A recent survey of Russian crypto investors revealed strong demand for Bitcoin following the recent price correction, with approximately one-third of survey respondents actively purchasing Bitcoin even after the price fell below $100,000.
The poll, conducted on RBC Crypto’s Telegram channel, shows the sentiment while Bitcoin fell to around $99,000 on November 5, 2025, dropping below $100,000 for the first time in months.
Approximately 30.09% of participants responded that they believed in growth and were buying, while 40% expressed uncertainty whether the current price level was a good entry point. 22% of respondents believe prices will fall further and are waiting before buying, while more than 25% are holding firm despite already having losses.
As of November 6, 2025, Bitcoin has recovered slightly from the previous day’s price and is currently trading at $102,274, with a market capitalization of $2.02 trillion and a 24-hour trading volume of $59.02 billion.
Meanwhile, Ethereum is trading at $3,291 as of November 6, 2025. The rebound was driven by more than $2 billion in liquidations (mostly long positions) related to ETF outflows and broader risks.
Price correction pushes Bitcoin into bearish territory
The sharp selloff in early November sent Bitcoin into technical bear territory, dropping more than 20% from its all-time high of $126,198 on October 6, 2025. Trade tensions and profit-taking wiped out $19 billion in mid-October.
The US Spot Bitcoin ETF recorded net outflows of $577.74 million on November 4, marking the fifth consecutive day of withdrawals, led by Fidelity’s FBTC, which recorded net outflows of $356.58 million. The total market capitalization of cryptocurrencies was $3.37 trillion, down 1.94% in the past 24 hours.
Analysts remain positive on seasonal fluctuations, with Bitcoin historically averaging a 42% gain in November. Fundstrat’s Tom Lee said his year-end goal is $150,000 to $200,000.
Belarus-based Shifra Markets expects Bitcoin to exceed $130,000 by December 2025 due to liquidity and institutional impact.
Central banks quietly embrace crypto derivatives
Despite the challenges, Russia’s cryptocurrency ecosystem continues to grow, with an estimated 20 million citizens holding approximately $40 billion in digital assets.
The central bank now allows accredited investors to access cryptocurrencies through derivatives and allows banks to handle digital assets with strict restrictions. Approved businesses will be able to use cryptocurrencies for cross-border payments, with full regulation expected in 2026.
Sanctions accelerated adoption, making Bitcoin a hedge against the ruble, complemented by initiatives such as Sberbank’s Bitcoin-linked bonds and the legalization of mining operations.