Bitcoin’s Cyclical Test: Navigating Profit-Taking and Macro Headwinds Post-$92K
As Bitcoin briefly touched $92,000 in late November 2025, the broader cryptocurrency market remained ensnared in a significant downturn. Leading analysts from Merkle Tree Capital and Banxa identify a confluence of factors driving the slump: cyclical profit-taking by long-term holders and whales following the recent bull run, sustained outflows from major ETFs, and overarching geopolitical tensions creating macroeconomic instability. This phase is characterized as a predictable market cycle where early investors are capitalizing on gains, leading to increased selling pressure. Despite this pervasive bearish sentiment, a notable counter-trend emerges with projects like DeepSnitch AI, which successfully raised over $553,000 in its presale, demonstrating that selective, fundamentals-driven investor appetite persists even in a cooling market. The current landscape suggests a period of consolidation and recalibration for Bitcoin, as the market digests the profit-taking phase and awaits a new catalyst to rebuild momentum beyond the recent peak.
Crypto Market Downturn: Experts Cite Expected Cycle, DeepSnitch AI Presale Defies Trend
Bitcoin's brief recovery to $92,000 on November 19 failed to dispel market unease as analysts attribute the broader crypto slump to cyclical whale selling, ETF outflows, and geopolitical tensions. Merkle Tree Capital's Ryan McLillin notes long-term holders are taking profits post-bull run, while Banxa's Holger Arians points to macro instability.
Amid the downturn, DeepSnitch AI's $553,000 presale highlights selective investor appetite for projects with tangible utility. The AI analytics platform has raised $555,000 during its second stage, demonstrating resilience through its predictive technology suite.
Bitcoin ATMs Debut in Nairobi Malls Amid Regulatory Warnings
Bright orange Bitcoin ATMs have materialized in Nairobi's high-traffic shopping centers, including Two Rivers Mall and Westlands, just days after Kenya's Virtual Assets Service Providers Act took effect. The machines, branded 'Bankless Bitcoin,' enable cash-to-crypto transactions—positioning digital assets alongside traditional banking infrastructure.
Regulators remain cautious. The Central Bank of Kenya and Capital Markets Authority issued a joint statement clarifying that no VIRTUAL asset service providers have yet been licensed under the new framework. The law grants these agencies oversight of crypto exchanges, wallets, and related platforms, with anti-money laundering provisions taking center stage.
While Treasury officials draft implementing regulations, the unauthorized installations highlight Kenya's accelerating crypto adoption. The juxtaposition of unlicensed kiosks in regulated financial spaces underscores the tension between innovation and compliance in emerging markets.
Crucial Day Looms for Cryptocurrencies: What to Expect 20th November?
November 20th marks a pivotal moment for cryptocurrency markets, with heightened volatility anticipated as BTC struggles to reclaim key resistance levels. The asset reversed course after heavy sell-offs but remains below the critical $92,000 threshold, reflecting persistent bearish sentiment.
All eyes turn to Nvidia's earnings report, due at 00:20 UTC, which could reshape market dynamics. The chipmaker's performance carries outsized importance for tech-exposed crypto projects, particularly amid growing AI sector partnerships like Microsoft-NVIDIA Claude. These developments arrive as analysts maintain a 3-5 year profitability horizon for most blockchain ventures.
While US markets show signs of stabilization, EU regulatory progress on supply chain issues—highlighted by the resolved Nexperia dispute—may indirectly benefit digital assets. The Chinese Ministry of Commerce's intervention in the semiconductor standoff removes a key friction point in global tech relations.
BlackRock Bitcoin ETF Sees Largest Daily Outflow in History
The BlackRock bitcoin ETF has recorded its largest daily outflow to date, signaling a shift in investor sentiment amid a broader market downturn. Bitcoin's price has faced significant pressure in recent weeks, with ETF flows now mirroring the bearish trend.
Some analysts interpret the outflow as a potential contrarian indicator, suggesting the market may be nearing a bottom. The cryptocurrency's volatility continues to test institutional appetite for digital asset exposure.
New Hampshire Approves First U.S. BTC-Backed Municipal Bond
New Hampshire has made history by approving the first Bitcoin-backed municipal bond in the United States. The $100 million bond, cleared by the state's Business Finance Authority on November 19, will use BTC as collateral to fund public infrastructure projects. Wave Digital Assets and Rosemawr Management structured the innovative financial instrument, with legal compliance ensured by Orrick law firm.
The bond marks a significant step in bridging cryptocurrency and traditional debt markets. By introducing digital assets into the $140 trillion global debt market, New Hampshire sets a precedent for institutional adoption. "Our goal is to bridge traditional fixed income with digital assets," said Les Borsai of Wave Digital Assets, highlighting the bond's compliance with institutional investor requirements.
Jim Cramer Suggests 'Cabal' May Be Propping Up Bitcoin Above $90,000
Jim Cramer, the outspoken CNBC host, has floated a theory that an unidentified group could be artificially maintaining Bitcoin's price above the $90,000 threshold. The speculation emerges as BTC trades at $91,684 despite a 12% weekly decline, sparking debates about market manipulation in cryptocurrency circles.
The notion of coordinated price support contradicts Bitcoin's typical volatility patterns, raising eyebrows among traders. Market analysts note such conspiracy theories often surface during periods of unusual price action, though concrete evidence remains elusive.
