📉 Bitcoin: One Year Later, What Changed in the Market?

On November 15, 2025, Bitcoin closed around $95,549. But the market was already correcting after losing nearly 24% from its early-October peak. Today, BTC is trading near $67K, almost 30% lower year over year.

So why is the pressure stronger now?

The biggest factors are changing macroeconomic expectations, hotter US inflation, rising rate-hike concerns, nearly $1.88B in recent US spot ETF outflows, and massive leveraged liquidations.

What concerns me most is that this is not just a price correction.

Institutional demand and market liquidity are also showing weakness.

My view: Bitcoin remains under bearish pressure until buyers reclaim important resistance zones and demonstrate sustained demand. A temporary bounce alone would not confirm a trend reversal.

The key question is no longer how quickly BTC can recover, but whether genuine buying demand can return.
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