a comprehensive analysis of the coin market on November 22, 2025

today we'll be analyzing the latest trends in the crypto markets after a turbulent week. As of 9am on November 22nd, Bitcoin is showing signs of a rebound, regaining $85,000, but is this a true bottom confirmation?

current market conditions and buy recommendation scores

change in Buy Recommendation Score over time

hour buy Recommendation Score key Issues 08:42 -4.61 memecoin market crash fears, massive liquidations continue 07:39 -2.35 bitcoin plunges 30% in a month, BlackRock sells $900 million 06:46 -2.62 blackRock closes $134.1 million in leveraged positions 05:40 -2.62 ETF record outflows signal institutional bottom recent Average -3.05 conservative wait-and-see recommendation

the current market's buy recommendation score remains consistently in the negative zone. this suggests that a further correction is likely in the near term.

major coin price analysis (as of November 22, 09:00)

upbit's major coins

bitcoin (BTC)

  • current price: $128,671,000
  • change: +0.49
  • 24-Hour Trading Volume: $879.7 billion
  • market capitalization: $2,503 billion

ethereum (ETH)

  • current Price: $4,178,000
  • change: +0.36
  • 24-Hour Trading Volume: $144.5 billion
  • market capitalization: $492 trillion

top Altcoin Trends

  • solana (SOL): $194,100 (+0.36%)
  • ripple (XRP): $2,933 (-0.03%)
  • dogecoin (DOGE): kRW 212 (+0.95%)

kimchi Premium Analysis

currently, the kimchi premium in the South Korean market is averaging 2.4%. this indicates that the buying sentiment among local investors is still positive.

kimchi premium by major coins:

  • BTC: +2.49%
  • ETH: +2.43
  • ADA: +2.71
  • LINK: +2.37

technical Analysis: What the Charts Say About the Market

Relative Strength Index (RSI)

bitcoin's current RSI is nearing the oversold zone. after a 30% plunge in one month, a short-term bounce has been seen, suggesting a possible technical rebound. however, sideways movement below the RSI of 30 suggests that further downside remains.

Moving Average Convergence Divergence (MACD)

the occurrence of the "death cross" mentioned in the news recently confirms the bearish signal on the MACD indicator. the short-term moving average line broke below the long-term moving average line, signaling the entry of a technical bear market.

bollinger Bands

after breaking below the bottom of the Bollinger Bands, Bitcoin returns to the inside of the bands, suggesting that short-term volatility is calming down, and an attempt to regain the center line is observed.

moving Average Line Analysis

  • 20-day moving average: Failed support
  • 50-day moving average: acting as strong resistance
  • 200-day moving average line: testing the long-term trend line

on-chain analysis: what the blockchain really shows

the Whale Movement

as confirmed in recent news, we've seen an outright sell-off by early whale investors and a sell-off of dormant wallets, indicating a stronger appetite for profit-taking by long-term holders.

analyzing exchange outflows and inflows

we have seen $900 million worth of selling by institutions, including BlackRock, and record outflows from spot ETFs, which is adding to the selling pressure in the near term.

medium-term holder trends

intermediate-term holders (3 months to 1 year) are selling off, confirming the data that market sentiment is cooling.

analyzing investor sentiment indicators

crypto Fear & Greed Index (FGI)

currently, the Fear & Greed Index has fallen to the extreme fear (11) level. Historically, this level often indicates a bottom, but further declines cannot be ruled out in the near term.

funding Rate Analysis

futures market overheating

  • 24-Hour Liquidation Volume: $134.1 million
  • long positions dominate liquidation
  • funding rate turns negative: suggesting increased short positions

the massive liquidation of leveraged positions is cleaning up excessive leverage in the market. this could paradoxically be a sign of a return to a healthy market structure.

options market analysis

open Interest

  • options market disruption continues
  • Put/Call Ratio: Increasing defensive positions
  • volatility index (VIX) spikes

investors are increasing put options to hedge against downside risk, suggesting a cautious approach in the short term.

analyzing leveraged positions

trends in bullish and bearish positions

  • long liquidation: surpassed $1 billion
  • short positions are on the rise
  • liquidity tsunami occurs

fundamental Analysis: What Moves the Markets

fed Interest Rate Policy

recent news sent a positive signal to the market as the New York Fed President hinted at a possible rate cut in December. with the rate cut expectations returning to 71%, the crypto market also had a chance to rebound.

institutional investor trends

negatives:

  • blackRock sold $900 million
  • MSCI Index Strategy Exclusion Review
  • Large outflows from ETFs

positive factors:

  • observed bargain buying by some institutions
  • bottom signal from long-term investors
  • infrastructure expansion, including Coinbase's acquisition of Vector

regulatory environment

stablecoin regulation discussions are ongoing, and there is a need for a card company-led issuance of a fiat currency stablecoin. this is expected to contribute to market stability in the long run.

market Outlook and Investment Strategy

short-term outlook (1 week to 1 month)

the market is currently at a point where a conservativewait-and-see approach is appropriate. with the buy recommendation score remaining at -3, we should be prepared for a possible further correction.

key support levels:

  • bitcoin: $80,000 (psychological support)
  • ethereum: $2,700

key resistance levels:

  • bitcoin: $90,000
  • ethereum: $3,000

medium-term outlook (1-3 months)

a gradual recovery is expected with the expectation of interest rate cuts. however, AI bubble concerns and global economic uncertainty will be a factor.

long-term outlook (6+ months)

the Bitcoin halving cycle and supercycle theories are still valid. institutionalization is accelerating, so the long-term outlook remains positive.

things to keep in mind when investing

  1. split buying strategy: buy in multiple installments rather than investing a large amount at once
  2. set stop-losses: always set a stop-loss line during periods of high volatility
  3. avoid leverage: during periods of high volatility, such as the current one, spot trading is recommended
  4. diversify yourportfolio: don't go all-in on a single coin, diversify your investments

conclusion

the cryptocurrency market is currently in an extreme fear zone. after a 30% plunge in a month, we've seen a bounce back to $85,000, but uncertainty is still high.

technical indicators suggest oversold territory, but fundamentals suggest a cautious approach as institutional outflows and deleveraging continue.

that said, levels of 11 on the Fear and Greed Index have historically signaled near-bottoms, and a return of rate cut expectations could lead to a recovery in the medium to long term.

investment Recommendation: At this point, it is wise to wait for market stabilization and look for opportunities to split the trade, rather than go long. we recommend waiting for clear confirmation of $80,000 support before entering.

this analysis is for informational purposes only, not as an investment recommendation, and you are responsible for your own investment judgment and actions. investing in cryptocurrencies is a high-risk investment and requires careful consideration.