BlockBeats News – November 18th: Bitcoin 跌破 $90,000 for the first time in nearly seven months, with a single-day drop of 5.9%, plunging over 28.7% from its recent all-time high. As the market grapples with uncertainty over when the decline will halt and where the ultimate bottom might form, BlockBeats has compiled key analyst insights surrounding this downturn:
Placeholder VC Partner Chris Burniske stated that bull market top characteristics are already evident, and he plans to re-enter positions when BTC falls to $75,000 or lower. “The October 11th crash has inflicted lasting damage, making it difficult to quickly form sustained buying interest. While monthly charts for BTC and ETH show cracks, they remain within the ‘top range.’ Meanwhile, declining MicroStrategy (MSTR) share prices, coupled with warning signs from gold and credit markets, signal an imminent broader asset correction.”
BitMEX Co-Founder Arthur Hayes believes Bitcoin may first test $80,000-$85,000 before surging to $200,000-$250,000 by year-end. In his latest blog post, he argued: “Bitcoin has fallen from $125,000 to around $90,000, while the S&P 500 and Nasdaq 100 hover near all-time highs. This disconnect leads me to believe a credit event may be brewing. If broader risk markets collapse and the Federal Reserve and Treasury accelerate money printing, Bitcoin could rally to $200,000-$250,000 by year-end.”
Chinese crypto analyst Ban Muxia suggests Bitcoin may dip to $94,500 before entering a complex consolidation phase, with the ultimate bottom around $84,000: “This is likely to be a complex sideways correction. In the near term, we may see a minor drop to around $94,500, followed by an extremely complicated consolidation—potentially rallying above $116,000—before gradually declining to $84,000 and possibly 6-8% lower.”
Tom Lee, Chairman of Bitmine (Ethereum’s largest institutional holder), noted that it may take 6-8 weeks to repair the market impact from liquidity providers facing funding gaps, with relief potentially coming after Thanksgiving (November 27th). “The pain is short-term and won’t alter Ethereum’s super cycle—Wall Street building its ecosystem on blockchain.”
Yi Lihua, Founder of Liquid Capital (formerly LD Capital), maintains: “We firmly believe this is the optimal time to buy spot and remain bullish on the subsequent trend. Be greedy when others are fearful. One day in crypto feels like a decade in traditional markets—while the decline from the peak has lasted over a month, with negative news exhausted, buying presents a far better option than selling.”
Hong Hao, Bloomberg Businessweek Person of the Year and twice-named China’s Most Influential Economist, posted on Xiaohongshu (Little Red Book) that Bitcoin’s drop to $92,000 may find meaningful support around the $70,000 level.
Trader Eugene Ng Ah Sio revealed he has turned bullish and increased long positions in ETH and SOL: “Added to ETH and SOL long positions. Oscillators have clearly moved into oversold territory, and I believe it’s time to start re-increasing risk exposure in this market.”
