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Bitcoin plunges below $100K for the first time in 135 days as Fed hawkishness and macro risks trigger $760B market loss.
Author: Tanishq Bodh
November 5, 2025 – Bitcoin (BTC) has fallen below the $100,000 mark for the first time since June, ending a 135-day streak above this critical psychological threshold. The world’s largest cryptocurrency plunged to $99,800, down 6% in 24 hours and 12% from last week’s high of $115,966.
The broader crypto market shed $760 billion in value, with Ethereum down 16% and Solana down 20%, signaling a deep risk-off sentiment across digital assets.
The drop caps a turbulent week for Bitcoin, which recently touched $126,000 in October, buoyed by pro-crypto U.S. policies and corporate treasury adoption including Trump Media’s $2.5 billion BTC reserve plan. But the euphoria faded quickly. Within days, hawkish Federal Reserve comments, renewed U.S.-China trade tensions, and a stronger U.S. dollar flipped sentiment.
In just 24 hours, over $478 million in leveraged long positions were liquidated as traders scrambled to unwind bets. Spot Bitcoin ETFs also saw $1.3 billion in outflows, led by BlackRock’s IBIT and Fidelity’s FBTC. The On-Balance Volume (OBV) and Chaikin Money Flow indicators both fell to multi-month lows, underscoring fading buying pressure.
Investor confidence has been rattled by shifting Fed expectations. Governor Lisa Cook hinted at caution over December rate cuts, while Kansas City Fed President Jeffrey Schmid voted against further easing. This hawkish tilt has fueled dollar strength, tightening financial conditions that historically weigh on Bitcoin.
Adding to the pressure are new tariffs on Chinese tech imports, reigniting fears of a global slowdown. Analysts call this the “max pain week” with potential tests near $95,000 if momentum fails. Still, some traders maintain optimism.
As one X user put it, “Bitcoin under $100K? That’s just the reset before $1M.”
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Chart watchers note a double-top pattern near $124,000 and a pennant breakdown, suggesting potential downside to $74,000. However, historical trends offer a silver lining: November has been Bitcoin’s best-performing month over the past decade, averaging 30% gains.
Analysts like Bitwise CIO Matt Hougan expect a short-term dip followed by a year-end rebound, as institutions rebalance portfolios toward BTC and gold. Meanwhile, the end of quantitative tightening on December 1 could reopen liquidity spigots. With a possible U.S. government shutdown looming, some see Bitcoin as a hedge amid fiscal uncertainty.
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