The Bitcoin price crash has continued, with the token falling below $90,000 on Tuesday, pushing the broader market into one of its greatest corrections of 2025. The decline pushed the asset toward the $89,000 region, a level not seen since February, and erased the year’s accumulated gains.
Whales Increase Exposure as Retail Capitulates
According to data from the crypto analytics platform Glassnode, the gap between large and small Bitcoin holders has increased rapidly. Retail investors suffered significant losses after Bitcoin broke below $100,000, triggering panic among wallets holding smaller balances. Additionally, CryptoQuant reported that more than 148,000 BTC were sold at a loss by these accounts, particularly those that entered the market between $102,000 and $107,000.
Meanwhile, accumulation among major investors increased. Glassnode reported a sharp rebound in whale wallets holding more than 1,000 BTC. Wallets fell to a yearly low of 1,354 on Oct. 27 while Bitcoin traded near $114,000. However, on Monday, the count climbed to 1,384, marking a 2.2% rise and a return to levels last seen four months ago.
Major Liquidations Trigger Steeper Drops Across Crypto Markets
As of press time, Bitcoin is currently trading at $91,402, down 4.35% over the last 24 hours. However, the broader market endured over $19 billion in liquidations during the ongoing correction, while total crypto valuations shed more than $1 trillion since early October. Bitcoin’s slide to about $89,420 marked a nearly 30% retreat from its all-time high of roughly $126,000 posted six weeks earlier.
Furthermore, wallets holding at least 1 BTC also experienced notable strain. Their count decreased from 980,577 BTC to a yearly low of 977,420 BTC. The pattern contradicts a recent narrative that attributed Bitcoin’s decline to long-standing holders cashing out, as on-chain data instead shows pressure building among smaller accounts rather than older investors.
Winklevoss Calls Current Levels a Potential Final Discount
Amid the volatility, Gemini Co-Founder Cameron Winklevoss, in an X post, commented that Bitcoin’s move near $90,000 could represent one of the last major buying opportunities before a recovery.
This is the last time you’ll ever be able to buy bitcoin below $90k!
— Cameron Winklevoss (@cameron) November 18, 2025