Bitcoin (BTC) is trying to stage a recovery on the afternoon of Nov. 18 after briefly falling below $90,000 and wiping out its gains on the year.
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Bitcoin’s price was last trading at $93,400 after falling to its lowest level in seven months at the start of the trading session. The largest cryptocurrency by market capitalization has declined steadily over the past week and had been down as much as 30% from an all-time high of $126,000 reached in October.
Bitcoin is now flat on the year having briefly erased all of its gains for 2025 and trading in the red for the first time since the tariff market crash this spring. Other cryptocurrencies, including Ethereum (ETH), are also staging a rebound after falling consistently in recent weeks. The price of ETH is down about 40% from a record high reached in August of this year.
BTC and Interest Rates
While some analysts say that crypto prices are falling alongside mega-cap technology stocks such as Nvidia (NVDA) and Microsoft (MSFT), others blame the selloff on concerns that the U.S. Federal Reserve won’t lower interest rates at its December policy meeting.
Futures markets are now pricing in a less than 50% chance that the U.S. central bank lowers rates by 25 basis points on Dec. 10. BTC recently formed a new “death cross” technical pattern. A death cross occurs when an asset’s 50-day moving average crosses below its 200-day moving average. Technical analysts view this pattern as extremely bearish, saying it signals continued weakness for an asset.
Is Bitcoin a Buy?
Most analysts don’t offer ratings or price targets on Bitcoin. So instead, we’ll look at the three-month performance of BTC. As one can see in the chart below, the price of Bitcoin has fallen 20% in the last 12 weeks.
