Renowned Bitcoin evangelist Max Keiser decided to frame the current market dip as nothing more than the last breath of a long distribution phase, and he did it on the same day Bloomberg screens showed something the market had almost given up on seeing this month — a rare session of net inflows into the Bitcoin ETF complex, with the group pushing a positive day even as the heaviest product in the lineup, BlackRock’s IBIT, closed with another red print.
That contrast between a bleeding market and green ETF columns appeared right as the weekly BTC chart reached the zone traders have been tracking since early Q1, because Bitcoin has now retraced roughly 32% from its $129,000 peak and landed on the mid-range area between $86,000 and $80,600.
The ETF numbers back this up, with figures instead of stories, since the crypto investments market posted a $238 million positive day despite losing over $4.3 billion across the month, which suggests that several investors with real money are buying into the latest drop instead of waiting for lower quotes.
Distribution ends.
Accumulation begins.
New BTC high in 2025. https://t.co/f0FJgTzonO— Max Keiser (@maxkeiser) November 23, 2025
This matches what Keiser said, which is that the market has crossed into accumulation, whether retail investors like it or not.
Bitcoin price in focus
The chart context adds another layer, because below $80,600 sits the final major structural level at $74,110, which is, accidentally or not, the average buy price of Michael Saylor’s Strategy, which currently holds 649,870 BTC worth as much as $55.96 billion.
If that zone remains untouched through the next few weekly candles, Bitcoin keeps its potential path toward the former resistance corridor around $112,000 and then the $120,000-$125,000 pocket that needs to be reclaimed before any conversation about a 2025 all-time high becomes any serious.