Bitcoin Price Today: Bitcoin has entered into its worst bear market in recent time, falling up to 30 per cent from the record all-time high of over $126,000 in early October 2025. Bitcoin was trading around $92,000 to $92,800 today, November 20, 2025 according to Binance. Driven by risk-off sentiment, the sharp fall erased all of its gains for 2025, leaving investors grappling with a volatile market.
Elevated U.S. interest rates, heavy outflows from Bitcoin ETFs, and cascading long liquidations collectively amplified the downturn, explains Vikas Gupta, Country Manager, ByBit India, adding the decline seems more sentiment-driven than structural.
Investors are shifting from volatile assets. Paras Malhotra SVP – Trade, Custody and BizOps at CoinDCX says as sentiment drifts toward extreme fear, traders are reacting with sharper sell-offs, while the rise in safe-haven assets like gold and silver suggests investors are temporarily moving away from volatile markets.
The rate cut expectations being delayed to next year has dampened investor’s sentiments. “Long-term holders who were betting on a surge based on past market cycles are selling, which is dwindling the momentum,” says WazirX Trading Desk.
The crypto market’s total capitalization has shed well over a trillion dollars in a few weeks, raising fears among some analysts of a potential return to a deeper “crypto winter.”
Experts call it a short-term correction rather a long-term reversal.
Despite the turmoil, the underlying fundamentals of the crypto ecosystem remain strong, argues Gupta, adding that such corrections serve as healthy resets, flushing out excess leverage and paving the way for a more sustainable uptrend.
He suggest to keep a long-term adoption outlook for crypto. “Once macro conditions stabilize and ETF inflows recover, Bitcoin is expected to lead the rebound, followed by a selective rotation into Ethereum and high utility altcoins,” Gupta adds.
Yet, looking at the market’s behaviour over the past week, this resembles a short-term correction rather than a major trend reversal, Malhotra states. “the current pullback appears to be driven by sentiment and short-lived selling pressure, rather than a shift toward a prolonged bearish phase,” he adds.
