Name: Bitcoin hits 7-month low
Uploaded: 2025-11-21T19:43:20.764Z
Duration: 1 min 29 s
Description: CNBC’s MacKenzie Sigalos reports on the latest crypto sell-off, with $2 billion in liquidations, surging ETF outflows, and whales losing conviction — all as crypto-linked equities like Strategy tumble and fear returns to 2022 meltdown levels.

CNBC’s MacKenzie Sigalos reports on the latest crypto sell-off, with $2 billion in liquidations, surging ETF outflows, and whales losing conviction — all as crypto-linked equities like Strategy tumble and fear returns to 2022 meltdown levels.

Bitcoin briefly tested the $80,000 support level, reaching a seven-month low before rebounding. Over the past 24 hours, $2 billion in liquidations occurred, and U.S.-spot Bitcoin ETFs experienced their second largest outflows on record, reflecting declining institutional interest.

Market indicators such as Coinglass's fear and greed index have reached their lowest point since 2022. Large holders are reducing positions, and dormant coins are moving, signaling waning confidence among major investors. Broader macroeconomic concerns and a shift toward defensive assets have also contributed to the pressure on digital asset stocks.

Bitcoin hits 7-month low

Mackenzie Sagalos is following Bitcoin and the move lower. What's happening here? Hey, Contessa. So Bitcoin briefly tested that critical $80,000 support level this morning, dropping to a seven-month low before bouncing back, a sign of just how fragile this market has become. $2 billion in liquidations in the last 24 hours, and institutions aren't showing signs of buying the dip. Thursday saw the second largest outflows ever from U.S.-spot Bitcoin ETFs and Coinglass's fear and greed index just hit its lowest level since the 2022 meltdown. Now, crypto winners in the past have come during year two of that Bitcoin halving cycle, where we are now, roughly, and have been associated with drawdowns of 80% or more. At this point, we're only down around 30% from last month's all-time high for Bitcoin, but the worry here is fading momentum. Citi flagged in a note this morning that large wallets are reducing positions and dormant coins are starting to move, a sign of whales losing conviction in the trade. There's also the broader macro backdrop, growing doubt that we'll get a Fed rate cut in December and a rising correlation between crypto and the AI names. Both are getting hit as investors rotate out of speculative trades and into defensives like gold. The digital asset treasury stocks are really taking the brunt of it, especially strategy, the biggest corporate holder of Bitcoin and the most liquid proxy for the asset. It has become a pressure valve for hedge funds shorting the space, now down more than 43% in a month, Contessa.

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