Bitcoin Dips Below $100K: A New Low Since June 2025 Amidst Crypto Market Chaos
Bitcoin, the world’s largest cryptocurrency, has seen a significant decline, dropping 6.7% to $99,936. This marks its fall below the psychologically crucial $100,000 benchmark for the first time since late June 2025. The digital asset has now plunged over 20% from its record high of $126,000, officially stepping into the bear market territory.
The broader cryptocurrency market is also witnessing substantial turbulence. Ethereum is down by 10%, and XRP has fallen approximately 6%. The Crypto Fear and Greed Index has nosedived to 20, indicating “extreme fear” among investors. This fear has led to over 300,000 traders facing daily liquidations.
The selloff has erased over $1 trillion from the crypto market since October 6. This drastic fall is driven primarily by excessive leverage rather than fundamental weaknesses. Bitcoin spot ETFs recorded $578 million in net outflows on November 4, marking the fifth consecutive day of withdrawals.
In a stark contrast, Solana spot ETFs bucked the trend with $14.83 million in inflows. This suggests that the investor appetite for alternative cryptocurrencies remains robust despite the broader market weakness.
Source: Tribune