- Bitcoin trades near $92,000 amid mixed signals from ETFs and the tech sector
- Hoskinson and Saylor predict a strong rebound for BTC despite recent losses
- However, ETF outflows and macro risks could push BTC toward the $85,000 support level
As Bitcoin recovers from a low of $88,540 on November 19, the question is whether the price can reclaim and exceed the recent high of $93,403 recorded on November 18.
Some analysts warn BTC is poised for a deeper pullback, while others argue a powerful rebound is building beneath the surface.
At the time of writing, BTC is trading around $92,237 and already showing signs of fatigue — a potential warning sign if prices form a lower low compared with November 19, which would be bearish.
Bullish case grows despite recent drawdown
At $92,237, Bitcoin is recovering from a prolonged sell-off that erased more than $33,000 of value in under two months.
Today’s bounce followed a pause in ETF outflows and a recovery in technology stocks, supported by Nvidia’s stronger-than-expected results.
Even as the market remains range-bound amid macro uncertainty and shifting liquidity that continue to pressure risk assets, Cardano founder Charles Hoskinson remains one of the loudest advocates for a major recovery.
During a CNBC Squawk Box appearance on Tuesday, Hoskinson argued that Bitcoin’s recent losses reflect broader macro distortions, including tax tensions, recession risk, and inconsistent regulatory signals.
He believes these pressures will ease in the coming months.
Hoskinson expects BTC to rebound sharply and has projected it could reach $250,000 within the next year, forecasting that institutional adoption and large-scale token conversions will shape a new market cycle.
MicroStrategy CEO Michael Saylor expresses similar confidence, viewing the present recession risk as part of Bitcoin’s long-term behavior.
In a recent Fox Business interview, the executive said his company was built to withstand deep losses, calling its position “indestructible.”
₿etter than Ever. Today I was the warm-up act for @natbrunell as we both talked Bitcoin with @cvpayne. You’ll want to hear what she had to say. pic.twitter.com/vDaFceyeza
— Michael Saylor (@saylor) November 18, 2025
Notably, Saylor continues to buy BTC even as volatility rises, reinforcing his view that deep corrections are part of a broader path toward higher valuations.
ETF activity has also become a key factor.
BlackRock’s Bitcoin ETF suffered a record outflow of $523 million on November 18 following persistent withdrawals across spot Bitcoin ETFs.
ETF outflows appear to have stabilized somewhat, with IBIT recording $60 million in inflows on November 19.
Analysts warn that sustained inflows will be crucial if Bitcoin hopes to avoid retesting this week’s lows.
Downside risks remain
Not all indicators point upward. Some traders see a real chance BTC could break below the key support near $90,000.
If the market fails to hold that level, forecasting platform Coinlore indicates growing expectations for a decline toward $87,000.
ETF outflows totaling more than $3 billion this month underscore lingering caution, and many retail participants remain hesitant after weeks of withdrawals.
Macro conditions are also complex.
Expectations for U.S. central bank rate cuts have faded while recession fears have resurfaced amid weak employment data and ongoing trade frictions.
Those pressures limit upside momentum even though Nvidia’s tech rally briefly boosted risk appetite.
Despite the uncertainty, Bitcoin continues to trade like a high-beta asset closely tied to broad market sentiment. The coming days may determine whether buyers regain control or sellers test new lows.