“Bitcoin” is witnessing the most violent waves of decline, falling below $84,000

Bitcoin is witnessing one of the most violent waves of decline since the beginning of the year, after it plunged from its historic peak of $126,000 in October to less than $84,000 during Friday morning trading, a decline that raised global questions about whether the largest cryptocurrency is facing an existential crisis or whether it is going through a new round of sharp correction to which it has become accustomed throughout its history.

Although Bitcoin had previously lost more than 70% of its value during previous sessions, what is striking this time is that major traders do not show any appetite to buy when it falls, in an unusual phenomenon within digital asset markets.

Some expectations suggest that the price may fall below $80,000 before the end of the year, with selling pressures remaining dominant in the market.

According to Coinglass data, the November 18 session witnessed the liquidation of buy and sell positions worth $950 million in light of the extreme volatility, while the company “MicroStrategy”, affiliated with the famous investor Michael Saylor, is facing pressure to re-evaluate its positions after the price fell below its approved basic buying levels.

The controversy escalated between Bitcoin supporters and opponents. While some see what is happening as nothing more than a healthy correction after an unprecedented wave of rise, others warn that weak demand from institutions and the absence of large buyers may represent an indication of a new phase of deep decline.

The question remains: Are the “whales” leading a temporary decline that paves the way for historic leaps later? Or is Bitcoin already facing an existential test that may determine its future for decades to come?