The cryptocurrency market continues to evolve amid shifting macroeconomic conditions and high-profile industry developments. Recent commentary from BitMex founder Arthur Hayes has sparked renewed discussion about market cycles, risk management, and the path forward for digital assets like Bitcoin and Ethereum. As traders navigate short-term volatility, understanding key support and resistance levels, along with broader market sentiment, becomes crucial.
Hayes recently published a detailed analysis on the collapse of FTX, attributing its downfall to a familiar pattern in financial markets: overexpansion fueled by inflated valuations and cheap credit. When monetary conditions tighten, such models become unsustainable. This insight resonates deeply within the crypto space, where leverage and speculation often amplify both gains and losses.
Despite the turbulence, Hayes remains cautiously optimistic. He suggests that the current bear market may be nearing its final phase — what he describes as “the last candle” of decline. If accurate, this could signal the beginning of a new bullish cycle in the months ahead, especially as macroeconomic pressures begin to ease.
Market Reaction to FTX Collapse
The fallout from FTX’s collapse extended beyond exchange balances and investor trust. One notable technical impact was seen in decentralized oracle networks that rely on accurate price feeds.
Chainlink, a leading decentralized oracle network, announced that multiple data providers have removed FTX as a source for price feeds. Other providers are actively monitoring the situation and applying outlier detection mechanisms to exclude potentially skewed FTX data. This move underscores the importance of data integrity in DeFi protocols, where inaccurate pricing can trigger cascading liquidations or arbitrage opportunities.
Previously, Band Protocol also removed FTX from its data sources, reinforcing a broader trend toward strengthening data reliability across blockchain ecosystems.
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Bitcoin Price Analysis and Short-Term Strategy
As of mid-November 2025, Bitcoin is exhibiting range-bound behavior, testing key psychological and technical levels. The current structure suggests a potential breakout is imminent, but until then, swing traders can take advantage of defined support and resistance zones.
Key Levels:
- Resistance Zone: $17,100 – $17,300
- Support Zone: $16,100 – $16,200
Short-Term Trading Strategy (November 2025):
Sell Setup:
- Entry: $17,100 – $17,300
- Stop Loss: $300 above entry (at $17,600)
- Take Profit Target: $16,300 – $16,100
This short position is based on historical rejection patterns near the $17,300 level and declining volume momentum. If Bitcoin fails to close above this zone with strong conviction, a pullback toward lower support is likely.
Buy Setup:
- Entry: $16,200 – $15,900
- Stop Loss: $300 below entry (at $15,600)
- Take Profit Target: $17,100 – $17,300
This long setup targets a mean reversion play if Bitcoin holds above the $15,800 swing low. A break below $15,800 could invalidate the bullish thesis and open the door to further downside toward $15,500 or lower.
Traders should monitor on-chain metrics such as exchange netflow and whale accumulation patterns to confirm whether selling pressure is subsiding.
Ethereum Short-Term Outlook and Trade Plan
Ethereum, while following Bitcoin’s general trend, shows slightly stronger resilience due to ongoing protocol upgrades and steady DeFi activity. However, it remains vulnerable to broader market sentiment shifts.
Key Levels:
- Resistance Zone: $1,240 – $1,260
- Support Zone: $1,120 – $1,140
Short-Term Trading Strategy (November 2025):
Sell Setup:
- Entry: $1,240 – $1,260
- Stop Loss: $30 above entry (at $1,290)
- Take Profit Target: $1,140 – $1,120
This range has acted as resistance multiple times over recent weeks. A failure to sustain momentum above $1,260 increases the likelihood of a correction toward the lower bound.
Buy Setup:
- Entry: $1,140 – $1,120
- Stop Loss: $30 below entry (at $1,090)
- Take Profit Target: $1,260 – $1,280
The $1,120 level aligns with prior swing lows and on-chain support indicators. A bounce from this zone could reignite upward momentum, particularly if ETH/BTC ratio begins to strengthen.
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Frequently Asked Questions (FAQ)
Q: Is now a good time to enter the crypto market?
A: While timing the exact bottom is difficult, November 2025 presents strategic opportunities for disciplined traders. With many indicators suggesting the bear market may be ending, executing well-planned swing trades around key levels can yield favorable risk-reward outcomes.
Q: How reliable are technical strategies during major exchange collapses like FTX?
A: Technical analysis remains valuable but should be combined with fundamental awareness. Events like FTX’s collapse increase volatility and can distort short-term price action. Always use stop-loss orders and reduce position sizes during uncertain periods.
Q: Why are oracle networks removing FTX data?
A: Oracles like Chainlink prioritize data accuracy. With FTX no longer operational and potential for manipulated or stale pricing, excluding it ensures DeFi protocols function correctly without erroneous liquidations or mispricings.
Q: What role does sentiment play in Bitcoin and Ethereum price movements?
A: Sentiment is a powerful driver in crypto markets. News events, regulatory updates, and influential figures like Arthur Hayes can shift trader psychology rapidly. Monitoring sentiment through social analytics and funding rates improves decision-making.
Q: Should I follow trading signals blindly?
A: No. All trading strategies should be adapted to your risk tolerance and verified with independent analysis. The setups provided here are educational examples — never substitute them for personal due diligence.
Final Thoughts: Navigating Volatility with Discipline
The cryptocurrency landscape in 2025 remains dynamic and unpredictable. While structural improvements in transparency and infrastructure — such as more robust oracle networks — are reducing systemic risks, individual traders must still exercise caution.
By focusing on high-probability price zones, managing risk with proper stop-loss placement, and staying informed about macro developments, traders can position themselves advantageously as the market potentially transitions from bearish to bullish momentum.
Market cycles are inevitable. What separates successful traders is not perfect prediction — it's consistency, discipline, and adaptability.
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Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency trading involves significant risk. Always conduct your own research and consult with a qualified financial advisor before making investment decisions.