Nov. 15 at 10:07 PM
$BTC.X + Bitcoin ETFs (
$IBIT $FBTC.X
$ARKB) breaking below
$95K isn’t “crypto drama” — it’s macro hitting the panic button.
ETF outflows near
$1B, options skew flipping hard to puts, and market depth down ~30%.
That’s not a dip. That’s a risk-off repricing of the entire system — and BTC is simply the highest-beta casualty.
The real debate now isn’t ±10% moves.
It’s whether this slide morphs into another 12–24 month bear cycle, like the 2021→2022 unwind.
Crowded longs getting wiped, ETF flows reversing, liquidity evaporating — this is macro de-leveraging wearing a crypto mask.
$BTC.X isn’t crashing alone.
It’s just telling you where global risk appetite actually is.
