Bitcoin slides below $90,000 but analysts call the crash cyclical

Bitcoin extended its decline through November, with prices dropping under $90,000 briefly before bouncing back to around $92,000. The slide has pulled the entire crypto market lower, with about $1.2 trillion erased in six weeks.

Bitcoin has fallen nearly 30% from its all-time high of $126,000, touching a low of $87,000 during the recent selloff. Other major tokens have also weakened. Despite the drop, traders say the pattern is familiar. The market describes it as “pretty cyclical” and notes that similar crashes tend to occur every four to five years, which some investors consider potential entry points.

El Salvador is using the correction to add to its reserves. President Nayib Bukele said the country bought “$100 million in one day,” increasing its holdings by about 17%. El Salvador now holds around $688 million worth of Bitcoin, equal to 7,474 coins. The country was among the first to adopt Bitcoin as legal tender and continues to add to its crypto reserves. Bukele said they are “buying on these dips.”

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Institutional investors are also signalling optimism. Michael Saylor, who has been adding Bitcoin to his company’s treasury for years, reiterated his view that the price could reach “$200,000 by 2026” and potentially hit $1 million within four to eight years.



Brokerages and banks have also issued long-term targets. Standard Chartered expects Bitcoin to reach $300,000 by end-2026. Bernstein sees $200,000 in the early part of 2026, while JPMorgan has projected $170,000 for the same period. Fundstrat offered one of the most bullish estimates, calling $500,000 “possible” within five years.

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