A Volatile Week in Review

A Weekly Market Roundup: Bitcoin’s Volatility Returns, and The Codger's Eyebrows Are Perked

If you blinked this week, you probably missed a fresh round of whiplash in the Bitcoinmarket—never a dull moment, unless you consider watching a rollercoaster with its brakes removed “dull.” While I’m not one to chase hype or wring my hands over corrections, I’ll admit even my battle-worn eyebrows perked up as market action set a new pace.

Bitcoin Stumbles: New Lows, Old Stories

Bitcoin has dropped to its lowest level since April, tumbling below $86,000 in the Thursday session. Fast-moving traders and institutional managers seemed to join in a coordinated “let's see who can exit fastest” dance, amplifying pressure that’s been building all month. If you’re counting, that’s a double-digit percentage drop—in just a handful of trading days.​

Behind the scenes, it’s a familiar story for veteran crypto-watchers. The usual suspects showed up:

• Heavy Selling:Weeks of coins moving from long-dormant wallets flooded exchanges. In plain English, older holders decided now was a good time to lighten up, putting extra weight on an already slippery market.​

• Macro Clouds:Strong U.S. jobs data cast doubt on a near-term Fed rate cut, making investors rethink whether riskier assets like Bitcoin deserve their capital right now.​

• Leverage Liquidations:The latest round of price drops owes much to “cascading liquidations”—highly leveraged traders getting swept out, leaving order books thinner and markets ripe for rapid swings.

Defensive Moves and Shifting Sentiment

This week, the market’s posture shifted from aggressive accumulation to cautious defense. Derivatives traders—the sophisticated types who like to hedge everything—began stacking up downside protection (puts) at a pace not seen since the spring. That’s the financial equivalent of grabbing an umbrella when you see just a few clouds—except these clouds came with thunder.

Liquidity? Don’t even get me started. Managers are now more interested inkeepinggains than adding risk, turning what was once a two-way market into a single-file exit. It’s a sight that only happens when panic and discipline meet in the same conference room, and the result isn’t pretty.

Numbers That Matter

Here’s the quick rundown, so you can arm yourself for your next dinner debate:

• Bitcoin Price (Nov 20, 2025):$86,690.11, down 7% for the week

• Monthly Change:Down more than 20%

• Altcoin Impact:Top coins like ether and XRP joined the slide, trading well below recent highs​

• ETF Outflows:Institutional products saw net withdrawals, especially in funds tracking Bitcoin , BlackRock’sIBIT ETF lost investor dollars as volatility reawakened​

Under the Hood: Trends and Tidbits

• Dormant Whales Awakened:Blockchain data flagged thousands of “sleepers”—coins unmoved for years—suddenly hitting exchanges. Whether profit-taking or fear, the effect is a heavy supply flood that’s tough for the market to soak up in a hurry.​

• Options Skew:At the start of November, call options betting on new highs (for dreams of $140,000) were all the rage. By week’s end, puts protecting the $85,000 level had the highest open interest—a sure sign that traders aren’t ruling out further pain.​

• Macro Anxiety:As much as Bitcoin likes to think it’s immune from “real world” economics, the mood in equities and fixed income spilled over. Traders worried about central bank uncertainty, stronger jobs news, and AI-driven earnings in the stock market—all of which made risk allocation a little less fun for crypto.​

The Codger’s Corner (Yes, I Have Wisdom to Dispense)

Let me be blunt: volatility is not a bug, it’s a feature. If you’re in the crypto markets, take it as gospel that even a so-called seasoned move is liable to knock your teeth loose if you’re not prepared.

Here are a few rules—call them “Codger’s Weekly Reminders”:

• Corrections are Normal.Bitcoin has done this before and will do it again. If you’re trading in size, expect to eat a little humble pie from time to time.

• Panic Never Pays Off.Order books dry up in a hurry when fear runs hot. Stay disciplined and remember your strategy.

• Macro Drives Micro.Keep an eye on the Fed, U.S. jobs data, and whatever headlines look poised to spook markets. Fundamentals matter, even if crypto tries to deny it.

• Every Exit Is an Entry for Someone Else.Those coins dumped by anxious whales? Somebody’s scooping up bargains. Odds are, next week’s “winner” will be the one who kept cool while everyone else was selling.

What’s Next?

No one can predict if next week’s market will be calmer or if Bitcoin will throw another tantrum. Institutional rebalancing and macro headlines will surely play their part. But the lesson is clear: find your discipline, review your risk, and never let market noise drown out your long-term thinking.

If the action keeps up, maybe even my curmudgeonly heart will get a thrill watching the drama unfold—but rest assured, I’ll still be here every week with more analysis, a dash of humor, and just enough sarcasm to keep things honest.

Stay skeptical, stay informed,
The Crypto Codger