On-chain sentiment platform Santiment warns that widespread bottom-calling in crypto markets may signal further downside ahead. Bitcoin briefly dropped below $95,000 on Friday, triggering social media predictions of a market bottom. However, Santiment notes that historical bottoms typically form when pessimism—not consensus optimism—dominates trader sentiment.

Bitcoin has posted a negative return over the past year, trailing U.S. long-duration Treasury bonds by approximately 6 percentage points. The cryptocurrency dropped roughly 25% from mid-October highs near $126,000 to $94,000, while retail search interest has declined to bear-market levels.

Bitcoin has fallen to approximately $95,000 this week, marking its third consecutive week of losses. The probability of a Federal Reserve rate cut in December has declined from 90% in late October to around 54%, according to Polymarket data. Institutional outflows continue as Bitcoin futures open interest dropped from nearly $100 billion to about $60 billion.

Bitcoin dropped below $94,000 on Friday, reaching its lowest level since early May. Market technician Axel Adler Jr. presented a valuation framework identifying $87,000 and $74,000 as critical downside zones, both now considered achievable based on current on-chain metrics. The decline has erased over $1 trillion from total cryptocurrency market capitalization since October.

Michael Saylor refuted speculation that Strategy sold bitcoin holdings after BTC dropped below $94,000 on November 14, 2025. Saylor confirmed the company bought BTC every day this week. Strategy holds 641,692 BTC worth approximately $62 billion.

Recent rumors claimed MicroStrategy sold over $1 billion in Bitcoin as prices dropped below $95,000. Investigation of on-chain data, SEC filings, and official statements confirms no sales occurred. Large wallet transfers represented custodian changes, not liquidations.

American Bitcoin posted a $3.5 million profit in the third quarter, reversing prior-year losses as mining margins widened to 56%. Revenue surged to $64.2 million from $11.6 million year-over-year. The company expanded its bitcoin holdings to 4,004 BTC, valued at approximately $400 million as of November 5.

Michael Saylor refuted rumors that Strategy sold Bitcoin holdings after on-chain wallet movements sparked investor concern on November 14, 2025. The speculation emerged during a market downturn, prompting Saylor to state via social media that no sales occurred. Blockchain data showed only internal transfers between Strategy-associated addresses rather than external transactions.