Crypto Markets Face a Crossroads as Bitcoin Dips Below $106K
Bitcoin (BTC) slid to around $105,500, down more than 4 % on the day and about 8 % over the week marking a significant retracement of the bounce from the October crash. At the same time, major altcoins such as Ethereum (ETH), Solana (SOL), BNB and Cardano (ADA) fell in the 6-10 % range. More importantly, over $1 billion in leveraged positions across digital assets were liquidated during the sell-off.
What’s Driving the Decline?
After the crash in October, the rebound had largely been undone and the market is retesting previous lows. The $106K region has become a key barrier from a technical perspective. Note to mention the liquidation of leveraged positions have amplify moves. It caused sharp declines in altcoins which reflect the broader risk-off sentiment.
All I know is Bitcoin likely to face a choppy November. November historically being one of Bitcoin’s better months. All I see is the exhaustion suggests that the bounce off October’s lows may have been less about renewed optimism and more about short-term positioning. With liquidity thin and sentiment fragile, even small waves of selling have been enough to tip the market over. The larger economic picture isn’t doing Bitcoin any favors. Inflation remains sticky, interest-rate policy uncertain, and geopolitical risks high. These forces continue to dampen appetite for speculative assets. Other safe havens like precious metals especially Silver have taken it on the chin too. I seriously considering my portfolio heading into years end... Be safe out there and don't forget to take gains!
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I’m no expert but I’m thinking it’s going to be a long cold crypto winter. Might even see Bitcoin in the 80K range again.
Collin Talks Crypto did an interesting breakdown where he can see us go as low as $98K and still be in a bull market.
Legacy Alts pumping is interesting.
Ugh, I was really hoping for some more hopeful news!
My BTC holding is dominating my Crypto portfolio even when I haven't added much Sats lately.
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The market’s really taking a hit right now. Bitcoin dropping below $106K shows how shaky things are. Hopefully, it finds support soon — November has usually been a good month, so let’s see if it can bounce back.
I think it will line to 100k by the end of the year, which would still be better than end 2024... Too much tensions on the geopolitical side
Bitcoin keeps dipping and dipping which I believe is something one should actually look into
On the other side of the Reset the 105,000 amount for Bitcoin will become $1,050.00 in U.S. Stable Coinage…
Now some people's words seem to be true, anything can happen in crypto at any time
Bitcoin has fallen below 100,000, but my point here is that we should not let it fall below this daily closing candlestick, otherwise the market will be fud by a lot more.
Bitcoin's price, has fallen below $106K, alongside significant drops in major altcoins and the liquidation of over $1 billion in leveraged positions, indicating a risk, averse sentiment in the crypto market.