Bitcoin experienced a notable decline this week, dropping below the $92,000 threshold to trade at $91,500 after a single-day drop of 5%. Over the last 30 days, the leading cryptocurrency has seen a total decline of 17%, reflecting heightened volatility in the market.
The latest price movements have prompted Cameron Winklevoss to assert on X that investors should take advantage of the prices, claiming, “This is the last time you’ll ever be able to buy Bitcoin below $90k,” a sentiment that raises eyebrows given the digital asset’s potential long-term trajectory.
Indeed, the Winklevoss brothers have previously likened Bitcoin to gold and have predicted monumental price surges, potentially reaching $1 million. This perspective positions the current pullback as a prime buying opportunity for those who can weather the current market fears.
The sharp decline followed Bitcoin’s peak at $126,200 on October 6, 2025, which was quickly followed by a wave of liquidations that wiped out nearly $20 billion in leveraged bets. This fluctuation has left investors in a state of heightened caution.
Recent Trading Dynamics and Whale Activity
Market analysts suggest that the recent downturn is typical following peaks that occur roughly 400 to 600 days after Bitcoin halving events. This is underscored by reports indicating that the present weakness appears to be a normative unwinding of margin positions rather than a collapse in underlying demand.
Data reported from blockchain analytics indicate a growth in the number of large wallet holders, with addresses holding over 1,000 Bitcoin increasing from 1,354 to 1,384 between late October and mid-November. This 2.5% increase in whale addresses signals that large investors are seizing the opportunity to accumulate more Bitcoin while smaller holders are potentially retreating from the market.
Conversely, the total number of wallets holding less than one Bitcoin has decreased from 980,577 to 977,420 during the same timeframe, indicating a potential shift in market confidence.
Markus Thielen from 10X Research highlights that these larger investors are actively buying, thus absorbing the selling pressure that is currently prevalent in the market.
Crypto Sentiment Reflects Fear
The Crypto Fear & Greed Index has plunged to a level of 15, a stark reflection of the extreme fear pervasive in the market, a measure not seen since mid-2022.
Analyst JA Maartun noted the extreme fear readings and pointed toward factors such as ETF outflows and escalating geopolitical tensions that are contributing to market pressures. Despite the current downturn, Bitwise CIO Matt Hougan labels the current price situation a “generational opportunity,” suggesting a positive outlook amidst warnings from others about potential further declines.
On Wednesday, Bitcoin fell to a low of $88,540, marking the first instance of trading below $89,000 since late April. However, it rebounded to approximately $91,500 due to favorable Nvidia earnings results, in which the company reported record revenues of $57 billion, boosting both tech and crypto stocks in after-hours trading.
With market dynamics shifting rapidly, including the influence of major corporate earnings on crypto prices, investors and analysts alike are carefully watching to gauge the next moves in this volatile landscape.
As the dust settles from recent price swings, only time will tell if Winklevoss’s bullish forecasts will hold true or if further market adjustments are on the horizon.
