Mounting Pressure Pushes Bitcoin Under a Key Level
Bitcoin tumbled beneath the crucial $100,000 mark on Coinbase Global, marking its first dip below that threshold since June 2025. The sharp decline erased much of the year’s earlier gains, fueled by intense selling from whales and retail investors alike. The slide—over 20% down from October’s peak near $126,000—has stirred concerns across the crypto community.
The sell-off stems from several forces working in tandem: large-scale liquidations of leveraged long positions, profit-taking by institutional traders, and persistent selling by major holders. On-chain data reveal significant wallet movements tied to Coinbase and other exchanges, suggesting that even long-term investors are opting to cash out amid market uncertainty.
Cooling ETF Flows Deepen the Downturn
Another factor weighing on sentiment is the slowdown in Bitcoin ETF inflows. Once seen as a cornerstone of institutional demand, ETF activity has waned notably. One report cited a single-day outflow of roughly $470 million, highlighting how rapidly confidence can evaporate when prices falter.
The broader mood has shifted as well. Investors who once anticipated a strong November rebound are now bracing for a drawn-out consolidation—or potentially a deeper correction—if key support levels fail to hold.
Coinbase’s Symbolic Role in the Decline
That the breakdown occurred on Coinbase carries added weight. The platform serves as a key gauge of U.S. crypto sentiment, reflecting both retail enthusiasm and institutional conviction. A steep price decline there raises fresh questions about structural demand and the sustainability of the midyear rally.
If selling momentum continues, analysts warn Bitcoin could revisit the $90,000 range, where the next major support might form. The effects will likely ripple across crypto-related equities, derivatives markets, and fund flows, especially if sentiment remains fragile.
Still, a turnaround is not off the table. Historically, November has delivered rebounds for Bitcoin, particularly when macroeconomic conditions or policy news turn favorable. All eyes now remain on whether the $100,000 level holds—and whether Coinbase’s wallet data signal renewed confidence or further capitulation.
