Bitcoin loses 2025 gains: $90,000 marks Crypto Market turning point

[Ben Graham]

Price action has been sending dark foreshadowing signs since mid-October, evident in the rapid but inconsistent manner recent all-time highs were reached.

As explained in preceding crypto analysis from our blog, the $100,000 level for BTC not only served as a key milestone but was also a pivotal sign of progress in the crypto landscape.

Having decisively breached it and extending losses to multi-month lows below $90,000, leveraged investors, late buyers, and trend followers are all scratching their heads.

The price action hasn't formed a complete U-turn from the highs yet, but the question is now arising: Is it time for fear and prolonged profit-taking in the crypto market?

Or should I say it: Is it time for a Crypto bear market?

zoom_out_map

Daily overview of the Crypto Market, November 18, 2025 – Source: Finviz

After a deadly picture throughout the past 5 days, a rebound seems to be playing out. Is it a dead cat bounce or actual Dip buying ?

Comparing to stock bear markets where prices need to correct 20% from highs, things are different in more volatile cryptos – 20% moves in crypto are far too common.

Bitcoin has already dropped around 30% from its October high of $126,000 (!)

Most altcoins have corrected even further, with Ethereum down around 35% from its August 2025 high and Solana around 50%.

Some key technical supports are coming through right now, so let's discover them to assess if we are indeed in Crypto winter or not through a multi-timeframe Bitcoin (BTC) analysis.

Read More:

• US Stocks remain on edge: Why the market is struggling for direction
• NVIDIA (NVDA) Q3 2025 Earnings Preview: Navigating the AI Stress Test

A parenthesis on the Total Market Cap

zoom_out_map

Total Crypto Market Cap, November 18, 2025 – Source: TradingView

The Total Market cap dropped from a $4.27 trillion record to just around $3.13 trillion, a large 26% correction.

Looking out, the market still remains above the 2021 record which is proof of the progress Cryptos have made since.

Keep an eye on if the Market bounces from here or what happens if we breach the $3.01 trillion level.

Bitcoin multi-timeframe technical analysis

Daily Chart

zoom_out_map

Bitcoin Daily Chart, November 18, 2025 – Source: TradingView

Bitcoin has steeply corrected since breaking its $100,000 Support, leading to bearish acceleration beyond the downward channel.

Still, the $90,000 to $93,000 support is being targeted by dip-buyers as an entry zone when looking at the current rebound in Cryptos.

The price action is balanced in the very-short run from the dip-buying, but to relaunch the higher timeframe corrective trend, participants will need to race back above $100,000.

Keep a close eye on the price action if Markets come back to this level.

A weekly close below the $90,000 opens the door to further downside.

4H Chart and technical levels

zoom_out_map

Bitcoin 4H Chart, November 18, 2025 – Source: TradingView

Levels of interest for BTC trading:

Support Levels:

• $90,000 to 93,000 major support (immediate test)
• Current Weekly Lows $89,340
• $85,000 mid-term Support (+/- $1,500)
• $75,000 Key long-term support

Resistance Levels:

• $98,000 to $100,000 Main Support, now Pivot (MA 50 at $100,000)
• Resistance at previous ATH $106,000 to $108,000
• Current ATH Resistance $124,000 to $126,000
• Current all-time high $126,250
• $116,000 to $118,000 Resistance

1H Chart

zoom_out_map

Bitcoin 1H Chart, November 18, 2025 – Source: TradingView

The ongoing dip-buying is strong which allows price action to come back in the more-neutral downward channel. A confirmed break below would have been even more bearish.

If bulls maintain the current rebound, a potential retest of the higher bound of the channel could point to a $105,000 retest which should prompt new analysis if prices get there.

Still, keep a close eye on three elements:

• Holding above the $93,380 50-H MA relaunches short-term momentum.
• Watch what happens at the Major Pivot Zone ($98,000 to $100,000) as it also contains the 200-Hour MA. Above this, mid-term momentum will be back from bearish territory.
• Keep an eye on any move below the Weekly lows that may trigger further stops.

Safe Trades!

Follow Elior on Twitter/X for additional Market News, Insights and Interactions @EliorManier

Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.
If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.
Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.
© 2025 OANDA Business Information & Services Inc.