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On Tuesday, November 4, Bitcoin (BTC) briefly slipped underneath the US$100,000 mark. It dropped to round US$96,794 earlier than barely recovering, marking its first drop underneath six figures since June 2025. This arrived mere days after Bitcoin climbed previous US$115,000, pushed by optimism surrounding potential Federal Reserve charge cuts, in addition to elevated institutional positioning. The sudden reversal displays profit-taking after the late-October surge, additionally paired with a wider pullback throughout threat property as merchants are recalibrating interest-rate expectations and macro sentiment.
The drop hasn’t executed a lot to decelerate on a regular basis exercise throughout the crypto sector. Bitcoin and different property proceed to maneuver by funds, Web3 gaming, and leisure platforms. A notable use case is crypto casinos, the place customers enjoying from the Australia space, the USA, the UK, and past all profit from speedy settlement, wallet-to-wallet payouts, and low-friction onboarding. These sit alongside different steady-use instances corresponding to worldwide freelance funds and cross-border e-commerce, all of which stay energetic no matter short-term market swings.
A number of analysts tie the pullback to shifting expectations on financial coverage. After weeks of hypothesis that the Federal Reserve may start reducing charges sooner moderately than later, futures markets started pricing in a slower and extra cautious method, cooling the narrative that had helped propel Bitcoin to recent highs. As equities additionally retreated and the U.S. greenback strengthened, merchants diminished leverage and unwound lengthy positions, pushing BTC beneath the psychological six-figure threshold earlier than discount patrons stepped in.
Knowledge exhibits greater than US$550 million in leveraged crypto positions had been liquidated in 24 hours, with Bitcoin accounting for a big share of the wipeouts. That mirrors earlier drawdowns in 2021, 2022, and mid-2024, when quick liquidations amplified downward worth momentum earlier than finally stabilizing. Ethereum, Solana, and a number of other different large-cap altcoins additionally posted double-digit intraday losses.
Even so, the broader narrative round institutional involvement has not reversed. Asset-management flows stay constructive each month, and a number of other pending ETF-related filings in Asia and the U.S. proceed to generate long-term curiosity. On-chain information additionally means that long-term holders (wallets that haven’t moved BTC in additional than 155 days) haven’t meaningfully bought into the dip, an indication that the most recent transfer is being pushed primarily by short-term merchants moderately than structural holders.
Market strategists say the following key stage to look at is whether or not Bitcoin can proceed to reclaim and maintain the US$100,000–US$103,000 band. That is an space that beforehand acted as help in the course of the late-summer rally. A sustained break again above that zone would very probably change sentiment once more, whereas a deeper slide may find yourself opening the door to additional corrective stress. Both consequence, although, can be in step with historic Bitcoin cycles, the place new highs are sometimes adopted by abrupt retracements earlier than longer-term developments keep on.
For now, there’s a acquainted sample being bolstered. Bitcoin can transfer sharply in both course in a brief interval, even when improvement and real-world exercise proceed within the background. The newest dip could effectively show to be a quick reset. Nevertheless, the truth that BTC has already bounced again above the six-figure mark once more exhibits that the market continues to be greater than prepared to defend key ranges, even when it’s confronted with quickly shifting macro sentiment.
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