Bitcoin Dips Below $100K as Investor Sell Pressure Builds
Its brief slide has triggered fresh selloffs across crypto and reminded traders how quickly sentiment can turn.
Bitcoin breaking key support around $101,000 has thrown the crypto market into panic mode. Over the past few weeks, the world’s largest cryptocurrency has been on a downward trend ever since the global liquidation that wiped out $19 billion in leveraged positions, and the market hasn’t caught a break since.
The token dropped by more than 6%, briefly slipping below $100,000, its lowest level since June. That puts Bitcoin roughly 20% off its all-time high above $126,000 in early October, a reminder that in crypto, what goes up can come down just as fast.
But pressure isn’t coming from crypto alone. Global stocks and other risk assets have been shaky as investors wrestle with stretched AI valuations and lingering uncertainty over a possible U.S. interest rate cut in December. In a market that’s as much about sentiment as numbers, worry spreads quickly.
And for most of it, Spot Bitcoin ETFs, including BlackRock’s iShares Bitcoin Trust, Fidelity’s Wise Origin Bitcoin Fund, and Grayscale’s Bitcoin Trust, have seen about $1.3 billion in outflows since October 29. This tells you that when big money heads for the exits, retail usually follows, and that adds to the ongoing sentiment.
Meanwhile, altcoins have felt the pain even more. Ether and Solana suffered steeper losses, while Bitcoin-linked stocks like Coinbase and MicroStrategy also tumbled, showing the ripple effect across the broader ecosystem.
For anyone who’s watched crypto long enough, November has a reputation for being one of the best months for digital assets. So seeing red on the charts this early isn’t entirely surprising. Some analysts are already speculating that Bitcoin could test lower support near $88,000 if the selling continues.
The takeaway
Bitcoin slipping below $100,000 is a stark reminder that crypto isn’t just about charts and numbers, but also driven by investor sentiment. Sharp swings like this are normal, and managing your risk isn’t something you do once. Right now, the market is holding its breath. Whether Bitcoin finds support around $100,000 or drifts lower, the next few days will likely shape how traders feel heading into the end of the year, and in crypto, stability is never guaranteed.
David Adubiina
