Billionaire warns 'last time to buy' as Bitcoin crashes

November keeps getting worse for Bitcoin and friends. On Nov. 18, Bitcoin (BTC) dropped below $90,000 after a death cross formation, and was trading at $89,426 before climbing back up. This was the lowest level it had dipped to since April.

A death cross refers to a market chart pattern that appears when a stock’s short-term moving average, usually the 50-day, drops below its long-term moving average, usually the 200-day. It often precedes prolonged downside moves.

Bitcoin's drop also erased all the 2025 gains with a 28% decline from the October peak of $126,000.

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At the time of reporting, Bitcoin was down by 4.2% in the past 24 hours, trading at $91,319.15.

Crypto market liquidation crossed the billion-dollar mark. As per Coinglass data, the total liquidations come in at $1.03 billion, with Bitcoin contributing $569.37 million.

The fear and greed index was at 11, indicating extreme fear.

Billionaire Cameron Winklevoss took to X to remind that it was the "last time you'll ever be able to buy Bitcoin below $90k!'

The drop is causing alarm among traders as some speculate the drop is not over yet.

The anticipation surrounding the next rate cut in December is increasing Bitcoin's volatility. The Federal Reserve remains split between those who are looking to ease monetary policy to reduce further slowdown in the labor market, while others are concerned that inflation continues to loom large, and a rate cut could further reignite it.

However, The Kobeissi Letter by Adam Kobeissi takes a more hopeful stance towards the drop, calling it a "routine" crypto bear market.

"Every single decline of the current magnitude or more since Bitcoin's inception has been followed by new record highs. Disruption is not easy, but it pays when you can sound out the noise."

Related: A mining CEO explains why 'big money people' are looking at bitcoin in a different light

This story was originally reported by TheStreet on Nov 18, 2025, where it first appeared in the Trading News & Analysis section. Add TheStreet as a Preferred Source by clicking here.