Bitcoin (BTC) fell over 3% on Nov. 25 as traders called for calm over new BTC price weakness.
BTC/USD 1-hour chart. Source: TradingView
Flash Bitcoin volatility punishes late longs
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD falling to lows of $94,600 on Bitstamp in volatile conditions after the Wall Street open.
Bulls failed to hold a relief bounce from an initial trip below $96,000 before the weekly close, and even positive external developments — including news that a ceasefire between Israel and Hezbollah may be in talks — could not buoy the mood.
In contrast to Bitcoin, United States equities were mildly up at the time of writing.
Elsewhere, business intelligence and software firm MicroStrategy announced it had purchased $5.5 billion worth of Bitcoin in the week through Nov. 24 — traditionally a move that initiates downside when confirmed.
Reacting, commentators including trading resource Material Indicators look a longer-term view.
“After a rapid rise from election day, and over $200M in $BTC asks stacked around $100k, you shouldn’t be surprised that Bitcoin is searching for support,” Material Indicators wrote on X.
An accompanying chart showed key liquidation levels on global exchange Binance.
“If we don't see a double (local) bottom bounce from here, I’m looking at the $89k - $91k range,” it added.
BTC/USDT order book data. Source: Material Indicators/X
Data from monitoring resource CoinGlass put total cross-crypto liquidations at around $430 million for the past 24 hours at the time of writing.
Crypto liquidations (screenshot). Source: CoinGlass
“If you could truly understand what Bitcoin has in store for us, you wouldn’t feel scared or nervous about any dip or pullback. It might take while pausing before shooting higher,” popular trader BitQuant wrote in their own X post.
“Stay calm, observe the market, and pay attention to the emotions around you so you can recognize similar patterns in the future. Developing the ability to remain calm when everyone else is losing their heads is essential.”
BTC/USD 3-day chart. Source: BitQuant/X
$100,000 BTC price odds collapse
In a sign of how sensitive market sentiment is to short-term BTC price moves, predictions of Bitcoin hitting $100,000 this month fell instantly on the latest dip.
Related: Who cares about $100K? 5 Things to know in Bitcoin this week
Data from betting platform Kalshi put the odds of a $100,000 price tag before the end of November at just 42% at the time of writing. On Nov. 23, the tally stood at 85%.
The chances of reaching the $100,000 mark before 2025, however, remained higher at 75%.
Bitcoin price odds as of Nov. 25 (screenshot). Source: Kalshi
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.