November 19 BTC market analysis:

1. The price fluctuates greatly: Today, BTC has been bouncing between 90,000 and 95,000, with a 24-hour change of 4.2%. Yesterday, it even dropped to 89,000, down 29% from the October high of 126,000, wiping out all the profits made this year.

2. Everyone is panicking: the market "fear index" has dropped to 16, indicating extreme fear. Many people are rushing to buy "downside protection" (put options), with over $740 million expiring at the end of November; in the past 24 hours, bullish investors have lost $650 million due to liquidations, more than double that of bearish investors.

3. Divergent Views Among Institutions: On one hand, the US BTC and ETH have seen continuous capital outflows for five weeks, with large institutions (whales) reducing their holdings by 12% in November; on the other hand, some Wall Street experts believe that Bitcoin could rise to $150,000 to $200,000 by the end of the year, with some whales starting to buy the dip in the $92,000 to $95,000 range.

4. Policies may change: The Trump administration is reviewing new regulations aimed at taxing American citizens' overseas cryptocurrency assets. If implemented globally by 2027, this could affect everyone's investment decisions.

5. Weakened expectations for interest rate cuts are key to the major drop: Now everyone thinks the probability of the Federal Reserve cutting interest rates in December is only 44.4%. Money has become harder to borrow, and assets like Bitcoin that do not earn interest have been neglected, which is the main reason for this round of major decline. #逆势上涨币种推荐 $BTC