Crypto Talkies November 18th 2025
Bitcoin may be bleeding, but the conviction trade is alive and well. After a week of gut‑wrenching red candles, Bitcoin (BTC) just logged one of its most turbulent stretches since the last major cycle. U.S. spot ETFs saw historic outflows, futures flipped into the red, and macro jitters pushed BTC down toward the mid‑$90,000s and even below $100,000 at points. Sentiment has swung from “supercycle” to “is this all a bubble?” in record time. Under the surface, though, the story is less straightforward. ETF flows are ugly, but many of those redemptions appear to be long‑term holders finally cashing out into regulated vehicles. Analysts say what we’re seeing looks more like a deep correction than the start of a new bear market, with some calling for a possible stabilization zone closer to $80,000 if panic persists. In the meantime, whales are using the fear to shop: on‑chain data shows about 100,000 BTC quietly pulled off exchanges, and the number of big wallets holding 1,000+ BTC is cli...