The crypto market is trembling as Bitcoin drops below the $108,000 mark, sparking fears of a potential major correction — or even a crash.
The infamous Hindenburg Omen, a technical signal that historically preceded major market collapses — from Black Monday in 1987 to the 2008 financial crisis — has just flashed again.
Hindenburg Omen Flashes Red
The Hindenburg Omen triggered twice in October, a rare cluster that analysts say raises the probability of a deeper downturn.
Market expert Tom McClellan noted that “multiple appearances of the signal tend to carry greater significance.”
The alert comes as Bitcoin and Ethereum ETFs experience capital outflows, while tech giants like Meta, Oracle, and Microsoft suffer heavy stock losses — fueling fears of a cross-market contagion between equities and crypto.
Markets Await U.S. Supreme Court Ruling on Trump Tariffs
Adding to the tension, global investors are now watching for the U.S. Supreme Court’s decision on Trump’s trade tariffs, which could have wide-reaching economic consequences.
Several states and corporate groups have challenged Trump’s policy, claiming his tariff strategy overstepped presidential powers and distorted international trade.
On Truth Social, Trump called the tariff case “one of the most important in U.S. history,” warning that without protectionist measures, the United States could “become a third-world country.”
Ironically, his recent trade deal with China, which cut tariffs to 47% and secured annual cooperation on rare earth minerals, had briefly boosted Bitcoin — until the latest sell-off began.
Whales Trigger Massive Sell-Off
Meanwhile, the market faces a wave of heavy selling by whales and long-term holders (LTHs).
Over the past 30 days, more than 405,000 BTC have been sold, suggesting a capital shift out of crypto assets.
According to Lookonchain, several long-time “OG” Bitcoin wallets transferred 13,000 BTC worth $1.48 billion to exchanges including Kraken, Binance, Coinbase, and Hyperliquid.
In just the past two weeks, liquidations have exceeded $364 million, with investor Owen Gunden alone depositing 483 BTC ($53 million) earlier this week.
Ethereum whales are also joining the sell-off — one major address sent 3,000 ETH worth $11 million to Binance, locking in over $14 million in profit.
10x Research: Bitcoin May Break Below $107,000
Analysts at 10x Research warn that Bitcoin could break below key support at $107,000, identifying three main drivers:
🔹 Cooling demand for spot ETFs
🔹 Miners pivoting to artificial intelligence infrastructure
🔹 Weakening Ethereum demand and a shrinking base of active buyers
“This week will reveal whether capital returns to the market or if we’re witnessing the early stages of a broader rotation out of crypto,” the firm said.
Market Mood: Caution, But No Panic Yet
Despite bearish sentiment, analysts emphasize that no signs of panic or capitulation have emerged.
Many investors still expect a bullish rebound in November, consistent with Bitcoin’s historical cycle patterns.
Bitcoin currently trades around $107,800, and traders are asking:
Is this just a short-term correction — or the start of a new crypto meltdown?
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