Bitcoin Reclaims $93,000 — Early Signs of a Bullish Reversal?

Bitcoin has reclaimed the $93,000 level after briefly falling below $90,000, rebounding from a seven-month low of $88,790 recorded earlier today. The cryptocurrency posted a 1.76% gain in the last 24 hours, trading at $93,372.43 at press time.

Despite the recovery, Bitcoin remains down 9.47% over the past week. Trading volume has declined to 27.94%, reflecting reduced market activity. The rebound follows the cryptocurrency’s weakest November since 2018 and worst monthly performance in over three years.

Adding to the macro backdrop, President Donald Trump signed an executive order positioning the United States as the global hub for Bitcoin and crypto. The move signals clearer regulation, greater institutional access, and expanded mining infrastructure, aligning with Trump’s earlier pledge to make America the world’s leading crypto power.

Bitcoin Gains as U.S. Banks Get Crypto Approval

The Office of the Comptroller of the Currency (OCC) authorized U.S. banks to hold cryptocurrency for blockchain fee payments. The move eliminates third-party dependencies for banking institutions seeking to integrate crypto services.

The regulatory development aligns with Bitcoin’s 1.45% rise following the announcement. Markets priced in reduced compliance risks for institutional capital flows into the cryptocurrency sector.

Meanwhile, Strategy acquired 8,178 BTC for approximately $835.6 million at roughly $102,171 per bitcoin. As of November 16, 2025, Strategy now holds a total of 649,870 BTC acquired.

El Salvador has also purchased 1,090 BTC ($100M), bringing its total Bitcoin holdings to 7,474 BTC ($688M).

Bitcoin Faces Institutional Selling, Strong Hands Accumulate Amid Extreme Fear

Galaxy Digital offloaded 2,800 BTC worth $258 million through Coinbase Prime, adding to sell-side pressure. BlackRock transferred $478 million in Bitcoin and Ethereum, reflecting continued institutional distribution.

On-chain data reveals long-term holders distributed 815,000 BTC over the past month. However, whales sold only 29,400 BTC at a loss. Realized losses remain small, and spending patterns match previous bull cycles rather than panic selling.

Glassnode data shows long-term holder profit-taking has doubled since July, averaging 26,500 BTC daily. Even seven-year-old wallets have been selling in controlled intervals, indicating structured distribution rather than capitulation.

In contrast, strong-hand holders have accumulated over 185,000 BTC since October. This represents one of the largest accumulation spikes in recent cycles, yet prices continue declining. Historically, such aggressive demand from price-insensitive holders precedes sharp market moves.

Derivatives markets show a 21% drop in open interest since October. The leverage reset typically precedes healthier reversals. Futures CVD slope and Perpetual CVD have plunged to extreme negatives, showcasing strong sell-side dominance.

Futures Open Interest remained stable, indicating an orderly sell-off rather than a surge in leverage. Spot market trading volumes edged lower, and ETF outflows moderated significantly. Options markets remain defensive with elevated 25-delta skew and rising volatility spread.

On-chain activity softened as transfer volumes, fee revenue, and Realized Cap Change all declined. The Fear and Greed Index stands at 13, signaling extreme fear for the fifth consecutive day.

Bitcoin Technicals Show Oversold Conditions Amid Bearish Trend

Bitcoin’s 14-day RSI dropped to 30.20, entering oversold territory. The indicator suggests sustained pressure on momentum but also potential for a short-term bounce. The RSI has been trending downward, confirming bearish momentum overall.

The MACD shows strong bearish divergence with both lines in negative territory. The MACD line sits at -964.29 while the signal line reads -3,483.21. The widening gap between lines suggests increasing selling pressure.

Bitcoin is testing its 365-day moving average around $102,000. Key support levels are established at $94,000, $87,000, and $74,000. The cryptocurrency remains 19% below its 200-day simple moving average of $110,451.

Immediate resistance appears at the seven-day SMA of $97,225. A sustained move requires closing above $95,000 to invalidate the bearish MACD histogram reading of -1,023. Breaking above $95,000 could target $97,225, while failure risks retesting $88,790.

Bitcoin continues trading in a confirmed downtrend with lower highs and lower lows since October. The current price action suggests consolidation or a minor bounce due to oversold conditions. However, the overall structure remains bearish until proven otherwise through a decisive reclaim of the $100,000 level.