By November 2025, Bitcoin's price has been subject to extreme volatility. After soaring past the $126,000 mark in October, it took a steep nosedive, briefly dropping below $95,000. This dramatic decline wiped out all its gains for the year, leading to a staggering loss of approximately $600 billion in total market capitalization. Market analysts have pinpointed several key factors behind this downturn. "Whales" (individuals or entities holding large amounts of Bitcoin) and long-term investors have been offloading their holdings. Institutional funds are also pulling out, likely due to a combination of risk aversion and shifting investment strategies. On the regulatory front, a global tightening of rules around cryptocurrencies is creating an uncertain environment. Additionally, broader macroeconomic uncertainties are casting a shadow over the market. From a technical perspective, Bitcoin has breached crucial support levels. Its short-term moving averages are clearly trending downward, a sign often interpreted as bearish by traders. This has led to a shift in market sentiment, with investors becoming increasingly cautious. Among retail investors, there's a strong undercurrent of "wait and see," as many hold back from making significant moves until the market shows clearer signs of recovery.