Well, the bitcoin price bleeding just doesn’t stop. Bitcoin price just tumbled below $100,000 for the first time since June, marking a fresh low in a rough stretch for the world’s leading cryptocurrency.
Bitcoin’s price hit $99,913 but rebounded to $100,575 — at time of writing.
The bitcoin price slide comes as investors flee risk assets and macro headwinds mount.
The cryptocurrency dropped more than 5% early Tuesday, briefly testing levels not seen in months. Traders watched nervously as the coin broke below key technical support around $104,000. That move yesterday fueled concerns that further losses could be imminent.
Spot Bitcoin ETFs have seen a wave of withdrawals. Investors pulled more than $1.8 billion from Bitcoin and Ether products over the past few trading days.
Ethereum and Solana were hit harder, each falling over 5%, while crypto-linked stocks like MicroStrategy, Coinbase, and Robinhood slipped at least 3%.
“The crypto market today is facing multiple near-term headwinds,” said Derek Lim, head of research at Caladan, per Bloomberg. “This is hitting a market that is already fragile from October’s massive liquidation event and a string of hacks.”
All this bitcoin price resistance started when, on October 10, Bitcoin and the broader crypto market witnessed a drastic and sharp sell-off as President Trump announced sweeping 100% tariffs and export controls in response to China’s new restrictions.
Despite improved trade talks with China, bitcoin price has not recovered and has slumped much further than the sell-off lows.
Bitcoin price reacts to Fed’s hawkish tone
The Federal Reserve has also weighed on sentiment. Fed Chair Jerome Powell recently walked back expectations of a December rate cut, signaling that interest rates could remain higher for longer.
Powell said that additional rate cuts may not follow in December. The central bank reduced its benchmark interest rate by 0.25 percentage points to a target range of 3.75%–4%.
Powell said that inflation excluding the impact of tariffs is “not so far” from the central bank’s 2% target, but emphasized that policymakers have “not made a decision about December.” Powell noted that officials held “strongly differing views” during the meeting.
The cut — the Fed’s second of 2025 after a move in September — ended a long stretch of rate holds. The policy shift is intended to lower borrowing costs and support economic activity.
The stronger U.S. dollar has pressured non-yielding assets like Bitcoin, adding fuel to the sell-off.
Technical charts show Bitcoin price has struggled to hold its 200-day moving average, a key long-term indicator. Analysts say the next line of support sits near $96,000. On the upside, reclaiming $111,000 would be a first step toward regaining momentum.
Market sentiment reflects caution. The crypto fear and greed index shifted to “extreme fear” on Monday, a stark change from last week’s neutral readings.
Open interest in Bitcoin perpetual futures has fallen roughly 30% from October peaks, indicating that leveraged traders are stepping back, according to Bitcoin Magazine Pro.
Some bulls are still buying the dip. Strategy, the firm co-founded by Bitcoin evangelist Michael Saylor, purchased 397 BTC between Oct. 27 and Nov. 2 at an average price of $114,771. Their move is a small but notable vote of confidence amid the turbulence.
Investors now look ahead to the U.S. Consumer Price Index report due Nov. 13. Cooler inflation data could spark speculation of Fed easing, a potential boost for Bitcoin. Until then, sellers remain in control, and a sustained close below $100,000 could trigger deeper losses.
Despite the pullback, Bitcoin’s long-term story remains intact. It surged from $5,000 in March 2020 to over $126,000 in October 2025, highlighting the coin’s volatility and resilience.
But for now, traders are treading carefully, wary of further downside as the market digests October’s historic losses.
