Bitcoin Updates Today: Bitcoin's $80,000 Support Falters as Regulatory Changes and Increased Selling Pressure Emerge

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Bitcoin Updates Today: Bitcoin's $80,000 Support Falters as Regulatory Changes and Increased Selling Pressure Emerge

Bitget-RWA2025/11/18 10:24

By:Bitget-RWA

- Bitcoin drops to $89,900, with weak $89,600–$79,500 support raising fears of a breakdown below $90,300 amid heavy selling pressure. - Binance short positions dominate 6.4:1 ratio, while exchange reserves surge $1.43B, signaling panic exit preparations and reduced buyer leverage. - Japan reclassifies 105 cryptos as financial products, and Brazil considers stablecoin tax, adding regulatory uncertainty to crypto markets. - Institutional activity diverges: BitMine expands ETH holdings, while Mt. Gox’s $953M

Bitcoin’s latest price drop has drawn increased attention from the market, as experts caution that a key support zone could decide if the next bottom falls below $80,000. The digital asset has slipped to $89,900, marking a 16% decrease over the past month. On-chain metrics and exchange balances show a transition from forced liquidations to intentional selling. On Binance,

short contracts now outnumber long positions by a ratio of 6.4 to 1

, indicating less leverage on the buying side and hinting at a possible extension of the downturn. Over the last five days, exchange reserves have grown by 15,924 BTC—worth $1.43 billion at current rates—

pointing to investors bracing for rapid sell-offs

The $89,600–$79,500 price band, as shown by the UTXO Realized Price Distribution (URPD),

casts doubt on Bitcoin’s capacity to find stability

. This area is thinly defended by holders, which increases the likelihood of a drop below $90,300. Meanwhile, institutional involvement is showing mixed signals. BitMine Immersion, the largest

Ethereum

treasury globally, has boosted its stash to 3.6 million ETH, and CEO Lee

reaffirmed a strong long-term outlook for crypto cycles

, referencing positive momentum from Ethereum’s upgrades and the rise of tokenization.

Regulatory developments are adding further complexity.

Japan's Financial Services Agency

has now classified 105 digital assets as financial products, a step that will likely raise compliance requirements. In Brazil, authorities are weighing an expansion of the financial transaction tax (IOF) to include cross-border stablecoin transfers, potentially increasing government revenue as it faces fiscal challenges. With stablecoins making up 67% of Brazil’s $42.8 billion crypto trading volume in the first half of 2025,

the proposed tax could limit arbitrage and help tackle money laundering concerns

Despite historical patterns, market sentiment remains negative. On-chain analyst Murphy

observed that almost 40% of Bitcoin’s circulating supply

is currently at a loss, a level previously seen before recoveries in 2018 and 2020. Yet, these rebounds have not led to lasting bull markets, as excess supply continues to hinder a sustained rally. MarketWatch’s historical analysis

highlights Bitcoin’s inconsistent results after bear market entries

: while the typical six-month return is 31%, some cycles have seen prices fall by 70% after a year.

Major institutions are also facing instability. Mt. Gox’s recent $953 million

Bitcoin

transfer—the first significant movement in eight months—

has sparked anxiety among creditors due to ongoing repayment delays

from its 2014 bankruptcy. In contrast, Strategy Inc.

announced $10 billion in Q2 profits

, using Bitcoin’s price appreciation to strengthen its reserves even as the broader market declined.

The next few weeks will challenge Bitcoin’s ability to recover. If the price fails to move back above $90,300, a further slide toward $80,000 could follow, while regulatory changes in Japan and Brazil may add new waves of volatility. For now, the market is caught between historical trends and present-day unpredictability, leaving investors on the sidelines as the crypto winter persists.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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