Key Highlights:
- Bitcoin (BTC) price dropped below $95,000 in the early hours of November 17, 2025.
- BTC spot ETF saw $1.1 billion in outflows in the last 7 days.
- If BTC does not surpass the $102,800 mark, the next support stands at $93,000.
In the early hours of November 17, 2025, Bitcoin (BTC) continued its decline where it slipped below the $95,000 mark as the pullback intensified. The token hit the $93,029.42 mark and there have been several reasons for this drop. This has been the token’s steepest seven-day fall since April 2025. In the past 7 days, the token has plummeted by 10.72%.
At press time, the price of BTC stands at $95,059.42 with a drop of 0.81% in the last 24 hours as per CoinMarketCap.
ETF Outflows Accelerate as Institutions Pull Back
Bitcoin spot ETFs continued to face pressure in the last seven days as it recorded their third straight week of net outflows. According to SoSoValue data, these ETFs saw a combined outflow of $1.1 billion in the last 7 days.
Moreover, in the last 24 hours, there has been an increase in the trading volume of Bitcoin which indicates that the investor activity has surged. The ETF outflows and surge in trading volume indicates that it is a sign of profit taking or broader withdrawal.
Only ARK 21Shares Bitcoin ETF (ARKB) managed attracting fresh capital and recorded a modest $1.68 million net inflow. Whereas, iShares Bitcoin Trust ETF (IBIT) and BTC saw the largest withdrawal, with $532 million and $290 million in outflows respectively.
Even though there has been a pullback in the last seven days, Bitcoin spot ETFs continue to be an important part of the market. As per SoSoValue, the total assets now stand at $125.34 billion, which is 6.67% of Bitcoin’s market capitalization, which shows Bitcoin still has strong influence even in the strong-term pullback.
Derivatives Unwind Adds to Selling Pressure
The recent volatility is not constricted to just the spot market, this volatility has also spread to the derivatives market as well, which has added more pressure on the price of the Bitcoin token. In the last 24 hours, almost $617 million worth of crypto positions have been liquidated across various exchanges. Most of this, around $394 million, came from long positions, as traders who were using long positions were forced to exit after the ETF-led selloff.
Open interest in Bitcoin futures and perpetual contracts has gone down by 30% since October 2025, which indicates that the traders are cautious and they are taking less risks ever since. Funding rates on perpetual swaps have turned slightly positive at 0.006%, which means that long traders are still active, but the overall momentum is still weak.
This clean up in the derivatives market cuts on both sides. It removes the extra leverage that previously boosted prices, but it also reduces the speculative energy needed for strong recoveries.
Technical Breakdown Indicates Bearish Momentum
From a technical point of view, Bitcoin’s close below its 50-week simple moving average (SMA) has historically acted as a bull-bear dividing line, which supported various rebounds since early 2023. Losing that level for the first time in over a year reinforces the growing bearish bias.
The 14-day relative strength index (RSI) now hovering just above oversold territory (low 30s), while the moving average convergence divergence (MACD) indicator continues to flash a bearish divergence pattern. These signals suggest that momentum remains negative even as short-term traders eye a potential relief bounce.
Technical analysts now describe the market as transitioning from a “buy-the-dip” to a “sell-the-rally” regime. Until Bitcoin reclaims the $102,800 mark, and traders can expect lower highs and continued downside pressure toward $93,000. A decisive breakdown below that support could trigger another wave of institutional selling, deepening the correction.
Also Read: Czech National Bank Launches Legal Bitcoin Test Portfolio
