BTC (Bitcoin) rose 0.39% in the last 24 hours.

Gate News Bot news, on November 19, according to CoinMarketCap data, as of the time of writing, BTC (Bitcoin) is currently priced at $92,300, with a rise of 0.39% in the last 24 hours, reaching a high of $105,300 and a low of $89,300, with a 24-hour volume of $100.765 billion. The current market capitalization is approximately $1.84 trillion, an increase of $7.092 billion compared to yesterday.

Bitcoin is an innovative payment network and a new form of currency. Bitcoin operates on a peer-to-peer technology, without the need for a central authority or bank to manage it; transaction management and Bitcoin issuance are conducted collectively through the network. Bitcoin is open-source; its design is public, and no one owns or controls Bitcoin, allowing anyone to participate. Through its many unique features, Bitcoin enables exciting uses that were not possible with any previous payment system.

Important news about BTC recently:

1️⃣ Significant outflow of Bitcoin ETF funds On November 18, ten Bitcoin ETFs experienced a total net outflow of 2,473 BTC (approximately 230 million USD). Among them, BlackRock's Bitcoin ETF saw an outflow of 1,589 BTC (approximately 148 million USD). This indicates that institutional investors are taking profits or adjusting their positions, which may put pressure on short-term prices.

2️⃣ Miner income drops to a five-year low The hash price of Bitcoin (the income earned per unit of hash power) has fallen to its lowest level in five years, currently at $38.2 PH/s. This metric reflects a decline in miner income, which may lead some miners to reduce or suspend operations, thereby impacting network security.

3️⃣ Changes in Institutional Investor Behavior Long-term holders have not yet actively engaged in “buying the dip”, indicating a change in investment cycle behavior. The increase in institutional funds, structured products, and regulated investment tools is influencing the timing and manner of market demand. This change could lead to adjustments in the volatility pattern of Bitcoin prices.

From a technical perspective, the price of Bitcoin has recently broken through the important psychological level of 90,000 USD, and there is currently some support around 87,000 USD. Multiple analytical institutions have indicated that the “fair value” of 87,000 USD, the “average holding cost of the US ETF” at 79,000 USD, and the “lower limit of the short-term volatility range” at 74,000 USD are key price levels that need close attention in the coming weeks.

This message is not intended as investment advice; investors should be aware of market volatility risks.