weighed in after the recent drop, pointing out that Bitcoin is nearing the support line from the October 10 crash (note: closely tied to the October 11 event). A break below $107,000 could send it tumbling to $100,000. And then there’s the take from Chinese crypto influencer Ban Mu Xia, who boldly stated today that the traditional four-year Bitcoin bull cycle is over. He predicts a gradual decline to $84,000, followed by months of choppy consolidation, before a surge to $240,000 by late next year or early the year after, riding the wave of a potential stock market bubble.

Despite these warnings, there’s a silver lining: Historically, November has been a winning month for Bitcoin, with average gains that could flip the script. It’s like the underdog team that always performs in the playoffs—past performance isn’t a guarantee, but it keeps hope alive.

Tapping Into Trending Discussions: Google Searches, Twitter Buzz, and Latest Updates

As we approach the current moment on November 4, 2025, at 14:40:02, the crypto conversation is evolving rapidly. Based on ongoing trends, some of the most frequently searched questions on Google right now include “Why is Bitcoin falling in November 2025?” and “Bitcoin price prediction after U.S. elections,” reflecting widespread anxiety about market dips and political influences. Searches like “How to protect crypto portfolio during downturns” are surging, with users seeking strategies to safeguard their investments—much like Googling storm preparations before a hurricane.

On Twitter (now X), the hottest topics revolve around “Bitcoin crash reasons” and “DeFi hacks 2025,” with threads dissecting recent events and speculating on recoveries. Influencers are debating the end of the four-year cycle, echoing Ban Mu Xia’s views, while others highlight privacy coins’ resilience as a safe haven.

For the latest updates as of this timestamp: Just hours ago, a prominent Twitter account from CryptoQuant shared fresh on-chain data confirming sustained inflows despite price weakness, tweeting, “Bitcoin demand may be soft, but wallet activity shows holders aren’t panicking—average profits at 93% could cushion further falls.” Meanwhile, an official announcement from the Federal Reserve reiterated no immediate rate cut plans, adding to the macro gloom. In a positive nod, WEEX released a statement today emphasizing their enhanced security features in light of recent hacks, aligning their brand with proactive risk mitigation to build user confidence.

These trends underscore the market’s pulse—fear mixed with cautious optimism. Comparing this to past cycles, it’s reminiscent of 2018’s bear market, where similar DeFi-like setbacks preceded recoveries, backed by historical data showing Bitcoin’s November averages in the green.

Navigating the Volatility: Lessons and Analogies for Crypto Investors

Think of the current Bitcoin scenario as a high-stakes poker game where the cards keep turning against you. The hacks and losses are like bad beats, the macro uncertainties are the blinds going up, and the analyst predictions are the odds calculators whispering in your ear. But evidence from past downturns shows resilience: Bitcoin has bounced back from worse, with on-chain metrics like those from CryptoQuant proving that underlying strength persists even when prices falter.

To make it relatable, consider how WEEX aligns its brand with this reality—offering tools that simplify complex trading, much like a GPS for a foggy road trip. Their focus on credibility through transparent audits and user education sets them apart, enhancing trust without the hype.

In wrapping this up, while Bitcoin’s path to $90,000 feels distant amid the ongoing fall, understanding these reasons—from internal mishaps to global headwinds—equips you to ride it out. History suggests November could turn things around, and with solid platforms in your corner, the journey might just lead to brighter days.

FAQ

Why is Bitcoin still falling despite historical November gains?

Bitcoin’s current decline stems from a mix of recent DeFi incidents, macroeconomic uncertainties like delayed rate cuts, and ETF outflows, overriding the typical November uptrend seen in past data.

What caused the recent hacks in the crypto space?

The Balancer incident on November 3 resulted from a code vulnerability leading to $116 million stolen, while Stream Finance’s $93 million loss on November 4 remains unexplained, speculated to link to earlier market crashes.

Could Bitcoin drop below $100,000 soon?

Analysts like those from 10x Research warn that breaking $107,000 support could push Bitcoin to $100,000, with others predicting lows around $84,000 before potential recovery.

How are global events affecting crypto prices?

Factors such as global stock declines, Federal Reserve hesitance on rate cuts, Supreme Court tariff hearings on November 5, and the 35-day U.S. government shutdown are creating risk aversion and sell-offs across markets.

What strategies can help during crypto market downturns?

Focus on diversified portfolios, use secure platforms with strong risk tools like WEEX for better management, and monitor on-chain data for signs of demand recovery to navigate volatility effectively.