Markets are experiencing turbulence today with Bitcoin facing downward pressure, while Pi Network hints at a potential bullish breakout. Here’s your briefing for Thursday, November 20, 2025.
Bitcoin slips below $90,000 as ETF outflows mount
Bitcoin has extended its losses, now trading around $88,600 – its lowest level since April and beneath the pivotal $90,000 threshold. This decline stems from a significant turnaround in Spot Bitcoin ETF flows, with almost $3 billion in gross outflows recorded this month. Analysts suggest that the waning ETF demand is eroding the market’s underlying support.
- ETF outflows are removing a crucial demand source, increasing market vulnerability.
- Bitcoin’s price has now dipped below essential cost-basis levels, indicating weakening market health.
- Derivatives markets show subdued activity, with traders increasingly opting for downside protection.
- US-based ETF holdings have sharply declined from 441K BTC on October 10 to just 271K BTC today.
“Retail investors are not buying the dip,” remarked Julio Moreno, head of research at CryptoQuant. “The absence of new bids from institutional players raises significant concerns.”
Pi Network: Bullish setup amid falling exchange supply
Conversely, Pi Network (PI) is surfacing as a beacon of strength amidst Bitcoin’s struggles. The coin has formed a potentially bullish technical setup, bolstered by dwindling exchange supply and increased dip-buying activity. Recently, it successfully defended the $0.225 support zone, igniting renewed interest among traders.
- Current price stands at $0.23266449, sporting a market cap of $1.93 billion.
- Technical indicators suggest a breakout may occur if the $0.2515 resistance level is surpassed.
- Some analysts foresee a potential rise to $0.315 if momentum continues to build.
- Pi Network asserts MiCA compliance, pushing for regulated exchanges within the EU.
However, not all forecasts project optimism. Some models indicate a possible decline to $0.1894 by December 20, 2025, particularly concerning given the Fear & Greed Index sitting at a dire 11 (Extreme Fear). Still, recent price movements and increased trading activity hint at the possibility of a recovery.
Other notable crypto news
- Ethereum is currently testing key $2,800 levels, and analysts are watching for potential upside.
- XRP is poised in a bullish breakout zone ahead of the upcoming Bitwise spot ETF launch.
- Solana has fallen through support in a widespread crypto sell-off, with analysts warning of a drop to $120.
- Zcash is looking to break out from an inverse head-and-shoulders pattern, targeting a 40% gain.
- Dogecoin has managed to hold above $0.15 with a double bottom forming, suggesting a possible rally.
- Kraken has confidentially filed for an IPO amid ongoing sector volatility.
- BlackRock moves closer to launching its Ethereum staking ETF.
- India has introduced a rupee-pegged digital asset named Arc, in collaboration with Polygon and Anq.
Market sentiment and outlook
The overall sentiment in the crypto market remains cautious. Ongoing ETF outflows, weak spot demand, and muted derivatives activity are fostering a risk-averse atmosphere. Nevertheless, some assets, such as Pi Network and Zcash, exhibit resilience, implying that potential opportunities exist even amidst a general downturn.
Traders should stay vigilant, monitoring vital support and resistance levels, keeping a close watch on ETF flows, and remaining alert for quick changes in market sentiment.
Key takeaways
- Bitcoin is facing strain, with ETF outflows and lackluster spot demand contributing to the decline.
- Pi Network is exhibiting a bullish setup, though volatility remains a factor.
- Altcoins like Ethereum, XRP, and Zcash are testing crucial price levels.
- Ongoing regulatory developments and product launches are influencing the marketplace.
Stay tuned for more updates as the market evolves.
