- Bitcoin hits two-week low: Price falls below $104,000, down nearly 4% in 24 hours, amid broader risk-off sentiment.
- Massive liquidations: Over $1.37 billion in leveraged positions wiped out, with $1.2 billion from longs, per CoinGlass data.
- ETF outflows continue: Spot Bitcoin ETFs saw $187 million in net redemptions on Nov. 3, marking four straight days of losses.
- Bearish indicators mount: Crypto Fear & Greed Index at 21; prediction markets price 78% chance of BTC below $100,000 before 2026.
Bitcoin has tumbled briefly below $100,000, then recovered slightly to $101K, reaching a two-week low and igniting at least $1.37 billion in leveraged liquidations as market fragility intensifies.
The cryptocurrency slid nearly 4% over the past 24 hours, dipping to an intraday low of $99,860 early Tuesday. This decline, fueled by a strengthening U.S. dollar and AI-driven stock market concerns, has amplified pressure across the sector.
Altcoins feel the heat: Ethereum dropped 6% to around $3,500, while Solana fell nearly 10% to $159, contributing to a total crypto market cap of about $3.6 trillion.
Analysts point to ongoing ETF weakness as a key driver. On Nov. 3, spot Bitcoin ETFs recorded $187 million in net outflows—their fourth consecutive day of redemptions—while Ethereum ETFs shed $136 million.
In contrast, Solana ETFs attracted $70 million in inflows, suggesting some rotation toward higher-beta assets amid fatigue in majors.
Investor conviction wanes: The Crypto Fear & Greed Index plunged to 21, its lowest in weeks, reflecting deep caution. Bitcoin options open interest remains muted, and spot depth has thinned on major exchanges.
Bitfinex analysts noted in a report: “As BTC continues to trade within the top-buyer cluster, the market sits in a fragile state. We are not yet in a capitulation phase, but investors are showing signs of waning conviction.” They added that persistent long-term holder selling exerts structural pressure, with bull phases resuming only after accumulation restarts.
Short-term holders capitulate: Glassnode data shows short-term holder NUPL at -0.058, nearing April lows, historically signaling accumulation opportunities.
Traders eye further downside. Crypto investor Ted Pillows warned on X that if $100,000 support fails, BTC could correct to $92,000, filling a CME futures gap.
Meanwhile, a prominent whale who profited $200 million from October’s crash has opened $55 million in BTC and ETH longs on Hyperliquid, betting on a rebound, according to Cointelegraph.
Broader macro headwinds: The drop aligns with U.S. stock sell-offs amid AI bubble fears and geopolitical tensions, including tariff concerns.
On X, analyst @CryptoJelleNL commented: “Key area getting defended so far. Still, lots of work to do. Things will be a lot better once prices are back above $110,000.”
For context on key assets, see Bitcoin and Ethereum listings at Cryptopress.site.
Disclaimer: This article is for informational purposes only and does not constitute advice of any kind. Readers should conduct their own research before making any decisions.
