Bitcoin Dips Below $87,000 as Saylor Posts 'We Got Lucky'

Bitcoin (BTC) has fallen below $87,000 for the first time since April 2025, extending a multi-week sell-off that has now erased all of the cryptocurrency’s year-to-date gains. The leading digital asset traded as low as $86,123 on November 21, 2025, before a modest rebound to around $87,500, down 4.3% in the past 24 hours.

Saylor’s ‘We Got Lucky’ Post Sparks Debate

The price drop coincides with a reflective post from Michael Saylor, executive chairman of Strategy Inc. (formerly MicroStrategy), who wrote on X: “We got lucky.” Saylor’s comment, posted amid the downturn, prompted a lively discussion among his 3.5 million followers. Some interpreted it as humility about Strategy’s massive Bitcoin treasury strategy, which has delivered 150% returns year-to-date despite the recent correction. Others saw it as a subtle acknowledgment of market timing risks, given the firm’s average acquisition cost of $66,384 per BTC across its 649,870 holdings.

Saylor has been vocal about Bitcoin’s long-term potential, recently predicting $150,000 by year-end. His “lucky” remark highlights the volatility even for institutional holders, with Strategy’s stock down 15% in the past month despite Bitcoin’s underlying strength.

Market Context: $1 Trillion Wiped Out, Liquidations Mount

Bitcoin’s decline has shaved more than $1 trillion from the total crypto market cap over the past six weeks, with the benchmark cryptocurrency now down 28.7% from its October high of $126,000. The move has triggered over $1.2 billion in liquidations in the past 24 hours, predominantly long positions, as leveraged traders were caught off-guard.

Ethereum followed suit, dropping 5.6% to $3,200, while Solana and major altcoins shed 3-5%. The Crypto Fear & Greed Index has fallen to 11 (“extreme fear”), the lowest since March, reflecting broad risk aversion amid U.S. government shutdown delays and tariff uncertainty.

Technical Levels: $85K–$80K Next if Support Fails

Analysts point to the $87,000–$85,000 zone as critical support, aligned with the 200-day moving average. A break below could target $80,000, but oversold RSI (below 25) and positive funding rates suggest potential for a short-term bounce. Long-term holders have reduced spending by 27% during the sell-off, indicating capitulation may be nearing.

In summary, Bitcoin’s drop below $87,000 amid Saylor’s “We Got Lucky” post underscores market fragility, but technical oversold signals and holder resilience hint at a possible reversal if $85,000 holds.