Bitcoin Plunges to Six-Month Low Amid Liquidity Crisis and Shifting Macro Outlook

As of November 14, 2025, the price of Bitcoin (BTC) experienced a significant downturn, settling into a range between $94,600 and $97,200. This marked the asset's lowest valuation since May 2025. The sharp correction unfolded against a backdrop of heightened market volatility, triggering a cascade of forced liquidations, and reflecting a broader retreat from risk assets across global financial markets.

This current market dynamic stands in stark contrast to the recent peak observed in early October 2025, when the cryptocurrency had comfortably surpassed the $126,000 threshold. The rapid depreciation was particularly acute on November 4, 2025, when Bitcoin approached the $100,000 level, coinciding with a massive $405 million worth of forced liquidations within a 24-hour period. By November 14, 2025, the pressure intensified, pushing total forced liquidations across the crypto space to $1.10 billion over 24 hours. Long positions bore the brunt of the losses, accounting for approximately $969 million in losses and affecting more than 235,000 traders.

The breach of the six-figure psychological barrier was closely tied to mounting macroeconomic uncertainty. Specifically, investors began revising their expectations regarding the timing of the US Federal Reserve's anticipated interest rate cut in December. Analyzing the technical landscape, Mike McGlone of Bloomberg Intelligence had previously characterized the period following the price drop below the 200-day moving average (which stood near $110,000 as of November 7) as a crucial phase for testing the asset's resilience. This widespread selling pressure was not confined to BTC; altcoins also suffered, with Ethereum dipping below $3,154 and Solana falling beneath $141.

The decline also prompted substantial outflows from institutional investment vehicles, notably spot ETFs. Net outflows reached $278 million on November 12 alone, contributing to a total monthly outflow of $961 million. Critically, this downturn ended Bitcoin's impressive 189-day streak of closing above the $100,000 mark, a run that had commenced on May 8. Historically, November is often considered a strong month for crypto performance, yet 2025 defied this pattern. Furthermore, the asset had closed October in the red—the first negative October close since 2018—a performance attributed by analysts to factors including unresolved tariff issues and persistent indecision from the Federal Reserve.

Despite the short-term turbulence and market panic, some analysts maintain a cautiously optimistic perspective. Firms like 21Shares view the current price action not as the beginning of a prolonged bear market, but rather as a necessary cyclical reset within a broader phase of institutional adoption. Moreover, technical analysis reviewed by CoinGape suggests resilience; the weekly timeframe indicates a bullish engulfing pattern, implying that BTC may be poised to test the recent high of $126,173 following this two-week correction period.