BitMEX co-founder Arthur Hayes outlined a two-phase Bitcoin price scenario in his blog post "Snow Forecast," published Nov. 18. Hayes noted Bitcoin's decline from $125,000 to the $90,000 range while the S&P 500 and Nasdaq-100 remain near all-time highs, suggesting a potential credit event may be developing, supported by declining dollar liquidity index trends since July. He projected Bitcoin could fall to $80,000-$85,000 if equity markets correct 10%-20% and 10-year Treasury yields approach 5%, potentially forcing emergency monetary intervention. Should broader risk markets collapse and trigger accelerated money printing by the Federal Reserve and Treasury, Hayes estimates Bitcoin could surge to $200,000-$250,000 by year-end.

El Salvador purchased 1,090 BTC valued at $100 million, data from the country's Ministry of Finance website showed on November 18. The acquisition brings the nation's total bitcoin holdings to 7,474.37 BTC, currently worth over $686 million.

BlackRock's IBIT saw net outflows of $1.5536 billion across 10 trading days, Farside Investors reported on Nov. 18. The fund recorded outflows on 8 days totaling $1.8902 billion, while 2 days posted inflows of $336.6 million.

Several cryptocurrency treasury companies saw their mNAV ratios drop below 1 on Nov. 18, BlockBeats reports. Strategy (MSTR) recorded an mNAV of 0.937, with its $56 billion market cap trailing its Bitcoin holdings of 649,870 BTC valued at $59.9 billion. Metaplanet's mNAV stood at 0.912, with a $2.61 billion market cap against 30,823 BTC worth $2.84 billion. Bitmine (BMNR), the largest institutional Ethereum holder with roughly 3.51 million ETH valued at $10.63 billion, saw its market cap fall to $8.81 billion with an mNAV of 0.83. SharpLink (SBET), second in institutional ETH holdings with 860,000 ETH worth $2.61 billion, reported a market cap of $2.02 billion and an mNAV of 0.84.

Bitcoin fell below $92,000 on Nov. 18, down 2.55% in 24 hours, HTX market data show. Ethereum briefly traded below $3,000, declining 2.49% over the same period.

Bitcoin fell below $94,000 on Nov. 17, erasing all gains recorded after U.S. stock markets opened, HTX market data show. The cryptocurrency was trading at $93,865 at the time of reporting. Earlier in the session, Bitcoin had surged 2% within five minutes of the U.S. market open, briefly exceeding $96,000.

The Chicago Board Options Exchange will launch continuous futures contracts for Bitcoin and Ethereum on Dec. 15, Bloomberg reports. The new products will expand CBOE's cryptocurrency derivatives offerings.

Bitcoin rose about 2% shortly after U.S. stock markets opened on Nov. 17, briefly topping $96,000 before trading at $95,406, HTX market data show. The digital asset posted the sharp gain within minutes of the opening bell.