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This Week In Crypto
13 Nov 2025

Snap back to reality

Bitcoin loses $100k while the U.S. government resumes operations. The Czech central bank has made a small BTC purchase, and Grayscale is seeking an IPO. In trending topics, we cover MSTR’s discount to NAV and inefficiencies related to the DAT structure.
TWIC@2x
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Bitcoin sees first close below $100k since May
The poor momentum in BTC continues. On Thursday, BTC ended its 189-day streak of continuous daily closes above $100k. Bitcoin is currently trading at $97k, down 23.2% from its October 6 ATH. This marks BTC’s deepest drawdown from ATHs since February-April. Then, the drawdown peaked at -30%. Furthermore, BTC saw drawdowns of 26-27% during the Q3, 2024 sell-off. Thus, while losing the six-digit mark, BTC has yet to face as steep of a drawdown as the two most material drawdowns since BTC reached new ATHs in March 2024.
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