November 18, 2025

Ethereum has officially fallen below 3000, and Bitcoin is just a slight decline away from the support level of 90,000. To be honest, this drop is a bit fast for me to digest; it feels like just the other day I was excited about Ethereum about to break through 5000. Bitcoin's highest price was 126,000, and at this level, the decline has already exceeded 30%, which is also a key defensive level for a technical bear market. If it breaks down effectively, then the bear market will be confirmed. Of course, some may feel that even if we judge that a bear market has formed now, it is already too late. This is indeed the case; we cannot determine a reversal while the market is rising, which is why I have always emphasized that when the market is in FOMO, you should reduce your position in batches, because the transition between bull and bear markets is not just a single point in time, but a period of time.
What is the current situation? There is obviously a downward trend, and for a trend reversal to occur, we must first find a bottom. The previous low of 1011 has already been broken, and we must now look for new support levels; currently, no bottom characteristics have appeared. Although I personally do not wish for the market to continue to decline, objectively speaking, before a bottom is confirmed, or at least before a potential bottom appears, it is likely that it will continue to decline. The 90,000 support for Bitcoin is quite difficult to maintain in this situation, but on the other hand, if it can be held, it would form a bottom for the decline. We can only continue to observe.
I don't want to make a judgment where the butt decides the head. Although I still have 50-60% of my position and I don't plan to significantly reduce my holdings, I must say that the market outlook is not optimistic. Recently, US