Bitcoin Trades at $92,777 Amid Fed Rate Doubts and Singapore Futures Launch

As of November 17, 2025, the price of Bitcoin (BTC) registered $92,777, marking a 1.97% decline from its previous closing price. This dip follows a substantial market correction from a peak exceeding $126,000 recorded earlier in October. The severity of this pullback resulted in Bitcoin experiencing its first negative October since 2018. Market participants are currently attributing the heightened volatility to shifting investor sentiment, specifically noting the decreased likelihood of the US Federal Reserve implementing an interest rate cut in December. The probability of such a cut has now dropped to approximately 50%, a significant reduction from the 90% chance estimated at the start of the month.

The recent price action saw Bitcoin briefly plunge to a six-month low around November 14, reinforcing a defensive posture among many traders. However, despite this short-term turbulence, the long-term outlook for the digital asset remains decidedly optimistic, underpinned by historical performance data and analytical models. Historically, November has been a strong month for Bitcoin, showing an average gain of 42.5% since 2013. It is worth noting, however, that the median return is closer to 8.8%, a figure heavily influenced by the massive 449% rally witnessed in 2013.

Leading financial institutions continue to issue bullish projections for the cryptocurrency. Analysts at Standard Chartered Bank project that Bitcoin could potentially reach $200,000 by the close of 2025. They base this forecast on the anticipated massive influx of capital into spot Bitcoin exchange-traded funds (ETFs). Sharing this optimism is Matthew Sigel, Head of Digital Asset Research at Van Eck, who expects the asset to climb to $180,000 or higher within the next year. This growth is expected to be fueled by increasing institutional acceptance and the structural impact of the upcoming Bitcoin halving event scheduled for 2024.

Institutional growth within the ecosystem provides a crucial counterpoint to the prevailing short-term macroeconomic pressures. The Singapore Exchange (SGX) announced on November 17 the impending launch of perpetual futures contracts for both Bitcoin and Ether. The launch date is set for November 24, designed specifically to cater to escalating institutional demand. These contracts will be exclusively available to accredited and institutional investors. They are structured to utilize the iEdge CoinDesk Crypto Indices to ensure transparent pricing and will feature a non-expiring structure. The SGX launch underscores Singapore's strategic ambition to establish itself as a regulated hub for digital asset innovation, applying institutional rigor to an instrument traditionally associated with offshore venues.

The dampened expectations regarding the Fed rate are intrinsically linked to broader macroeconomic factors, including persistent uncertainty surrounding US inflation. Historically, a 50 basis point reduction in the Fed rate has often served to renew Bitcoin’s upward momentum, as cheaper borrowing costs tend to increase demand for risk assets. Nevertheless, Bitcoin’s recent breach of the $100,000 threshold on November 13 occurred amidst growing concerns that the Federal Reserve would maintain current interest rate levels at its next meeting. Standard Chartered analysts have observed that Bitcoin has successfully avoided the typical post-halving slump, suggesting a fundamental shift in market dynamics, largely because ETF inflows and corporate treasury adoption were not present in previous cycles. Matthew Sigel of Van Eck notes that while corporate adoption still lags—as traditional asset managers slowly adapt their models—he sees significant potential in the growing number of public companies adding Bitcoin to their balance sheets. The market focus is clearly shifting from retail participation (which accounts for about 80% of ETF holders) toward institutional players, a key factor supporting robust long-term forecasts despite recent price retreats.