Bitcoin Dives Below $100K for Third Time This Month as Crypto Liquidations Top $500 Million

Bitcoin fell below the $100,000 mark for the third time in November, influenced by investor sell-offs amid economic concerns. The cryptocurrency's price dropped to approximately $99,611 after a decline exceeding 2% in 24 hours. This decline continues a trend that began on November 4, following previous falls and a record high of $126,080 in October. Analysts, however, remain optimistic about medium- to long-term prospects, emphasizing that while short-term volatility persists, institutional participation and whale activity have decreased. Over $2.6 billion has been withdrawn from U.S. Bitcoin and Ethereum ETFs recently, exacerbating downward pressure on both assets. Despite the sell-off, some market participants believe Bitcoin remains in an upward trend, with recurring support at higher lows, suggesting potential for recovery amidst ongoing liquidations, which recently reached $501 million, with Bitcoin alone accounting for about $165 million.

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