In a shocking reversal of fortune, Bitcoin has fallen below the $100,000 mark, a level that had become a benchmark for the cryptocurrency’s value since its surge above the threshold in May 2025.
This dramatic Bitcoin price crash comes after a period of relative resilience as BTC managed to hold above the mark despite recent fluctuations. Things took a massive turn following the October 11 crypto market crash, which unleashed a torrent of selling pressure and bearish sentiment.
As the dust settles, investors are left to ponder BTC’s next move. Will the pioneer crypto once again break past this key level, or exhibit further plummets?
Bitcoin Price Plunges below $100k
The Bitcoin price has experienced a significant downturn, further escalating the prevailing negative sentiment. The crypto plummeted below the critical $100k mark for the first time since May, when it broke past this level.
After surging past this level in May, the cryptocurrency showcased resilience over the past few months, sparking widespread enthusiasm and excitement. In early October, it reached a new all-time high of $126k, with many expecting it to continue its upward trend and potentially reach $130k-$132k.
However, this bullish sentiment took a darker side with the October 11 crypto market crash, triggered by trade tensions between the US and China, which resulted in massive volatility and forced liquidation. Since then, most of the cryptocurrencies have been experiencing severe pressure and high volatility. During this period, Bitcoin stayed below the $115k zone and plunged below $110k multiple times. Despite briefly touching $100,000 on November 5 and managing to sustain above it initially, Bitcoin has now fallen below this crucial level.
This Bitcoin price crash comes amid alerts and cautions from market experts. Currently, the cryptocurrency is valued at $99,653, down by 2.5% in a day. Over the past week and month, the crypto has faced more notable plummets of 10% and 19%, respectively.
Despite Bitcoin’s recent dip below the $100,000 mark, the cryptocurrency is witnessing a surge in trader activity, with community engagement on the rise. Notably, the 24-hour trading volume has jumped to $89.01 billion, up 38%. This indicates that investors are buying the dip and are increasingly optimistic about BTC’s potential uptrend.
What Led to this Downtrend?
Significantly, Bitcoin’s prevailing negative trend is driven by multiple factors, including ETF outflows and increasing selling pressure.
Spot ETF Outflows
Spot Bitcoin ETFs have experienced notable net outflows, totalling $488.4 million. This trend follows a decline of over $5 billion in Assets Under Management (AuM) since early October, largely due to growing macroeconomic uncertainty.
Sustained outflows indicate a decrease in institutional demand for BTC. This could significantly impact the crypto price, and if the outflow continues, BTC could slip further down. The 30-day correlation between ETF flows and BTC price stands at 0.87, highlighting the influence of ETF flows on the crypto.
Whale Sell-Off
The recent surge in whale activity, where large holders were offloading their holdings, has critically impacted the crypto price. In particular, two major whales sold a combined 10,000 BTC, valued at $1 billion, sparking caution.
Also, on-chain data suggests that over 37,000 small wallets, each holding less than 10 BTC, have exited their positions in the past 10 days, signalling widespread retail capitulation and adding to the bearish sentiment. This development indicates that large holders are taking profits near the psychological $100k threshold.
What’s Next for BTC Price?
Previously, high-profile traders like James Wynn had predicted the pioneer crypto’s potential plunge to severe lows of $70k-$80k. These predictions invoke concerns as the BTC price is showing bearish signals after plummeting below the $100k mark.
However, analysts like Crypto GEMs still remain optimistic about the crypto’s future bull run. In a recent X post, the analyst projected an ambitious target of $500k for BTC.
