Bitcoin price rose more than 1% over the past 24 hours, trading at $91,278 at 2:50 a.m. EST, while trading volume fell 27% to $82.7 billion.
This rise in the BTC price comes as House of Representatives member Brandon Gill, a Bitcoin permabull, bought $150,000 worth of shares of BlackRock’s spot Bitcoin ETF (exchange-traded fund).
Gill is an active buyer of the largest cryptocurrency by market cap, having amassed up to $2.6 million in assets since his debut as a representative of the House of Representatives.
BREAKING: Representative Brandon Gill, one of Trump’s closest allies in the House of Representatives, now reports about $300,000 worth of Bitcoin.
Since taking office, he has collected up to $2.6 million in BTC.
The crypto wave has officially reached Capitol Hill. pic.twitter.com/voZM63MxAv— Money Guru Digital (@Moneygurudigi) November 19, 2025
Cboe Futures Exchange to enable continuous futures trading for Bitcoin
In another development, Cboe Global Markets Inc. announced that it will introduce its new Cboe Bitcoin Continuous Futures (PBT) and Cboe Ether Continuous Futures (PET).
The products are expected to begin trading on the Cboe Futures Exchange on December 15, pending regulatory review.
JUST IN: Cboe Futures Exchange is launching continuously #Bitcoin futures contracts from December 15 🚀 pic.twitter.com/BzKmZImxQE
— Bitcoin Archive (@BitcoinArchive) November 17, 2025
Cboe’s Continuous Futures are designed to provide traders with long-term exposure to BTC and ETH.
The contracts have a term of 10 years at listing and a daily cash adjustment, effectively creating perpetual exposure while eliminating the need to move positions periodically.
Bitcoin price drops towards 200 SMA as double-top analysis increases
After a strong rally from the $88,000 region earlier this year, the BTC price encountered heavy resistance near the $126,000 zone. This area caused repeated rejections, leading to the formation of a clear double-top pattern, indicating exhaustion in the bullish trend.
From July to early September, Bitcoin price consolidated below that ceiling and struggled to gain upward momentum.
Eventually, the sellers took control, pushing BTC’s price below the neckline of the double top structure. This collapse marked the beginning of an ongoing bearish phase.
Furthermore, the bearish stance is supported by multiple failed recoveries around the 50 Simple Moving Average (SMA) on the 3-day chart.
As the downtrend continued, BTC moved decisively below the mid-range Fibonacci levels, losing the 0.382 and 0.5 retracements, adding to the bearish narrative.
Bearish pressure has increased recently as the price of BTC fell to the critical 0.236 Fibonacci support near $97,000 and continued to decline towards the long-term 200 SMA around $87,900.
Trading below the 50 SMA and moving towards the 200 SMA reinforces the weak trend as bulls struggle to defend historically strong zones.
Furthermore, the Relative Strength Index (RSI) over the three-day time frame has fallen to 32, which is close to oversold conditions. While not yet below the classic 30 level, momentum is clearly bearish, supporting overall strong selling dominance.
BTC price prediction
Based on the current BTC/USD chart analysis, bearish sentiment remains dominant as the BTC price trades well below the 50 SMA and approaches the long-term 200 SMA. The confirmed double-top analysis supports broader downside momentum, while the RSI near oversold territory indicates that selling pressure is intense but may be close to exhaustion.
If the downtrend continues uninterrupted, the next support and buffer against bearish pressure corresponds to the $87,930 region, at the 200 SMA. A breakdown below this zone could reveal a deeper correction for Bitcoin’s price towards $84,000.
However, oversold conditions can cause a short-term rebound. In such a scenario, the initial resistance is around $97,000-$100,000, which corresponds to the 0.236 Fib level and local horizontal resistance.
Ali Martinez supports this bullish outlook as his analysis shows that the price of BTC could bounce to $99,000.
Bitcoin $BTC could bounce to $99,000! pic.twitter.com/CgBNG5DDUa
— Ali (@ali_charts) November 19, 2025
A stronger trend reversal would require reclaiming the 50 SMA ($112,051), which would signal weakening bearish momentum and open the door to a broader recovery.
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