Bitcoin edges higher after dipping below $90,000
Bitcoin traded slightly up on Tuesday after briefly falling under $90,000, its lowest level in seven months, as cautious sentiment continued to weigh on the broader crypto market, Qazinform News Agency correspondent reports.
Bitcoin recovered to about $93,532 by late Tuesday, gaining nearly 1.9% after dropping to $89,286 earlier in the day. The cryptocurrency has erased all gains accumulated this year and remains roughly 26% below its October peak of more than $126,000.
Analysts said the latest decline reflects ongoing concerns about U.S. monetary policy and weakening appetite for risk across global markets. According to CoinGecko, approximately $1.2 trillion in total crypto market value has been lost over the past six weeks.
Market observers also highlighted that institutional and corporate investors have been scaling back positions built up during the previous rally, adding pressure during a period of thin support. Recent outflows from U.S. spot bitcoin ETFs have contributed to the downturn. Since October 10, approximately $3.7 billion has been withdrawn from these funds, including $2.3 billion in November, according to Morningstar data.
Some analysts noted that retail traders remain hesitant after last month’s sharp market correction, which triggered an estimated $19 billion in liquidations of leveraged positions.
Shares of crypto-linked companies such as Strategy, Marathon Holdings, and Coinbase initially moved lower along with bitcoin but later recovered some losses during afternoon trading. The sector has seen a rise in publicly listed firms holding digital assets as part of their corporate strategy, though Standard Chartered Bank warned that a prolonged drop below $90,000 could result in many of these holdings falling below purchase value. Listed companies currently account for about 4% of bitcoin in circulation and 3.1% of ether.
Strategy, the largest corporate holder of bitcoin, continued to add to its reserves. Founder Michael Saylor said the company purchased 8,178 coins on Monday, bringing total holdings to 649,870 tokens at an average price of roughly $74,433 each.
Ether has also faced sustained pressure and is down nearly 40% from its August high above $4,955.
Earlier, on November 4, Qazinform News Agency reported that Bitcoin had fallen below $100,000 for the first time since June 23, 2025.
