Bitcoin briefly dipped to $98,966 overnight — marking its lowest point since late June 2025, according to TradingView data.
As of writing, the flagship cryptocurrency has slightly recovered, now trading above $101,000, stabilizing within that range after the sharp correction.
Market-wide pullback
Following Bitcoin’s drop, most major altcoins also saw red. Ethereum lost nearly 5% in the past 24 hours, while other top-10 assets by market capitalization recorded similar declines.
The 24-hour liquidation volume has surpassed $1.77 billion, mostly consisting of long positions — traders who bet on a rebound after the brief recovery on November 4.
Growing fear and fading optimism
The Crypto Fear & Greed Index fell by 16 points within a day, reflecting increased market pessimism and cautious sentiment among traders.
Analysts attribute the current downturn to several overlapping factors — the Federal Reserve’s cautious stance on monetary easing, weakened institutional demand, and continued sell-offs by major holders.
Expert insight
Paul Howard, CEO of Wincent, told CoinDesk that the summer 2025 excitement surrounding Bitcoin ETFs and Treasury-backed crypto firms (DAT) has largely evaporated.
“Large holders continue to offload assets, creating selling pressure that isn’t being absorbed by new buyers,” Howard explained.
He added that if this dynamic continues, it could signal the beginning of a new bear market, consistent with Bitcoin’s traditional four-year cycle.
