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Bitcoin may still be heading for a deeper correction, according to new analysis from CryptoQuant.
The firm reports that its key on-chain “composite index” has fallen into the pessimism zone, dropping to 0.72 — the lowest reading since April 2025.
Analysts say this signals that the market is currently dominated by a corrective phase with the potential to push BTC down to $87,500.
Composite Index at Multi-Month Lows
CryptoQuant notes that, as of mid-November 2025, the index’s decline reflects weakening sentiment and increased downside pressure.
With liquidity drying up and no clear indication from the Federal Reserve regarding future rate cuts, the market remains turbulent and highly sensitive to macroeconomic signals.
Three Potential Market Scenarios Identified
According to the firm, Bitcoin’s next move will depend on momentum conditions described by their model:
- Correction (momentum < 0.75):
BTC could retrace to the support region near $87,500, established in March. - Consolidation (0.8–1.0):
Price may stabilize within the $90,000–$110,000 range as market uncertainty persists. - Momentum recovery (>1):
A shift toward bullish structure could drive Bitcoin toward $150,000–$175,000.
Market Still Under Pressure
“Bitcoin trading around $92,622 reflects persistent selling pressure, driven by weak liquidity and broader macroeconomic concerns. The market remains fragile, but a clearer reversal signal could unlock new opportunities,” CryptoQuant concluded.
Earlier, the platform reported that new Bitcoin holders had recently sold over 148,000 BTC at a loss, contributing to the current market softness.
