Europe Leads Bitcoin’s Sharpest Drop Since 2018 While ETH, ADA, SOL Remain Stable

Bitcoin Holds Near $90K as Europe Drives November Sell-Off, Markets Await Fed

Bitcoin (BTC) hovered around $90,400 on Tuesday as crypto markets steadied following one of November’s sharpest declines since 2018. Liquidity remained thin ahead of Wednesday’s Federal Reserve announcement, with the broader market maintaining its recent rebound.

Over the past 24 hours, BTC rose about 1%, while Ether (ETH) added 0.2%, according to CoinGecko. Major altcoins showed mixed performance: BNB gained nearly 1%, SOL slipped 0.6%, and XRP edged lower.

Regional Market Dynamics
Data from Presto Research revealed that Europe was the primary driver of November’s 20–25% drawdowns in BTC and ETH. European trading sessions posted deeply negative returns, while Asian and U.S. sessions were largely flat, reflecting divergent regional flows amid crypto de-leveraging.

Institutional Activity
November also saw notable institutional repositioning. Strategy reported its largest Bitcoin purchase in over three months, acquiring 10,624 BTC for $963 million. Funded mainly through new equity issuance, total holdings now stand at approximately 660,600 BTC, valued around $60 billion. The company’s shares traded near $180, down roughly 50% over six months, as investors weigh potential MSCI index removals.

Macro Pressures and Sentiment
Global macro trends continue to influence crypto. Asian equities fell as traders awaited Fed guidance on rate cuts and easing into 2026. Bond yields stayed elevated, adding pressure to high-beta assets. Crypto sentiment remains fragile: CryptoQuant’s Bull Score hit zero for the first time since January 2022, with most BTC on-chain indicators signaling bearish conditions.

Looking Forward
Medium-term catalysts, such as potential U.S. 401(k) rule changes in early 2026, could open trillions of retirement funds to Bitcoin exposure. Traders are watching whether BTC can push toward $94,000–$98,000 or if European trading continues to weigh on prices as year-end positioning tightens.