Bitcoin tumbled under the $90,000 mark on Tuesday, November 18, 2025—its lowest level in seven months—marking a dramatic reversal in sentiment across global financial markets.
The world’s biggest cryptocurrency, which only weeks ago hit a record high above $126,000, has now erased all of its gains for the year. The steep drop leaves Bitcoin nearly 30% below its October peak, highlighting how quickly enthusiasm for risk assets has cooled.
According to data cited in a Reuters report, Bitcoin hovered around $89,953 during early afternoon trading in Asia, extending last week’s heavy losses after the token slipped through a key support zone at $98,000.
Market participants say the rout has been fuelled by renewed uncertainty surrounding the timing of U.S. interest rate cuts, coupled with a broader risk-off tone spreading through global markets after months of rapid gains.
Analysts told Reuters that until investors gain clarity on the Federal Reserve’s next policy steps, appetite for speculative assets—including cryptocurrencies—is likely to remain muted.
“The mood has clearly shifted,” one trader noted, suggesting that the sharp downturn in crypto reflects a wider hesitation among investors to make aggressive new bets.
The slide has also hit companies tied to digital assets. Firms that hold large crypto reserves—such as Strategy—as well as mining giants like Riot Platforms and Mara Holdings, have seen their share prices slump. Crypto exchange Coinbase has likewise been dragged lower amid deteriorating sentiment.
Across Asia, equity markets mirrored the digital-asset pullback. Tech-heavy indices in Japan and South Korea recorded significant declines as investors reassessed exposure to high-growth sectors.
Other major cryptocurrencies have not been spared. Ether, the second-largest token by market value, has endured sustained selling for months and now sits nearly 40% below its August peak of over $4,955. The token dipped another 1% on Tuesday, trading near $2,997.
Concerns Grow Over Potential Spillover Into Stock Markets
The renewed crypto downturn has revived fears that weakness in digital assets could spill over into equities—echoing market patterns seen earlier this year. A sharp fall in Bitcoin preceded a notable stock-market pullback in April following U.S. tariff announcements, prompting some investors to question whether the current decline may once again serve as an early warning signal.
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For now, traders remain wary. The speed and intensity of the recent sell-off, they say, could keep global markets on unstable footing in the days ahead.
