Crypto execs speculate on what’s to blame as Bitcoin slumped under $94K

Bitcoin has experienced a significant pullback, dropping below the key $100,000 price mark last week. Currently, the cryptocurrency is trading between $95,000 and $95,100. Despite this decline, the current drawdown remains milder than previous major corrections, indicating a less severe market reaction compared to past fluctuations.

US President Donald Trump has expressed support for a Senate proposal that would allow the imposition of tariffs up to 500% on imports from countries that continue to purchase Russian energy. The proposed tariffs would apply to oil, natural gas, petroleum products, and uranium, targeting major buyers like India and China. This measure aims to reduce Russia's export revenues, although it remains a proposal and has not yet become law. The announcement has caused significant volatility in the cryptocurrency market.

The Crypto Fear and Greed Index has fallen back to its lowest levels since 2022, reflecting a significant downturn in the cryptocurrency market. On November 17, Bitcoin's price dropped to $93,000, contributing to increased liquidation pressure across major assets. This decline in the index indicates heightened fear among investors, suggesting a bearish sentiment in the market as prices tumble.

Harvard University's endowment has significantly increased its investment in Bitcoin by making a spot Bitcoin ETF its largest reported US equity holding. This move indicates a growing institutional confidence in Bitcoin as a viable asset. Additionally, the Bitcoin Hyper presale is approaching $28 million, aiming to enhance Bitcoin's transaction speed and reduce fees, which could further support its adoption in decentralized finance (DeFi) and other blockchain activities.

As of November 17, 2025, 95% of Bitcoin has been mined, leaving just over 2 million Bitcoins remaining to be mined. This milestone marks a significant point in the cryptocurrency's lifecycle, indicating that the majority of Bitcoin supply is now in circulation. The remaining Bitcoins will be mined over time, which could influence market dynamics and investor behavior as the total supply approaches its limit.

Adam Back has stated that Bitcoin is not facing any significant quantum threat for at least the next 20 to 40 years. He emphasized that the adoption of NIST-approved post-quantum standards can be implemented in a timely manner, ensuring the security of Bitcoin against potential quantum computing risks in the foreseeable future.

SGX Derivatives has announced the launch of Bitcoin and Ether perpetual futures contracts, which will be available for trading starting November 24. These contracts are tied to the iEdge CoinDesk Crypto Indices, marking a significant development in the cryptocurrency trading landscape.

Michael Saylor, executive chairman of MicroStrategy (MSTR), has stated that the company's strategy is designed to endure a significant Bitcoin crash. In a live interview on November 14, Saylor emphasized that even a drastic drop in Bitcoin's value would not compel him to liquidate MicroStrategy's core holdings. He indicated that Bitcoin would need to fall by 90% for the company to face serious collateralization issues, highlighting the strength of its balance sheet with approximately $8 billion in debt and substantial equity tied to Bitcoin.