Bitcoin sees new $90K BTC price target as 3% dip sparks liquidations

Bitcoin (BTC) fell over 3% on Nov. 25 as traders called for calm over new BTC price weakness.

Flash Bitcoin volatility punishes late longs

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD falling to lows of $94,600 on Bitstamp in volatile conditions after the Wall Street open.

Bulls failed to hold a relief bounce from an initial trip below $96,000 before the weekly close, and even positive external developments could not buoy the mood. These included news that the conflict between Israel and Hezbollah had reached a ceasefire agreement.

In contrast to Bitcoin, United States equities were mildly up at the time of writing.

Elsewhere, business intelligence and software firm MicroStrategy announced that it had purchased Bitcoin worth $5.5 billion in the week through Nov. 24 — traditionally a move that initiates downside when confirmed.

Reacting, commentators including trading resource Material Indicators look a longer-term view.

“After a rapid rise from election day, and over $200M in $BTC asks stacked around $100k, you shouldn’t be surprised that Bitcoin is searching for support,” it wrote in part of a post on X.

An accompanying chart showed key liquidation levels on largest global exchange Binance.

“If we don’t see a double (local) bottom bounce from here, I’m looking at the $89k – $91k range,” it added.

Data from monitoring resource CoinGlass put total cross-crypto liquidations at around $430 million for the 24 hours to the time of writing.

“If you could truly understand what Bitcoin has in store for us, you wouldn’t feel scared or nervous about any dip or pullback it might take while pausing before shooting higher,” popular trader BitQuant continued in their own X post. 

“Stay calm, observe the market, and pay attention to the emotions around you so you can recognize similar patterns in the future. Developing the ability to remain calm when everyone else is losing their heads is essential.”

$100,000 BTC price odds collapse

In a sign of how sensitive market sentiment is to short-term BTC price moves, predictions of Bitcoin hitting $100,000 this month fell instantly on the latest dip.

Related: Who cares about $100K? 5 Things to know in Bitcoin this week

Data from betting platform Kalshi put the odds of a $100,000 price tag before the end of November at just 42% at the time of writing. On Nov. 23, the tally stood at 85%.

Chances of reaching the $100,000 mark before 2025, however, remained higher at 75%.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.