A short-lived rebound in cryptocurrencies evaporated on Wednesday, with Bitcoin tumbling 4% back below $90,000 even as US stocks advanced.

Bitcoin slipped to about $89,398, down 4.2% on the day and 12.2% over the week, with the broader market firmly in risk-off mode as total crypto market value dropped nearly 5% today.

Ethereum traded near $2,912, falling 7.2% on the day and 15.3% over the week. It continued to lag bitcoin as liquidity thinned amid macro-driven uncertainty.

Solana hovered around $131.97, lower by 5.8% on the day and 14.0% over the week.

XRP was at roughly $2.05, down 7.2% on the day and 12.4% weekly, mirroring the broader slump across major tokens as sentiment deteriorated.

Crypto-exposed equities tracked the downturn.

MicroStrategy dropped more than 8% to a one-year low, while Circle, BitMine, Bitfarms and Hive Digital saw similar declines.

The Nasdaq, though off its intraday highs, remained up 0.2%.

The latest pullback underscores persistent risk aversion. The Crypto Fear and Greed Index remained stuck in “Extreme Fear,” reflecting the market’s struggle to stabilise after Bitcoin set a record near $126,000 in early October.

“Bitcoin has no future”: BTC price continues to fall

Bitcoin has fallen nearly 30% from its peak, breaking through key levels and unsettling ETF investors and long-term holders alike.

Traders betting on a rebound now face mounting losses as the world’s largest cryptocurrency hovers near $89,500.

Longtime Bitcoin critic Peter Schiff reiterated his view that the cryptocurrency is structurally flawed.

Peter Schiff

@PeterSchiff

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Bitcoin has no future. It’s not a good medium of exchange for payments. To the extent you want to use crypto, even @CathieDWood admits stablecoins are better. If you also want a store of value, tokenized gold wins hands down. The race to get out of Bitcoin is on. Don’t be last.

9:54 pm · 19 Nov 2025

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