Bitcoin fell below the 730-day simple moving average at approximately $81,250 on November 22, according to cryptocurrency analyst Ali Martinez. This technical threshold has historically preceded extended downward or sideways price action in previous market cycles. The asset was trading around $84,239 at press time, down over 11% for the week.

Bitcoin may see continued decline despite briefly rallying above $85,000, according to market strategists. The cryptocurrency remains under bearish pressure after breaking a multi-year ascending channel, with analysts expecting prolonged sideways movement before directional clarity emerges. The loss of support that held since 2023 forces traders to identify new foundational levels.

Strategy (formerly MicroStrategy) confronts a structural challenge as MSCI Inc. reviews whether to reclassify the firm as a Digital Asset Treasury vehicle rather than an operating company. The potential reclassification could trigger forced selling of between $2.8 billion and $8.8 billion by passive funds tracking MSCI equity benchmarks. Simultaneously, the firm's stock trades near parity with its Bitcoin holdings' net asset value, eroding the premium that historically enabled its capital-raising strategy.

Short-term Bitcoin holders are experiencing unprecedented unrealized losses, with approximately 99% of recently acquired coins trading below purchase price. The Fear & Greed Index has fallen to its lowest level in Bitcoin's history, below readings during the FTX collapse and COVID-19 crash. Institutional selling on Coinbase has reached record volumes, according to Capriole Investments founder Charles Edwards.

Bit Digital reported $30.5 million in revenue for the third quarter of 2025, a 33% increase from the prior year. The company expanded its Ethereum holdings fivefold to 153,547 ETH, valued at approximately $590.5 million as of October 31, 2025. Its AI cloud services unit, WhiteFiber, generated $18 million in revenue during the period.

Nearly 20,000 BTC, worth approximately $2 billion, moved to cryptocurrency exchanges over seven days as Bitcoin retested $82,000, data show. The increased exchange inflows coincided with sustained price weakness, bringing the asset to levels last seen in April 2025. On-chain metrics indicate large holders transferred significant volumes during this period, with one asset manager moving over $1 billion in Bitcoin within five days.

Bitcoin has declined 33% from its all-time high entering December, with active addresses, whale transactions, and liquidity reaching their lowest levels in months. U.S. Bitcoin ETFs recorded $11.5 billion in trading volume as investors repositioned amid the selloff. The cryptocurrency is exhibiting signs of structural weakness, according to Alphractal.

Bitcoin has fallen more than 12% over the past week, with CryptoQuant CEO Ki Young Ju identifying profit-taking by early investors as the primary driver. The selling pressure from holders locking in gains has created downward momentum. Ju suggests only significant macro liquidity inflows could reverse the current trend.