Bitcoin Drops to $93,000, Erasing 2025 Gains
Bitcoin fell sharply to $93,000 early Monday in Asia. This wiped out all its gains for 2025 and triggered widespread fear across the crypto market. Over $510 million in liquidations affected more than 150,000 traders, mostly long positions. The Fear and Greed Index plunged from 90 in early November to 22, signaling extreme fear.
The decline followed a volatile weekend and happened amid rising global uncertainties. Analysts view this moment as critical for the market’s near-term direction.
What Caused the Bitcoin Price Drop?
The sell-off started late Sunday and worsened early Monday. Bitcoin lost almost 24% from its October peak of $125,000. This ranks among the steepest two-week corrections in 2025.
Falling below $94,000 broke a key psychological support. It confirmed a short-term downtrend after months of upward momentum. The Fear and Greed Index’s drop—from euphoria to extreme fear—reflects this shift.
Market analyst KillaXBT highlighted that Bitcoin’s rare weekend decline set a bearish tone for Monday. Based on the last 300 days, there is a 36% chance that this could form a short-term bottom.
Impact of Mass Liquidations and Next Steps
The price drop caused major liquidations in leveraged trading. According to Coinglass, 151,000 traders were liquidated, losing millions. In one hour, long positions lost $40 million; losses in four hours reached $77 million. Bitcoin liquidations totaled $41.6 million, followed by Ethereum’s $14 million. Other large-cap coins like Solana, XRP, and Dogecoin also faced sell pressure.
Analysts are now watching key support zones. Immediate support is near $94,100 and $93,500, Bitcoin’s yearly open. A deeper support range lies around $89,000 to $91,000. Breaking below $85,000 could signal a broader trend reversal and deeper losses in December. If Bitcoin holds these levels, it might revisit $98,000 to $100,000, which is vital to restoring bullish confidence.
Tom Lee, Chairman of BitMine and Fundstrat managing partner, said the drop reflects structural stress, not weakening fundamentals. He pointed to a possible balance sheet issue with crypto market makers. Lee warned that opportunistic traders may be pushing prices down to force liquidations. Despite the correction, he remains long-term bullish on Ethereum and the broader blockchain sector. Lee advises investors to avoid leverage for now. He expects recovery to start 6 to 8 weeks after Thanksgiving when market stress eases.
The crypto market now faces a critical crossroads. Bitcoin’s movement at key support levels will shape sentiment and price trends heading into December.
