The Bitcoin worth has fallen under $100,000 for the primary time in 4 months, wiping out almost 6% of its worth inside a single day. The drop may be attributed to a strengthening US greenback, outflows from Spot Bitcoin ETFs, and big liquidations throughout the crypto futures market, inflicting traders to query whether or not the long-anticipated bear market has lastly arrived. Notably, Bitcoin’s correction additionally rippled by your complete crypto sector, the place the full market capitalization fell under $3.5 trillion for the primary time in months.
Bitcoin Value Crashes Under $100,000
Bitcoin has spent the previous 30 days with an absence of clear bullish worth motion. Though it began October with a rally to interrupt above $126,000 for the primary time, which was a brand new all-time excessive, the vast majority of October was highlighted by the main cryptocurrency struggling to depart the $107,000 to $110,000 worth vary behind.
The extended interval of sideways buying and selling hinted at an absence of robust shopping for strain, and the weak spot has spilled into November. This has, in flip, prompted the main cryptocurrency to crash under $100,000 previously 24 hours, albeit just for a brief interval.
A surging US greenback has turn out to be one of many largest headwinds for Bitcoin’s current worth motion. The greenback index, which tracks the greenback’s energy in opposition to a basket of main currencies, climbed above 100 for the primary time since August. This transfer mirrored rising investor choice for safer belongings, particularly as uncertainty across the Federal Reserve’s subsequent interest-rate choice continues to hold over world markets.
The impression of this has been most seen within the crypto sector, the place confidence has eroded shortly. Bitcoin and Ethereum fell massively as merchants exited leveraged positions en masse. The sudden sell-off created a sequence response of liquidations throughout exchanges that worn out billions of {dollars} in futures positions inside hours.
In Bitcoin’s case, its market cap dropped by as excessive as 5.8% in simply 24 hours, falling to round $2 trillion. Buying and selling exercise has surged massively in the course of the downturn, crossing over $100 billion.
Is A Bear Market On The Horizon?
The crash under $100,000 opens up questions on whether or not the bear market has formally begun. The Bitcoin worth continues to be up 8% on a yearly foundation, however the scale of current losses alongside the rising US greenback index factors to a extra cautious section forward. On the time of writing, Bitcoin has already rebounded above $100,000 and is now pushing in direction of $102,000. The rebound implies that a piece of merchants has seized the chance to build up extra in the course of the dip, and Bitcoin is now buying and selling at $101,770.
If the Bitcoin worth slips under $100,000 once more, then it opens up the opportunity of an prolonged decline in direction of $90,000. Then again, bullish technical evaluation reveals that the crash prompted Bitcoin to the touch its 50-week shifting common, a stage that’s at all times preceded a brand new all-time excessive.
The final time this help was examined was in April 2025, and what adopted was a strong rebound that despatched the Bitcoin worth hovering greater than 50% to succeed in $125,000 within the months that adopted.
Featured picture created with Dall.E, chart from Tradingview.com
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