Main Points :
- Bitcoin fell below the key psychological threshold of $100,000, triggering a broad market sell-off.
- Major altcoins — ETH, XRP, SOL, ADA, DOGE — declined sharply following BTC’s breakdown.
- ETF inflows slowed while long-term holders increased selling, removing structural support.
- Technical indicators show BTC entering a low-liquidity zone, with downside risks toward $89,600.
- Macro uncertainty — FOMC minutes, U.S. tariff commentary, and global risk-off sentiment — is increasing market volatility.
- Analysts expect low trading volumes ahead of December unless major macro catalysts emerge
1. Introduction — A Market Shock Triggered by Bitcoin’s Breakdown
The cryptocurrency market faced a major shock in mid-November as Bitcoin (BTC) fell sharply below the symbolic $100,000 level, dropping to around $96,600 at one point. This marked BTC’s lowest point since May and signaled a significant shift in market sentiment.
The decline did not occur in isolation. Ethereum (ETH), XRP, Solana (SOL), Cardano (ADA), Dogecoin (DOGE), and other major assets experienced parallel sell-offs, reinforcing the narrative that liquidity conditions across the entire digital asset ecosystem were deteriorating.
Multiple factors drove this environment: slowing ETF inflows, long-term holders moving coins to exchanges or selling, weak retail momentum, and a global macro risk-off mood triggered by downward movement in tech stocks.
This article provides a comprehensive review of the current market decline, the broader macro and micro forces behind it, technical outlooks for BTC and major altcoins, and what crypto investors should expect in the coming weeks.
2. Bitcoin’s Sharp Decline — A Break Below $100,000 with Global Impact
Bitcoin’s drop from its previous $126,251 all-time high on October 6 has now turned into a full one-month corrective cycle. The correction coincided with a sudden deterioration in global financial markets following an unexpected tariff announcement by the U.S. administration, which triggered deleveraging across risk assets.
BTC fell as low as $93,700 on Sunday before stabilizing around $95,700 at the time of writing.
Why the $100,000 Break Was So Important
- It was a major psychological level widely watched by traders.
- It represented the mid-range of Bitcoin’s multi-month trading structure.
- Once broken, the price entered a low-liquidity zone, making further drops easier.
Technical analysts emphasize that losing the $100,266 mid-range destroyed a key liquidity shelf, opening the path to a deeper sell-off.
3. Altcoin Declines Mirror BTC — ETH, XRP, SOL, ADA in Freefall
ETH
- Fell below $3,200
- Roughly 10% down week-over-week
XRP
- Trading around $2.25,
- Down 8% on the week
BNB
- Hit $932,
- Down 7%
SOL — the hardest hit
- Dropped 16.5% to $140
DOGE
- Fell to $0.161
ADA
- Fell to $0.491
TRX stood out
- Held steady at $0.292, showing relative market strength even as others declined.
This synchronized decline confirms a structural deterioration in investor appetite across the board.
4. ETF Weakness & Long-Term Holder Selling — The Structural Foundation is Shifting
10x Research highlighted three critical structural trends pushing the market lower:
- ETF inflows slowed significantly for two consecutive weeks.
- This reduces institutional support.
- Long-term holders (LTHs) began selling into strength.
- LTH selling typically marks cycle transitions.
- Retail inflows remain weak.
- Without fresh liquidity, price recoveries become shallow.
Together, these conditions “remove the structural backbone” that supported Bitcoin throughout 2025’s bullish period.
5. Technical Analysis — Thin Liquidity and Open Downside Below $95,000
Bitcoin losing $100,266 activated a rapid drop toward thinner liquidity regions.
Key Support Zones
- $93,000 – $95,000
Currently being tested. - If broken: $89,600
This is a major liquidity gap and a likely target for algorithms and leveraged traders.
Key Resistance Zones
- $100,200
- $107,300
BTC has repeatedly failed to reclaim these areas in recent weeks.
Bitunix analysts noted that if the market cannot secure a strong support base near $93,000, the price could accelerate downward, reinforcing the ongoing bearish momentum.
6. Macro Uncertainty — FOMC, Government Shutdown Noise, and Tariff Shocks
Nick Luck of LVRG Research highlighted the importance of macroeconomic developments in the coming week:
- Markets will scrutinize FOMC minutes for any dovish commentary.
- Government shutdown-related delays have created uncertainty around upcoming economic data.
- Previous U.S. tariff comments kicked off the global risk-off shift.
ETF outflows and technical “death cross” patterns are combining with macro uncertainty to produce a volatile, low-confidence environment.
7. Exchange Commentary — Expect Low Trading Volume Ahead
Jeff Mei of BTSE said traders should expect:
- Low liquidity and low volume
- A cautious environment ahead of the December FOMC meeting
Unless a strong macro catalyst emerges, markets may remain dull, with sudden volatility spikes driven by liquidity vacuums.
8. Broader Outlook for Investors — Where Does Crypto Go from Here?
Short-Term
- Expect sideways or downward movement
- Weak liquidity means sudden drops are still possible
- Support at $93,000 is critical
Medium-Term
- If macro conditions soften (e.g., Fed slows tightening), institutional money may return
- ETF inflows will be key indicators of recovery
Long-Term
Despite short-term turbulence, long-term holders still control a significant portion of BTC supply, and fundamentals remain supportive over multi-year horizons.
However, cycle transitions can be painful, and investors should closely monitor liquidity, ETF behavior, and macro signals.
9. Conclusion — A Critical Moment for Crypto Market Structure
Bitcoin’s break below $100,000 triggered a coordinated market decline that exposed structural weaknesses across ETFs, long-term holder behavior, and retail participation.
Technically, BTC faces open downside toward $89,600, and macro uncertainty continues to pressure risk assets. Altcoins showed even greater sensitivity, confirming that speculative liquidity has thinned substantially.
Still, long-term fundamentals remain intact. Once macro conditions stabilize and ETF inflows recover, the market may find renewed strength.
The coming weeks will determine whether Bitcoin establishes a durable base or continues deeper into its cycle correction.
