Institutional investors are purchasing Bitcoin at a pace that offsets selling by long-term holders, according to ARK Invest. Bitcoin's liveliness metric hit 0.89, the highest level since 2018, indicating significant movement of coins held for years. ETFs and corporate treasuries controlled approximately 2.39 million BTC as of November 15, 2025.

Bitcoin mining facilities that adjust operations based on grid demand are increasingly valued as a grid service in power markets. High renewable energy regions face elevated curtailment levels, while brief scarcity periods create value for rapid demand reduction. This dynamic enables mining operations to absorb excess midday power and scale back during peak demand hours.

Digital asset markets lost $1.1 trillion between October 6 and November 17, with Bitcoin declining 25% from above $126,000 to around $93,000, data show. Analyst Shanaka Anslem Perera described the event as a structural reset driven by over-leveraged positions rather than a typical cycle correction. The contraction represents one of the sector's most severe drawdowns on record.

Bitcoin dropped to the $92,500 range after breaking below the $93,000 support level that had held for several months. Technical indicators including the weekly SuperTrend, RSI, and MACD have all turned bearish, signaling potential further downside. Institutional selling has intensified, with BlackRock reportedly offloading BTC through its ETF, adding to downward pressure on the market.

CBOE Global Markets will introduce Bitcoin Continuous Futures (PBT) and Ether Continuous Futures (PET) on December 15, pending regulatory review. The CFTC-regulated contracts feature a 10-year expiration with daily cash adjustments. Trading will operate 23 hours per day, five days per week, offering U.S. traders perpetual-style exposure within a regulated framework.

Bitcoin dropped below $100,000 as exchange volumes fell to approximately $430 million from $1.3 billion on October 11, according to blockchain data. Market participants have observed persistent selling pressure without public disclosure, fueling speculation that a major holder may be reducing positions. CryptoQuant CEO Ki Young Ju suggests long-term holders are rotating assets to institutional investors rather than exiting entirely.

Cboe Global Markets will launch bitcoin and ether continuous futures contracts on December 15, pending regulatory approval. The products will offer perpetual-style exposure on a U.S.-regulated platform with 10-year expiries and daily cash adjustments to maintain alignment with underlying asset prices.

BitMEX co-founder Arthur Hayes attributes Bitcoin's 25% decline from its all-time high to contracting U.S. dollar liquidity rather than political factors. Hayes notes his proprietary USD Liquidity Index has fallen 10% since April, even as Bitcoin initially rallied 12% during the same period. He identifies spot Bitcoin ETF flows and basis trades as temporary factors that masked underlying macroeconomic weakness.