Bitcoin Crashes Below $100,000 — Panic Returns to the Crypto Market
Summary:
- Bitcoin breaks below the $100,000 psychological barrier for the first time since June.
- The drop triggered a $300 billion market-wide sell-off.
- Strategy shares fell 6%, mirroring Bitcoin’s decline.
- Analysts blame worsening macro conditions and renewed risk-off sentiment amid U.S. government instability.
For the first time in months, Bitcoin (BTC) has slipped below the $100,000 mark, sending shockwaves through the entire cryptocurrency market. On Tuesday, November 4, Bitcoin plunged to $99,954, marking its lowest level since June 2025 before bouncing slightly to hover around $100,269.
The drop represents a 6% daily decline, erasing hundreds of billions from global crypto valuations. According to data from CoinMarketCap, the total crypto market cap fell by 6.4%, wiping out roughly $300 billion in value in less than 24 hours.
$100K — The Psychological Line in the Sand
For many traders, the $100,000 level has been a symbolic stronghold — a benchmark that represented Bitcoin’s new baseline in this cycle. The last time BTC fell below this zone was on June 23, when it hit a low of $99,705.
Analysts say this drop could test critical technical support near $98,000, which also coincides with a high-liquidity zone where large buy orders may stabilize prices.
Why Did Bitcoin Plunge?
The sell-off was driven by a combination of macro fears, ETF outflows, and massive liquidations across major exchanges.
- Government Shutdown & Tariff Tensions:
Renewed concerns over a U.S. government shutdown and the return of tariff threats have reignited fear across global markets. Investors are scaling back exposure to risk assets, including crypto. - Federal Reserve Uncertainty:
Comments from Fed officials hinting at a pause in future rate cuts have weakened investor confidence. Traders had been expecting continued easing — but that now seems unlikely. - ETF Outflows Accelerate:
Bitcoin and Ethereum ETFs have now logged five straight days of negative flows, signaling sustained institutional profit-taking. - Massive Liquidations:
According to Coinglass, over $1.4 billion in leveraged positions were liquidated in 24 hours — with $1 billion in long positions wiped out.
Market-Wide Impact
The Bitcoin crash sent shockwaves through altcoins, with Ethereum slipping toward $3,500, Solana down over 10%, and meme coins like Dogecoin and Shiba Inu losing nearly double digits in a single day.
Even traditional finance-linked crypto stocks reacted — Strategy (which holds large BTC reserves) dropped 6%, while Coinbase fell over 7% during early trading.
What Happens Next?
Analysts say all eyes are now on the $98,000 support level. A clean break below that could accelerate downside momentum toward $95,000 or even $92,000 — areas last seen before Bitcoin’s summer breakout.
However, some traders remain cautiously optimistic. Despite the pullback, on-chain data shows long-term holders have not yet begun mass selling. This suggests that much of the move could be short-term panic rather than a full trend reversal.
Meanwhile, the U.S. dollar has shown slight strength since the Fed’s September rate cut, adding pressure to crypto valuations.
Bottom Line
Bitcoin’s slide under $100,000 has reignited fear in the crypto market, reminding investors that even in a bullish cycle, macro uncertainty still rules. With ETF outflows, regulatory limbo, and global economic tension, traders are bracing for a volatile week ahead — watching closely to see if BTC can reclaim six figures, or if this marks the start of a deeper correction.
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