Bitcoin Corrects to $97,000; Is the Bottom In?

In Brief

• Bitcoin has fallen to $97,000, and analysts warn of a potential bottom near $92,000.
• After a sharp drop from its recent all-time high, the asset continues to struggle below a key resistance.
• Bitcoin’s near-term outlook hinges on reclaiming its 50-week EMA, which looks difficult at the moment.

Shedrach Kongvong 2025-11-17

Bitcoin corrected to $97,000 today, reaching its lowest price in six months. Altcoins have also crashed alongside the number one digital asset, leaving crypto fans wondering what happens next. If you’re wondering if the bottom is in yet, maybe not.

A crypto analyst weighed in on the correction earlier, suggesting that the asset is likely to go as low as $92,000 before reaching the bottom.

At the time of this report, the coin has already dropped to $96,000 with a potential further drop to lower prices.

$BTC / $USD – Update

I expect some relief here at $97,000, but overall looking for lower around $92,000 to bottom out on. pic.twitter.com/yDFdVCTlAg

— Crypto Tony (@CryptoTony__) November 14, 2025

Bitcoin’s Discouraging Performance

Bitcoin has no doubt performed well this year, but the recent performance has been all but discouraging. After reaching a new all-time high of $126,000, the price crashed following Trump’s tariff announcement and things have not been the same.

The asset managed to hold above $110,000 for a while before bears overpowered the bulls, crashing the price below this level on 16 October.

Since then, Bitcoin has failed to recover the crucial $112,000 price which analysts say is required for the next upward move to a new all-time high.

If the $92,000 bottom scenario plays out, it means the asset still has a long way to go and the much-awaited bounce is still far.

Bitcoin Faces Next Big Challenge

With the price dropping below $97,000, Bitcoin faces another major challenge if it will succeed in bouncing back and rising to new highs.

The coin closed the previous weeks very nicely above the 50-week exponential moving average (EMA) and an analyst says it has to close the week above it again for any meaningful recovery.

#BTC

Bitcoin is deviating below the 50-week EMA (purple) as we speak

Last week, BTC protected this EMA as support by Weekly Closing above it, despite initial downside wicking

Bitcoin needs to Weekly Close above the EMA again to protect the EMA as support and to keep alive the… https://t.co/lx9AC5O8zp pic.twitter.com/3uBa7lOMk1

— Rekt Capital (@rektcapital) November 14, 2025

As the coin is still trading below the 50-week EMA and the week is already coming to an end, the chances of this happening is slim as bears seem to be maintaining control.