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Bitcoin Plunges 25% from Record Highs, Sparking Debate on Market Cycle
17 Nov
Summary
- Bitcoin drops below $94,000, down 25% from October record highs
- Analysts see short-term consolidation, not historical 60-70% drawdown
- Institutional adoption and regulatory support offer potential support
As of November 17th, 2025, Bitcoin (BTC-USD) has experienced a significant decline, falling below $94,000 and losing around 25% of its value from the record highs reached in October. This drop has prompted discussions about whether the cryptocurrency is undergoing a temporary correction or the beginning of another four-year cycle that could lead to a more prolonged sell-off.
The recent sell-off was exacerbated by the liquidation of $19 billion in leveraged positions last month, as well as long-term holders taking profits. However, analysts at Bernstein believe the current market environment does not indicate a cycle peak, but rather a structural, multi-year trend of increasing institutional participation in the Bitcoin and crypto capital markets, with occasional corrections along the way.
