"Bitcoin price fell sharply today, sliding from an intraday high of $104,000 to $94,480, wiping out earlier gains and marking a decisive breakdown in price action. Twelve hours ago, the Bitcoin price hit above $100,000 and then consistently bled down from the upper $101,000s to lows of $94,480. Ethereum dropped below $3,100 at times and crypto stocks like Coinbase ($COIN) and Strategy ($MSTR) are trading in the red in pre-market trading."
"Futures funding have turned negative, roughly $550 million in positions have been liquidated as of November 13, and options traders rushed to buy protective puts ahead of a $4 billion expiry, reinforcing bearish momentum. Macro pressure is adding fuel: tech stocks are sliding, key U.S. economic data is delayed, and uncertainty around the Federal Reserve's rate path is elevating risk aversion."
Bitcoin fell from intraday highs above $100,000 to a low of $94,480, erasing earlier gains and breaching major technical supports including the 200-day moving average and key Fibonacci levels. Long-term holders sold roughly 815,000 BTC—nearly $79 billion—over 30 days while spot Bitcoin ETFs experienced hundreds of millions in daily outflows, reducing liquidity. Futures funding turned negative and about $550 million in positions were liquidated as of November 13, with options traders buying protective puts ahead of a $4 billion expiry. Macro weakness, sliding tech stocks, delayed U.S. data, and Fed rate uncertainty intensified market risk aversion and bearish momentum.
Read at Bitcoin Magazine
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