Bitcoin Price Prediction Today (Nov 20): What’s Driving BTC Above $92K?

Bitcoin’s (BTC) price rose 2.03% to $92,328 in 24 hours, while the overall crypto market fell 0.58% during the same time. This contrasts with its weekly and monthly declines, and coincided with the broader crypto market’s 1.37% gains, slightly outperforming the sector.

The apex crypto’s mixed performance can be linked to a recent downtrend, with a surge in mining stocks, uncertainty surrounding record ETF outflows, and leverage unwinding driving the price.

Bitcoin (BTC) Price News

BTC price retested $89,000 after failing to reclaim $93,500 level. However, this triggered a $144 million liquidation event. Bitcoin derivatives remained relatively stable, with 30-day futures premiums holding at 4%, while funding rates mirrored two-week averages, and options skew showed no panic.

This also contrasts with $2.26 billion in spot Bitcoin ETF outflows over the last 5 days.

The market conditions project “neutral” as futures resilience suggests underlying confidence, but ETF outflows reveal institutional caution as investors rebalance their portfolios amid macro uncertainties. 

Bitcoin rebounded from $89,000 to $91,000 post-NVIDIA revenue announcement, which beat Wall Street’s expectations and pumped miners’ stocks.

Why is Bitcoin Up Today?

1. Nvidia Earnings Push Mining Stocks Higher (Bullish)

Chip manufacturing giant Nvidia’s Q3 2025 earnings beat expectations to hit $57 billion. This ignited a rally for Bitcoin mining stocks, with Cipher Mining and IREN leading gains at 13% and 10% respectively. Miners are increasingly pivoting to AI infrastructure, with IREN announcing a $9.7 billion deal with Microsoft Cloud and Cipher’s $5.5 billion partnership with Amazon.

This development is bullish for BTC as it validates miners’ diversification into high-value tech verticals like AI, potentially reducing sell pressure. However, rising debt for mining firms, like IREN’s GPU financing, and Bitcoin’s price sensitivity could strain profitability if the AI hype stabilizes.

2. Whale Accumulation and ETF Inflows (Bullish)

Bitcoin whale transactions surged to a yearly high. As per Glassnode data, the number of wallets holding over 1,000 BTC has increased since late October. Large holders transitioned from distribution to accumulation once the price closed in on $90,000, creating organic buy pressure. Analysts are signaling this as “smart money” buying BTC at a discount from panic sellers, especially the short-term holder cohort.

U.S. spot Bitcoin ETFs recorded $75.4 million in net inflows on November 19, with BlackRock’s IBIT accounting for $60.4 million of that total. This has reversed a bearish outflow trend from the previous week. Institutional capital returning after weeks of withdrawals has eased sell pressure. ETF flows remain sentiment-critical, with November witnessing +$1 billion in outflows.

3. Fed Policy Uncertainty (Mixed)

Bitcoin’s price recovery stalled as the U.S. jobs report release was delayed until November 20, while the odds of a rate cut by the Federal Reserve fell to 32%. Analysts are warning of a potential pullback to $80,000 if market liquidity remains tight. However, on-chain data shows that the $427 million loss suffered by short-term holders (STHs) signals a local bottom.

While this is bearish in the short term due to macroeconomic headwinds, it could turn bullish if positive jobs data sparks Fed dovishness.

4. Macro headwinds and ETF Outflows (Bearish)

BlackRock’s IBIT spot Bitcoin ETF experienced its largest daily outflow to date, at $523.15 million, on Tuesday, signaling institutional risk aversion. U.S. spot Bitcoin ETFs collectively shed $1.3 billion in assets over the past week as traditional markets continue to grapple with delayed Fed rate-cut expectations. Reduced institutional market participation weakened support.

5. Leverage Unwind and Liquidation Cascade (Bearish)

Bitcoin long liquidations hit $127 million in 24 hours, while total derivatives open interest spiked 10.4% to $889 million. This indicates that leveraged positions betting on the BTC price to rise were being forcibly closed. The Bitcoin Fear & Greed Index hit “extreme fear” levels at 15, the lowest score since March 2025.

High leverage increased losses as BTC broke below $90,000, with the 14-RSI at 37.95 showing “oversold” conditions, with no bullish reversal signals in sight. A sustained dip in funding rates below 0.004% could signal market capitulation.

Bitcoin (BTC) Price Technical Indicators

BTC rebounded from its $88,570 support zone, with 7-RSI hitting “oversold” levels at 23.5. The price recovery aligns with historical trend reversals for Bitcoin when RSI dips below 30. Oversold conditions and the $88,500 to $90,000 demand zone have triggered algorithmic buying and short-covering.

It is key for BTC to close above $90,000 and reclaim the $93,500 resistance for sustained momentum in November. This will be reflected through ETF inflows. 

Bitcoin (BTC) Price Prediction

Based on today’s technical indicators, we have predicted the minimum, average, and maximum rates at which Bitcoin (BTC) could change hands today and for the remainder of the year. Bear in mind that these numbers are subject to market volatility and macroeconomic factors.

BTC Price Today (Nov 20)

BTC Price 2025

Final Thoughts on Bitcoin’s Price Today

Today’s surge in Bitcoin’s price reverses a week-long downtrend, which saw the apex crypto fall under the $90,000 mark for the first time since March 2025. The decline was largely driven by macro uncertainty, especially surrounding the U.S. government shutdown and lowered expectations of a Fed rate cut, which tightened liquidity, forcing traders to close leveraged long positions and institutional investors to exit from Bitcoin ETFs as a portfolio rebalancing measure.

However, BTC managed to reclaim the $90,000 level on Wednesday, outperforming the overall crypto market in the process. Nvidia’s Q3 revenue boosted mining stocks, and the return of ETF inflows, alongside increased whale accumulation at the $88,500 – $90,000 demand zone, have supported Bitcoin’s gains.

It is key for BTC to close above $90,000 and reclaim the $93,000 mark to sustain the bullish momentum.