Overview
- Bitcoin fell more than 20% from its Oct. 6 record near $126,200 and briefly traded below $100,000 for the first time since June before a modest rebound by Nov. 6.
- A wave of forced unwinds erased more than $1.3 billion in leveraged positions within hours this week, following an early‑October liquidation estimated around $19 billion that set the tone for heightened volatility.
- Federal Reserve signals that a December rate cut is not assured weighed on risk appetite, and an October flare-up in U.S.–China trade tensions was cited as the trigger for the initial cascade.
- Bloomberg reported roughly $1.8 billion pulled from spot Bitcoin and Ethereum ETFs in recent days as interest in Bitcoin futures fell from October highs, and analysts flagged selling by large ‘whale’ holders.
- Market sentiment slid to ‘extreme fear’ with the Fear & Greed index near 20–21, while major altcoins, including Ethereum, logged steep monthly losses alongside Bitcoin’s slide.