After a day and a half of calmness and apparent price stability, bitcoin has slipped once again on Sunday afternoon despite some bullish news coming on the US-China trade deal front.
What’s more worrisome in this situation is the behavior of BTC investors who have deposited roughly $1 billion worth of the asset to crypto exchanges in the past three days alone.
More than 10,000 Bitcoin $BTC, almost $1 billion, have hit crypto exchanges in the past 72 hours! pic.twitter.com/3kwwzLMKH0
— Ali (@ali_charts) November 16, 2025
Such large transfers are generally followed by sell-offs, since most investors tend to keep their BTC stored away from exchanges unless they want to immediately dispose of it. Consequently, it’s safe to assume that the immediate selling pressure has only intensified and could be among the reasons behind the market-wide crash.
This is evident in bitcoin’s price as the asset has nosedived once again in the past few hours. It traded close to $97,000 earlier today, but has dropped to $94,000 as of press time. This is the second time it has tested this crucial support since Friday.
Overall, the cryptocurrency has plunged by $13,000 since Tuesday morning when it briefly peaked above $107,000. Momentum and sentiment remain bearish, with the Fear and Greed Index plummeting to a 9-month low, as reported yesterday.
Some positive developments on the macro front came from US Treasury Secretary Scott Bessent, but even that couldn’t halt BTC’s immediate dive. Bessent asserted in a recent interview that Washington and Beijing could strike a trade deal before Thanksgiving (November 27) after noting he is confident China will honor the agreement.
BESSENT TARGETS THANKSGIVING FOR CHINA TRADE DEAL
U.S. Treasury Secretary Scott Bessent said the Trump administration aims to complete its trade agreement with China by Thanksgiving (November 27). Speaking to Fox News, he dismissed a Wall Street Journal report as inaccurate,…
— *Walter Bloomberg (@DeItaone) November 16, 2025
The post Bitcoin Tumbles to $94K Again: $1B in BTC Hit Exchanges While US-China Trade Deal Nears appeared first on CryptoPotato.
