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Bitcoin Drops to $86,200 as Whale Activity, Weak Macro Data Hit Market

Bitcoin Drops to $86,200 as Whale Activity, Weak Macro Data Hit Market

Crypto market takes another hit as traders weigh US uncertainty, whale activity, and key support levels.

Written by Rahul Dhingra, Edited by David Delima | Updated: 21 November 2025 13:24 IST

Bitcoin Drops to $86,200 as Whale Activity, Weak Macro Data Hit Market

Photo Credit: Unsplash/Jonathan Borba

Bitcoin trades near key support as uncertainty shapes market sentiment and liquidity tightens

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Highlights

Market participants turn cautious amid weak macro visibility
Altcoins see sharper declines as liquidity strains increase
Analysts watch $84,500 support to assess downside risk

Bitcoin's price hovered near $86,200 (roughly Rs. 76.5 lakh) on Friday after a sharp decline triggered by rising macroeconomic uncertainty in the US and a major Bitcoin whale selling spree that unsettled sentiment. Traders grew cautious after September unemployment data came in higher than expected at 4.4 percent, while the absence of October data created an information gap before the US Federal Reserve's next policy decision. According to analysts, defending support at $84,500 (roughly Rs. 74.9 lakh) will be crucial in preventing a deeper slide. Ethereum (ETH) traded around $2,800 (roughly Rs. 2.50 lakh). According to the Gadgets 360 price tracker, Bitcoin is priced around Rs. 76.5 lakh in India, while Ethereum trades near Rs. 2.50 lakh.

Altcoins Slide as Traders Monitor Liquidity Stress and Key Support Zones

On Friday, altcoins mirrored broader market weakness as Solana (SOL) dropped 7.8 percent to $132 (roughly Rs. 11,750), XRP fell 7.2 percent to $1.98 (roughly Rs. 175), Binance Coin (BNB) slipped 5 percent to $863 (roughly Rs. 76,530), while Dogecoin (DOGE) declined 6.6 percent to $0.14 (roughly Rs. 13.06).

Mudrex CEO Edul Patel says rising macro uncertainty and whale activity continue to weigh on market sentiment. “The crypto market is consolidating with Bitcoin trading near $86,500 (roughly Rs. 76.6 lakh) as macroeconomic uncertainty increases in the US [...] Buyers now need to defend the $84,500 (roughly Rs. 74.9 lakh) support to prevent a deeper move toward $80,000 (roughly Rs. 70.8 lakh), while $91,000 (roughly Rs. 80.6 lakh) remains the key resistance.”

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Bitcoin's pullback reflects growing macro concerns in the US, according to CoinSwitch Co-Founder Ashish Singhal. “Investors are advised to exercise caution and avoid making aggressive, emotion-driven decisions. A measured approach, focused on risk management and long-term strategy, remains critical as markets react to ongoing economic signals. The key psychological level to watch is $80,000 (roughly Rs. 70.8 lakh). Historically, strong support zones tend to attract buying interest.”

Meanwhile, Pi42 CEO Avinash Shekhar says the recent whale liquidation highlights a shift in short-term sentiment. “Large-scale liquidations do not decide the long-term trajectory on their own, but they do raise a yellow flag. A holder with more than a decade of accumulation choosing to exit now increases market pressure and draws attention to potential liquidity stress.
[...] Our view is that Bitcoin's structural value proposition remains intact.”

Market sentiment remains fragile, but not broken. Analysts say Bitcoin must hold the $84,500–$88,000 (roughly Rs. 74.9 lakh–Rs. 78 lakh) band to avoid extending losses, while any meaningful rebound will depend on whether selling pressure from whales eases, macro visibility improves and longer-term accumulation resumes heading into December.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

Cryptocurrency Prices across Indian exchanges

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Further reading: Cryptocurrency, Bitcoin, Ethereum, Crypto in India

Rahul Dhingra

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Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More