Bitcoin Plunges to $91,000 — Is a Recovery on the Horizon?

Jakarta, Pintu News – Bitcoin (BTC) briefly traded around $95,000 earlier this week (17/11) after a gradual decline that erased earlier gains and pushed the largest cryptocurrency close to psychologically important levels.

The market is now waiting for decisive action from investors, which will determine whether BTC will rally again or continue its downward trend in the next few days.

Then, how will the Bitcoin price move today?

Bitcoin Price Drops 3.29% in 24 Hours

On November 18, 2025, the price of Bitcoin was recorded at $91,313 or the equivalent of Rp1,536,064,595, a decrease of 3.29% in the last 24 hours. During this period, BTC touched its lowest level at IDR 1,529,556,615 and its highest price at IDR 1,612,137,968.

As of writing, Bitcoin’s market capitalization stands at around IDR 30,436 trillion, with trading volume in the last 24 hours rising 33% to IDR 1,665 trillion.

Read also: Extreme Crypto Fear: Market Sentiment Turns Negative, What’s Happening?

Bitcoin Experiences Bearish Divergence

Bitcoin dominance has been declining over the past few weeks, creating a clear bearish divergence with the Stochastic RSI indicator. Currently, Bitcoin dominance stands at 59.37%, down from 65.71% in June.

At the same time, the Stoch RSI showed a bearish crossover signal when the D line moved above the K line, indicating a shift in market strength.

This divergence, coupled with the RSI having previously entered the overbought territory, suggests weakening bullish momentum. Historically, such conditions often precede significant price reversals or corrections.

With dominance continuing to weaken and momentum slowing down, traders now face greater uncertainty regarding Bitcoin’s ability to maintain current support levels.

Additionally, Bitcoin’s MVRV Z-Score has dropped to a 14-month low, indicating that the asset is undervalued compared to historical averages. This metric is used to assess whether Bitcoin is trading above or below its fair value.

Currently, the indicator shows that BTC is in a strong undervalued zone, which historically has often been a sign of a major accumulation phase.

When the MVRV Z-Score reaches a low point like this, long-term investors usually start accumulating. This behavioral pattern supports a potential price recovery as new demand enters the market.

If accumulation increases at current levels, Bitcoin has a chance to regain momentum to stabilize the price and reverse the latest downward trend.

Read also: Death Cross Confirmed: Will Bitcoin Hit Bottom or Fall Deeper?

Can Bitcoin Price Turn Up?

Bitcoin was trading at $95,040 on November 17, hovering around a crucial psychological level. The price drop became sharper after BTC broke out of a head and shoulders pattern last week – a technical signal that reinforced bearish expectations in the market.

This head and shoulders pattern indicates a potential drop of 13.6%, with a price target around $89,407. If bearish sentiment continues to dominate, Bitcoin is at risk of dropping to the $90,000 range and continuing until it reaches this target. Factors such as Bitcoin’s declining dominance and the emergence of bearish crossover signals further strengthen this downside scenario.

However, if investors start to step in and accumulate at price levels that are considered undervalued, Bitcoin could potentially bounce back towards $100,000. A successful recovery could invalidate the bearish scenario and trigger a trend reversal, with prices possibly moving closer to $105,000. This movement would also invalidate the validity of the head and shoulders pattern.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• BeInCrypto. Bitcoin Slides Toward $95,000, Long-Term Metrics Say ‘Undervalued’ Accessed on November 18, 2025