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Bitcoin News Update: Bitcoin Remains Steady While Altcoins Plunge Amid Market Sell-Off

Bitcoin News Update: Bitcoin Remains Steady While Altcoins Plunge Amid Market Sell-Off

Bitget-RWA2025/11/20 11:52
By:Bitget-RWA

- Bitcoin stabilizes near $93,555 amid market turmoil while altcoins hit multi-month lows due to $801M in 24-hour liquidations. - A 13-year dormant Satoshi-era wallet triggering 2% price drop and fear index hitting 14/100 heightens bearish concerns. - Cboe's perpetual-style crypto futures and global stimulus packages may reshape liquidity as Bitcoin tests $100,000 threshold. - Galaxy Digital notes algorithmic deleveraging rather than systemic weakness, with $3B in DeFi borrows signaling structural shifts.

Bitcoin Remains Stable as Altcoins Experience Significant Downturn Amid Market Volatility

Despite turbulent market conditions, Bitcoin (BTC) has managed to hold its ground near $93,555, even as intense selling has driven altcoins to their lowest points in months. Bitcoin's resistance to further losses has sparked discussion among investors—some interpret this as a sign of a potential market bottom, while others caution that bearish trends could persist. The total value of the cryptocurrency market, now at $3.12 trillion, has

over the last 41 days, with liquidations exceeding $801 million in just the past day.

One major factor behind the recent market swings has been the reactivation of long-dormant wallets.

, a wallet dating back to the Satoshi era, which had stored 12,000 BTC (worth $1.4 billion) for 13 years, moved its assets to an exchange, causing a 2% dip in price. This event renewed concerns about a potential large-scale selloff, especially as nears important technical thresholds. that the fear and greed index has plunged to 14 out of 100—a level not seen since the 2025 Bitcoin crash and the Luna debacle. Meanwhile, the closure of the CME Bitcoin futures gap remains in focus, with traders preparing for a possible drop below the $100,000 psychological mark.

Bitcoin News Update: Bitcoin Remains Steady While Altcoins Plunge Amid Market Sell-Off image 0
, as the Altcoin Season Index lingers around 30/100 amid shrinking liquidity. (ETH) and other leading cryptocurrencies have dropped over 5% in the last day, intensifying a broader selloff that has eliminated more than 154,000 positions. has hit long traders the hardest, with $500 million in long positions erased recently. High-leverage trades have also unraveled, including a $168 million leveraged short on HyperLiquid that wiped out a trader's holdings before they attempted to recover with new positions.

Amid the turmoil, some investors maintain a cautious sense of optimism. Galaxy Digital's recent analysis points to a trend toward clearer leverage frameworks, with DeFi platforms such as

and Fluid drawing $3 billion in loans since their launch on . that, although recent liquidations were severe, they were the result of automated deleveraging on exchanges rather than underlying systemic issues.

of "perpetual-style" Bitcoin and Ethereum futures is designed to streamline operations, providing 23-hour trading and cross-margining advantages. This initiative mirrors efforts by the Singapore Exchange and CME, both of which have broadened their 24/7 crypto futures offerings to cater to increasing institutional interest.

Looking forward,

may influence the market's direction. Global stimulus efforts—such as Japan's $110 billion plan and China's $1.4 trillion initiative—could boost liquidity by early 2026. Nevertheless, traders are likely to remain cautious until Bitcoin surpasses key resistance points, with that a close above $105,000 could revive bullish sentiment. For now, the market stands at a crossroads between fatigue and opportunity, with past patterns indicating that intense fear often comes before sharp market rebounds.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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