Tokyo-listed Metaplanet has drawn an additional $130 million from its bitcoin-backed credit facility to fund further BTC acquisitions and income-generation activities. The loan was executed on November 21 under the company's existing $500 million facility, bringing total borrowings to $230 million. Metaplanet holds 30,823 BTC, valued at approximately $2.7 billion, which the company says provides substantial collateral coverage.

Bitcoin traded at $87,372 as its Sharpe Ratio approached zero, a threshold last seen three times since 2019. Each prior occurrence preceded multi-month trend shifts. Analysts say the metric signals improved risk-adjusted potential, though near-term volatility persists.

Strategy (MSTR) could face approximately $8 billion in selling pressure if MSCI proceeds with index removal, according to TD Cowen analysis. The investment firm estimates $2.5 billion stems from direct MSCI holdings, with another $5.5 billion potentially at risk from other indexes. MSCI's review questions whether Bitcoin treasury companies qualify as operating entities for index inclusion.

Bitcoin miners face unprecedented profitability challenges as network computing power reached 1.16 zettahashes per second in autumn 2025. Bitcoin prices slipped into the low $80,000 range at the start of November, creating a sharp disconnect between rising operational demands and declining revenue per unit of hashrate. ASIC hardware payback periods have stretched beyond 1,200 days—the longest repayment cycle the industry has recorded, according to The Miner Mag data.

Bitcoin approached $88,000 on Monday after declining to $80,600 last week, marking its second day near a critical resistance level. Analysts warned that failure to establish support in the $88,000-$90,000 range could push prices toward new monthly lows. Market participants remain divided on whether recent stabilization signals the beginning of a sustained upward trend.

Bitcoin fell to around $79,500 in mid-November before recovering toward $88,000, but wallets holding over 1,000 BTC continue selling. Mid-sized holders with 10–1,000 BTC accumulated during the decline, while futures liquidations reached levels comparable to the FTX collapse in November 2022.

Veteran commodity trader Peter Brandt published a technical chart identifying Bitcoin's recent recovery as a potential dead cat bounce. The analysis highlights a narrow trading corridor between $88,000 and $92,000. Bitcoin declined from above $120,000 to the low $80,000s over two weeks before the rebound.

Data shows wallets holding 100 BTC or more have increased by 91 since November 11, while addresses with 0.1 BTC or less continue declining. The divergence suggests accumulation by large investors during recent downward pressure. Historical patterns indicate such phases often precede broader market recoveries.