Bitcoin Falls Below $100K, Wipes Out $1 Trillion from the Crypto Market – Here’s What’s Really Happening

Bitcoin slipped below $100,000 for the first time since June 2025 and officially entered bear market territory with a 20% decline from its October 6 record high as crypto markets wiped out over $1 trillion in total market ￰0￱ sharp downturn, driven primarily by unprecedented leverage levels rather than weakening fundamentals, has left 300,000 traders liquidated daily on average while crypto adoption, deregulation, and technological advancement continue at a record ￰1￱ massive selloff can be traced back to heightened leverage amplifying market swings, particularly the $20 billion liquidation event on October 10. “ Leverage is a wild ‘drug ,'” noted The Kobessi Letter, describing how the market has evolved into its most reactive form in history amid Trump posts and breaking ￰2￱ million dollar question: What is happening crypto right now?

Crypto markets have now officially erased over -$1 TRILLION of market cap since October ￰3￱ why? The answer to this question seems to be more technical than ￰4￱ is, crypto adoption is still… — The Kobeissi Letter (@KobeissiLetter) November 4, 2025 Technical Breakdown and Support Levels—What’s Next for BTC? Bitcoin lost key support at the 85th percentile cost basis of around $109,000 and now hovers near $103,500, according to Glassnode ￰5￱ next key level sits at the 75th percentile cost basis near $99,000, which has historically provided support during ￰6￱ reported that short-term holders intensified loss-selling pressure, stating, “today alone, we’re seeing roughly 30,300 BTC being deposited while underwater, reflecting a growing wave of capitulation among recent buyers.”), we see immediate profit-taking or break-even exits, ” CryptoQuant noted. “ These reactions create overhead resistance and make it harder for price to break higher. “ Why Institutions Keep Buying Despite the Bloodbath Earlier today, Binance data reveals that Bitcoin is trading below its moving average of $112,245, with unrealized losses at just 0.06%.), indicates continued institutional position accumulation. ” Key resistance now sits between $111,000 and $113,000. “ A break of this level could trigger upward momentum and pave the way to $117,000, and with favorable macroeconomic news, a retest of the all-time high of $126,000, ” Young ￰7￱ Case ￰8￱ Case Outlook Analyst Plan C maintains his base case for continued bull market conditions, expecting recovery after briefly dipping below the 50-week moving averages.

However, he addressed growing fears ￰9￱ said that “ a lot of the fear right now comes from people having PTSD from previous Bitcoin events like the FTX/Luna collapses, or from the recent mass liquidation events if they were holding altcoins. “ My Bitcoin Market Synopsis: You’re going to want to bookmark this. *Not Investment Advice* My base case remains that we are still in a bull market: we’ll recover from this dip over the coming week or two after briefly dipping below the 50-week SMA/EMA, then closing back above… — PlanC (@TheRealPlanC) November 4, 2025 Plan C emphasized how institutional adoption has fundamentally changed market dynamics. “ With the institutional bid and the market cap now comfortably over $1 trillion, Bitcoin is not the same ￰10￱ ‘it could go to zero’ discount that existed in all previous bear markets has been completely removed. ” “ Bitcoin is now on the radar of essentially ALL the big money players in the world ,” he ￰11￱ projected that even in a bear scenario, “ the odds of dropping below $70,000 (-45%) are extremely small, and a move to $80,000–$90,000 is much more likely if — and it’s a big if — the bull market is truly over, which I still don’t think it is. “