Bitcoin Market Under Pressure: Death Cross Confirmed as Major Investors Sell Billion-Dollar Holdings

Bitcoin Stabilizes After Massive Losses

The Bitcoin price shows initial signs of recovery following the sharp downward movements of recent weeks. The oldest cryptocurrency is trading again above $85,000 after losing roughly 30 percent from its October all-time high of approximately $125,000 ^[2]. The broader crypto market is also recovering modestly: Ethereum is approaching the $2,800 mark with a moderate gain of around two percent, while XRP is rising by approximately four percent, surpassing the $2 mark ^[2].

Total market capitalization is moving back just above three trillion US dollars ^[2]. Nevertheless, market sentiment remains tense, as evidenced by the Fear & Greed Index, which continues to hover in the extreme fear range ^[2].

Death Cross Confirms Ongoing Downtrend

A so-called Death Cross has been confirmed on the Bitcoin chart—the short-term 50-day moving average has fallen below the long-term 200-day moving average ^[2]. This technical pattern is considered an indication that an existing downward movement is gaining momentum. Historically, in previous cycles, further price declines often followed a Death Cross, although most of the correction had typically already occurred by that point ^[2].

Recent losses were amplified by extensive liquidations. On November 21, positions totaling more than two billion US dollars were closed, including over $940 million in Bitcoin and approximately $400 million in Ethereum ^[2]. The temporary fall below $80,000 marked the lowest level since February ^[2].

Major Investors Liquidate Billion-Dollar Positions

Particular attention is currently being drawn to the sales by longtime major investors. In October, large Bitcoin addresses sold more than 400,000 BTC—a sales volume that significantly burdened the market in a weak environment ^[1]. Early investor Owen Gunden divested his entire holding of approximately 11,000 BTC, worth about $1.3 billion ^[1]. On Friday, author Robert Kiyosaki also confirmed the sale of his Bitcoin position worth approximately $2.25 million ^[1].

Peter Schiff Warns of Accelerated Corrections

Renowned gold investor and Bitcoin critic Peter Schiff sees an increased risk of further price setbacks in these developments. Schiff referred to an "IPO moment" on X, noting that the market now has sufficient liquidity to absorb such sales ^[1]. With larger quantities transitioning from long-term holders to new market participants, available supply increases. Schiff warns that future price corrections could consequently become more severe ^[1].

Experts Offer Divergent Forecasts

While some analysts expect further significant pullbacks, investor Lyn Alden sees conditions for a "major capitulation" as unlikely ^[3]. "It's usually not as good as people expect, and usually not as bad as people expect," Alden said ^[3]. She also emphasized that investors must stop taking bull cycles for granted: "Nobody is owed a bull market" ^[3].

Alden expects Bitcoin to reclaim the $100,000 level in 2026 and reach new all-time highs either this year or in 2027 ^[3]. Concurrently, ongoing discussions regarding potential overvaluation in the tech sector and a December interest rate cut by the US Federal Reserve—assessed as unlikely—are weighing on overall risk sentiment ^[2].