Winklevoss Calls for Strategic Buying Amidst Bitcoin's Freefall

Gemini co-founder Cameron Winklevoss told investors that Bitcoin’s dip below $90,000 could present a rare buying opportunity. After peaking above $126,000 on October 6, BTC has plunged to its lowest yet of $90,000s, erasing roughly $600 billion in market value and returning to levels last seen seven months ago. Winklevoss’ comment positions this downturn as a strategic entry point for long-term investors.

Weirdly enough, Bitcoin's freefall this time was not triggered by any single headline event, with many investors falling back on the four-year halving playbook. However, experts have said that Bitcoin's fall could be a result of macro-market factors, more than anything else.

Analysts point to a combination of prolonged U.S. government shutdown risks, ongoing trade tensions, and weak global liquidity as key pressures weighing on risk assets, with crypto no exception. As a result, Bitcoin now moves more like a macro asset, reacting to global financial trends rather than purely supply-and-demand dynamics.

The drop was compounded by $19 billion in leveraged position liquidations and profit-taking from long-term holders. Historically, similar corrections occur roughly 400–600 days after halving events, placing this move in line with post-April 2024 halving trends.

Whale Moves and Institutional Signals

On-chain metrics from mid-November show massive movements from large holders, with wallets containing more than 1,000 BTC executing concentrated sales that pushed the price below $100,000 toward $97,000. Exchange and derivatives data indicate coordinated selling pressure, with $2.17 billion in short positions versus $1.18 billion in longs.

ETF outflows over consecutive weeks have further added pressure. Derivatives traders are buying put options between $90,000 and $95,000, signaling hedging demand. Analysts from Glassnode and MarketVector interpret this as scheduled distribution by long-term holders rather than panic selling, though the market’s ability to absorb these volumes has weakened.

The current trend underscores Bitcoin’s increasing sensitivity to macroeconomic conditions. Dollar strength, interest rates, geopolitical uncertainty, and liquidity constraints now drive BTC’s short-term movements as much as internal crypto fundamentals. This marks a shift from Bitcoin’s historical behavior, which was mostly influenced by halvings and supply dynamics.

However, institutional players remain active. MicroStrategy recently purchased 8,178 BTC at an average price of $102,171, spending roughly $835 million and reaffirming confidence in long-term price growth.

Analysts identify resistance at $100,000 and support around $93,000 as key thresholds. Market participants are closely monitoring whale wallet flows, ETF trends, and options positioning for signs of renewed demand.

A shift toward stronger spot inflows, reduced short exposure, and lower volatility would indicate genuine buying interest rather than short-term short covering. For long-term investors, this makes sub-$90K levels a potentially strategic entry, while also serving as a reminder of Bitcoin’s increased correlation with global macro conditions.

Deep Corrections, Higher Highs: What Investors Should Watch

Winklevoss’ “last chance to buy” framing highlights a familiar crypto pattern: deep drawdowns often precede new highs. While the path upward depends on liquidity, policy, halving cycles, and on-chain flows, the current environment offers a potential window for strategic accumulation.

Investors should watch technical support, whale activity, ETF movements, and macro indicators to gauge whether the market is ready for the next upward leg.