Bitcoin News Today: Bitcoin Drops $90K—Is It a Move by Institutions or a Sign of Market Correction?

For the first time in several months, Bitcoin’s value has dropped below $90,000, reigniting discussions about whether a secretive group of major institutions is deliberately supporting the cryptocurrency to conceal underlying market vulnerabilities. This theory, recently highlighted by CNBC’s Jim Cramer, has gained momentum as spot

ETFs experience historic outflows, macroeconomic conditions shift, and .

After reaching an all-time high of $126,251 in October, Bitcoin has now lost all of its gains for the year, trading at $91,526 as of November 18. Experts attribute this downturn to a combination of declining interest from institutions, long-term holders cashing out, and a general reduction in risk appetite across global markets. "

, institutional withdrawals, economic uncertainty, and the liquidation of leveraged positions," explained Jake Kennis, a senior research analyst at Nansen.

One of the main drivers behind the recent drop has been the significant withdrawals from spot Bitcoin ETFs, which have seen $3 billion leave in just this month.

, the largest among these funds, saw a record $523 million in outflows on November 13, according to Bloomberg. This comes after months of steady inflows that had fueled Bitcoin’s surge, with ETFs collectively holding $169 billion in assets by mid-2025. The reversal has removed a key source of stability, increasing volatility and shaking investor confidence.

At the same time, Abu Dhabi’s Mubadala Investment Co. has unexpectedly become a central figure in the ongoing debate.

in the months before the recent downturn, according to Bloomberg. Mubadala’s moves, along with its recruitment of crypto specialists such as former Canada Pension Plan executive Ben Samild, demonstrate that institutional interest in Bitcoin remains strong despite its price swings. Still, some critics believe these actions could be disguising deeper weaknesses, as governments and large investors continue to experiment with Bitcoin as a strategic asset.

. While commending Capital One’s acquisition of Discover Financial as a “blockbuster” transaction, the Mad Money host implied that a group of influential players is artificially sustaining Bitcoin’s price. “Certain AI stocks offer more potential for higher returns and carry less downside risk,” he remarked, indirectly raising doubts about whether Bitcoin’s growth is based on fundamentals or orchestrated manipulation. He contrasted this with his more negative assessment of PayPal, noting that even strong leadership hasn’t prevented the stock from falling 24% this year .

The notion that Bitcoin’s price is being supported by coordinated efforts has found some support from crypto entrepreneur Mike Alfred, who believes the U.S. government will only establish a Strategic Bitcoin Reserve when “enough external pressure” forces its action. Alfred’s perspective highlights a broader skepticism about how slowly Washington is embracing crypto, with some analysts warning that delays could let countries like El Salvador or Pakistan surpass the U.S. in building up Bitcoin reserves.

Amid these developments, traders now estimate there’s a 50% probability that Bitcoin will finish 2025 below $90,000, according to options platform Derive.xyz. This pessimistic view is further influenced by the Federal Reserve’s evolving approach to interest rates, with the likelihood of a December rate cut now seen at just 46.6%. “Unless BTC climbs back to the upper end of its range, market participation will likely remain limited and prevailing narratives will be short-lived,” commented Wintermute, a crypto trading firm.

The next few weeks will reveal whether Bitcoin’s current downturn marks the start of a prolonged bear market or is simply a short-term correction. For now, the combination of institutional strategies, regulatory ambiguity, and Cramer’s provocative comments has left the market uncertain, with no clear direction for the digital asset.