Bitcoin’s price has seen a marked decline over the past six weeks, shedding more than 30% since reaching its all-time high in early October. Recently, it dipped below $81,000 for the first time since April but has since recovered approximately $5,000.

Analyst Ali Martinez predicts a potentially grimmer scenario, suggesting that if Bitcoin retraces to previous low points in the pricing bands, it could experience another drop as severe as 50%, reaching around $44,700, where the blue pricing band currently is.

Bitcoin $BTC has frequently bottomed beneath the green and blue pricing bands over the past seven years, currently sitting at $55,900 and $44,700, respectively. Source — Ali Martinez November 22, 2025

Investor sentiment might also be concerning, as significant sell-offs are occurring from larger holders, commonly referred to as whales.

High volumes are being reported in Bitcoin ETFs in the United States, with over $1.2 billion leaving such funds last week despite a temporary market bounce. BlackRock’s IBIT has been particularly noted for its volatility.

Martinez also highlighted that the number of BTC transferred to exchanges increased drastically to 20,000 units in the past week, valued at nearly $2 billion, suggesting many investors probably intend to sell.

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Additionally, Martinez warns about the drop in capital inflows into the broader crypto market, which have plummeted from $86 billion three months ago to just $10 billion presently, indicating that Bitcoin and the entire market may still face significant challenges.

Capital inflows into the crypto market have plummeted from $86 billion to $10 billion in merely three months. Source — Ali Martinez November 23, 2025