Bitcoin Near $90K as Europe Drives November Sell-Off, Markets Await Fed Decision
Bitcoin (BTC) held near $90,400 on Tuesday as crypto markets steadied following one of November’s steepest losses since 2018. Liquidity remained thin ahead of Wednesday’s Federal Reserve announcement, while broader markets maintained their recent rebound.
BTC gained roughly 1% over the past 24 hours, with Ether (ETH) up 0.2%, according to CoinGecko. Major altcoins were mixed: BNB rose nearly 1%, SOL dropped 0.6%, and XRP edged lower.
European Trading Fuels Decline
Data from Presto Research shows Europe was the primary driver of November’s 20–25% BTC and ETH drawdowns. European sessions recorded deep negative returns, while Asian and U.S. trading sessions remained largely flat, highlighting regional divergence amid crypto de-leveraging.
Institutional Moves
Strategy reported its largest Bitcoin purchase in over three months, acquiring 10,624 BTC for $963 million, largely funded via new equity issuance. Total holdings now stand around 660,600 BTC, valued at roughly $60 billion. The company’s shares traded near $180, down 50% over six months as investors monitor MSCI index risks.
Macro and Sentiment Pressures
Macro conditions continue to weigh on crypto. Asian equities fell as traders awaited Fed guidance on rate cuts and easing into 2026. Bond yields remained elevated, putting pressure on high-beta assets. Crypto sentiment is fragile: CryptoQuant’s Bull Score dropped to zero for the first time since January 2022, with most BTC on-chain indicators turning bearish.
Looking Ahead
Traders are monitoring whether BTC can climb toward $94,000–$98,000 or if European trading continues to apply downward pressure as year-end positioning tightens. Medium-term catalysts, including potential U.S. 401(k) rule changes in early 2026, could expand Bitcoin exposure to trillions in retirement savings.
