On the evening of November 20th, the cryptocurrency market experienced widespread volatility. Data from the OKX exchange reveals that Bitcoin saw a modest 0.1% increase over the past 24 hours, trading around $91,720.
Meanwhile, other cryptocurrencies exhibited mixed performance. Ethereum declined by nearly 3% to $3,000, BNB dropped over 2.5% to $900, and XRP fell by almost 1% to $2.10. In contrast, Solana recorded a nearly 2% gain, reaching $141.
According to CoinTelegraph, Bitcoin’s price has undergone a significant downturn, losing approximately 26.7% of its value—slightly higher than the 26.5% drop in April. This marks the steepest decline since the beginning of the current bullish cycle.
Bitcoin is currently trading at $91,720. Source: OKX
Many experts suggest this could be the final shakeout phase, where leveraged investors are forced to liquidate their positions.
Bitcoin researcher Axel Adler Jr. notes that market stress remains high following the sharp decline earlier this week, with the stress index at 67.82—above the caution threshold but not yet in the severe danger zone.
Market pressure has eased slightly in the past 24 hours, though new signs of anxiety persist.
The Fear and Greed Index reflects this sentiment, dipping below 10 before recovering to 15, still firmly in “Extreme Fear” territory.
Historically, when this index reaches such lows, Bitcoin tends to rebound strongly. On average, prices can rise by 10% within a week, sustain gains for 15–30 days, and even surge by 23% after 80 days and 33% after six months.
Analyst Victor characterizes the current downturn as a “buy-the-dip” opportunity, typically seen during the final stages of market capitulation rather than signaling a cycle peak.
Real-time data confirms that many investors are selling Bitcoin at a loss, with nearly 65,200 Bitcoin transferred to exchanges at prices below their purchase value, underscoring widespread panic.
While this doesn’t guarantee an immediate price recovery, current indicators suggest the correction may be nearing its conclusion, potentially paving the way for Bitcoin’s next recovery phase.
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