U.S. authorities conducted a multi-month investigation into Bitcoin mining hardware manufactured by China-based Bitmain over potential national security threats, according to a Bloomberg report published November 21. The inquiry, designated "Operation Red Sunset," involved the Department of Homeland Security and the National Security Council. Federal assessments identified concerns that the equipment could be exploited for surveillance or infrastructure disruption, while Bitmain denied any capability for remote operation.

Former BitMEX CEO Arthur Hayes said Bitcoin may be approaching a market bottom following this week's sharp decline. Hayes advised traders to wait for further stock market weakness before entering positions. He linked the cryptocurrency's trajectory to U.S. dollar liquidity conditions.

Nakamoto Holdings posted additional collateral to its $250 million Bitcoin-backed loan facility twice within one week as Bitcoin dropped below $92,000. The company, which holds a convertible note arrangement with Antalpha, transferred 1,000 BTC from its treasury on November 21 to meet margin requirements. CEO David Bailey stated that 367 BTC previously moved from holdings were invested in shares of other Bitcoin treasury companies rather than sold outright.

Strategy chairman Michael Saylor addressed concerns about potential removal from MSCI indices as the company's stock declined 44% over the past month. The firm holds 649,870 BTC acquired for approximately $48.4 billion and maintains positions in Nasdaq-100, MSCI USA, and MSCI World indices. Saylor emphasized the company operates as a publicly traded firm with a $500 million software business, distinguishing it from passive investment vehicles.

Bitcoin (BTC) dropped below $100,000, trading at approximately $85,300 and triggering increased liquidations across the cryptocurrency market. Major cryptocurrencies declined alongside Bitcoin, with Ethereum falling 3.62% to $2,727.15, Solana dropping 5.02% to $125.95, and XRP declining 4.24% to $1.92. Cais Manai, Co-Founder and Head of Product at TEN Protocol, characterized the decline as a standard market reset following the summer rally, noting that institutional participants continue accumulating positions despite reduced retail activity.

The Department of Homeland Security has conducted a months-long investigation into Beijing-based Bitcoin mining equipment manufacturer Bitmain, examining whether its devices pose national security threats. The probe, code-named "Operation Red Sunset," includes inspections of seized hardware at US ports and assessments of potential remote manipulation capabilities, according to reports.

Bitcoin has fallen 33% to $84,000 since registering a death cross on November 16, when its 50-day moving average crossed below the 200-day moving average. The CMC Fear and Greed Index now stands at 11, its lowest level since July 2023. Historical data shows death crosses have typically preceded positive returns within three months, though current macroeconomic conditions may present different dynamics.

Bitcoin fell below $86,000 to its lowest level in seven months, sparking debate among market analysts over the timing of the next major rally. Some forecasters maintain a $200,000 target could materialize in 2025, while others project the next parabolic move won't occur until 2029. The disagreement centers on cycle duration rather than long-term direction.