Bitcoin price plummets to $85k! Will it crash to $80k or bounce back? Find out!

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Oh, dear! The price of Bitcoin went tumbling down faster than a toddler on roller skates, crashing to a miserable $85,000 on Friday. Investors holding onto their long positions were left clutching their wallets, eyes wide with shock, as the market took a nosedive, fueled by a sharp selloff and those pesky ETF outflows. Is the worst still to come? Let’s dive in and find out. 👀

Bitcoin’s price dropped like a lead balloon thanks to a long squeeze, where traders holding long positions were hit with a tsunami of liquidations. According to Coinglass, a whopping $443 million worth of long positions were liquidated in just 24 hours, compared to a paltry $26 million in short positions. Those long holders were probably cursing their luck as they watched their money vanish into thin air. 💸

As if that wasn’t enough, investors are also getting nervous because of persistent outflows from the 12 U.S. spot Bitcoin ETFs. Poor Bitcoin’s been dealt a bad hand lately! According to SoSoValue, these ETFs have suffered net outflows of $1.45 billion this week alone, and for November? Well, that’s a grim total of over $3 billion. Two months ago, these same funds were the darlings of Wall Street, raking in nearly $7 billion in inflows. Talk about a dramatic twist in the story! 🧐

Investors’ confidence is taking a nosedive, and the Crypto Fear and Greed Index is stuck at a terrifying 14-extreme fear. It’s been hanging out there for the last nine days. Sounds like a Halloween nightmare that won’t end! 😱

Could Bitcoin drop below $80k? Hold onto your hats! 🎩

Now, here’s where it gets interesting (and a little scary). Analysts are all over the place on what’s next for Bitcoin. Some think we’ve hit a local bottom, while others say the selloff might just be getting started. Spoiler alert: no one knows for sure! 🙄

Kadan Stadelmann, CTO of Komodo Platform, says Bitcoin could dip another $10,000 in the short term before bouncing back. Oh, joy! He’s confident that things will get better by 2028, especially as we head toward the next Bitcoin halving. I mean, who doesn’t want to think that far ahead? But hey, let’s cross that bridge when we get there. 🕰️

On the flip side, Georgii Verbitskii, founder of TYMIO, isn’t feeling as optimistic. He believes Bitcoin’s in for a “prolonged bearish period.” Sounds like a rainy season for Bitcoin, doesn’t it? Verbitskii thinks that the slow, steady decline we’re seeing is the worst possible sign. And the next major support zone? Oh, just around $80K to $77K. Not quite the fun ride we all wanted, huh? 😓

So there you have it-Bitcoin’s on a wild ride, and it’s anyone’s guess where it’ll stop. Will it hit $80k, or will it bounce back with a vengeance? Only time will tell, but for now, grab your popcorn and stay tuned. 🍿

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2025-11-21 11:26