Bitcoin has fallen below $100,000! 470,000 investors lost everything overnight, and the 'faith recharge area' has become a 'leverage graveyard.'
On November 5, the cryptocurrency market experienced a 'high-altitude waterfall.' Bitcoin fell below the psychological threshold of $100,000 for the first time since late June, dipping as low as $99,352, with a single-day drop of over 7%, causing a sudden cooling of market sentiment.
Even more shocking are the bloody statistics behind it. According to CoinGlass, over 470,000 investors worldwide were forced to liquidate within 24 hours, with the total liquidation amount nearing $1.8 billion, setting a record high since August. More than 90% of these were long positions, once again confirming the brutal reality that 'bull markets can lose the fastest.'
[Data Perspective: A Silent Massacre]
This round of Bitcoin's high diving speaks most shockingly through the data:
· Prices have fallen nearly 20% from the historical high of $126,000 in October, stepping into a 'technical bear market.'
· Major cryptocurrencies have collectively collapsed: Ethereum fell by 10%, XRP dropped by 6%, and Binance Coin plunged by 7.65%.
· The chain reaction has spread to the ETF market: U.S. spot Bitcoin ETFs have seen net outflows for four consecutive days, bleeding approximately $1.34 billion.
· BlackRock's IBIT saw outflows of $400 million in one day, with institutions running away more decisively than retail investors.
In this frenzy of leveraged liquidation, $1.8 billion of the liquidation amount largely comes from stubbornly bullish investors—sometimes in the cryptocurrency world, the deeper the faith, the harder the crash.
[The Cause of the Crash: Who Pressed the Sell Button?]
Behind this crash is a carefully mixed cocktail of bearish sentiment:
Federal Reserve Chairman Powell has issued hawkish signals, stating that a rate cut in December is 'far from certain,' instantly freezing market enthusiasm.
· The dollar index has surged to a three-month high, history once again proves: a strong dollar and strong Bitcoin are hard to achieve simultaneously.
· CEOs of Goldman Sachs and Morgan Stanley both warn that U.S. stock valuations are too high, and risk panic has spread to the cryptocurrency market.
10x Research analyst Damian Chmiel warns: if Bitcoin continues to stay below $100,000, it could trigger a more severe sell-off, with the next target being $74,000—this implies nearly a 30% downside potential.
[Institutional Dark War: Whale Retreat and Reverse Layout]
In this bloody washout, the operations of big players have shown clear differentiation:
Bitcoin whales have sold about 400,000 bitcoins in the past month, worth $45 billion, and the exit of long-term holders has shaken the market's foundations.
· 10x Research founder Markus Thielen warns that if this sell-off follows the pace of the 2021-2022 bear market, it could last for six months, with prices potentially dipping to $85,000.
But there are always those who see opportunities in panic:
Strategy Company has increased its holdings of 397 bitcoins against the trend, investing around $45.6 million.
· The company currently holds 641,205 bitcoins, with an average cost of only $74,057, and the current price remains highly profitable.
The Wall Street bulls have not given up their faith. Fundstrat's Tom Lee insists that Bitcoin could hit $150,000 to $200,000 by the end of 2025.
When retail investors are cutting losses during the plunge, institutional players are quietly laying out their next moves. Looking back at MicroStrategy's holding cost of $74,057 will make it clear: the market has never changed, it just keeps changing its targets for harvesting.#巨鲸动向 #加密市场回调 #十月加密行情
