Bitcoin plunged to $80,600 before rebounding on Nov. 21 as Federal Reserve officials hinted at possible rate cuts, with traders eyeing $80,500 as a short-term market bottom.
Bitcoin dropped from $96,000 to $80,600 on Nov. 21 before recovering to $86,000 after comments from several Federal Reserve officials suggested potential interest rate cuts. Analysts highlighted $80,500 as a critical bear market low, noting high trading volume and turnover as indicators of a short-term bottom. The move follows earlier price pressure after Fed meeting minutes signaled balanced economic risks and no fixed timeline for rate reductions.