Bitcoin hovers near $102K as liquidation flush and macro risks weigh heavily
Key takeaways
- Bitcoin has slipped drastically in the last 24 hours, bringing its price down to the $102k level. This marks a significant fall from recent highs and triggers a broad risk-off shift in crypto markets. As of 10:00 a.m., 5 November, BTC is trading at $101,666, down 4.92% in the last 24 hours.
- The entire crypto market cap has contracted, reflecting more of a slowdown in momentum than an acute crash. Traders are sidelined rather than aggressively buying.
- Altcoins such as ETH, SOL, and BNB have registered significant losses mirroring BTC’s downtrend.
- This brings the overall crypto market cap to $3.40 trillion, down 4.60% over the past day, signalling a broad-based retreat rather than an isolated Bitcoin issue.
- The Crypto Fear & Greed Index has slipped sharply to 20, indicating “Fear”, marking its lowest level since April 2025, signaling rising caution and fading bullish conviction.
- Over $1.1 billion in mostly long crypto positions were liquidated across major assets, underlining how fragile risk appetite has become in the space.
- Bitcoin has broken below its 200-day moving average, a key technical level; this raises risk of a deeper pullback toward the $94K–$95K band if support doesn’t hold.
- Despite weaker price action, long-term institutional accumulation continues behind the scenes, but the pace of fresh capital inflows has slowed markedly as macro-uncertainty looms.
Macro factors at play
- Policy and liquidity risk: The Federal Reserve signalled that it is unlikely to cut interest rates in the near term, which dampens risk-asset appetite and makes crypto less attractive.
- Strong Dollar and Safe-Haven pull: The U.S. dollar index remains elevated, and yields on U.S. Treasuries are climbing, which tends to weigh on high-beta assets like crypto.
- Global geopolitical/trade uncertainty: Renewed tensions in U.S.-China trade dynamics and broader geopolitical stress are increasing risk aversion among investors, hurting speculative flows into crypto.
- Institutional and fund flow signals: Large-scale selling by long-term holders combined with weak net inflows into spot crypto funds suggest the institutional support that fuelled earlier rallies has stalled.
- Technical weakness vs. macro pressure: Crypto is caught between holding major technical support levels and facing macro headwinds. The break below key moving averages raises the risk of a deeper correction if liquidity doesn’t improve.
Support and resistance
Support:
- $100,200 – first line of defence.
- $98,800 – stronger backup if price dips further.
- $95,500 – major structural support; a break below could signal a deeper correction.
Resistance:
- $103,500 – immediate ceiling after recent drop.
- $105,000 – next hurdle, also the 50% fibrosis retracement level.
- $106,400–$107,500 – stretch targets if momentum builds.
Bitcoin is trading below key resistance and approaching strong support zones. A rebound above $105K could trigger upside to $106K+; failure to hold support could open a slide toward $95K.
What to watch
- Spot Bitcoin ETF outflows continue: Since Oct. 29, spot BTC ETFs have seen approximately US $1.3 billion in net outflows, signalling that institutional buying is cooling.
- Rotation toward alt-chain infrastructure: While BTC funds are under pressure, newly launched spot Solana (SOL) ETFs have drawn positive capital ($200 million), suggesting a possible shift in investor focus.
- Leverage unwind and liquidations are accelerating: Over $400–500 million in long crypto positions were liquidated recently, increasing downside risk for leveraged traders and boosting volatility.
- Risk-asset backdrop remains fragile: A stronger U.S. dollar, elevated real yields, and policy uncertainty are pressuring crypto as some investors shift into safe havens like gold, reducing speculative exposure.
- Critical support levels in focus: With Bitcoin slipping toward the $100K–$105K zone, how it reacts here (bounce vs break) will likely set the tone for momentum across broader crypto markets.
Market outlook
The crypto market remains in a pause-and-watch phase, as traders weigh macro uncertainty and fading momentum. Bitcoin’s ability to hold the $103K–$107K support range will be critical in determining short-term direction. A decisive breakout above $111K–$115K, especially backed by strong ETF inflows or improving risk sentiment, could open the door for a rally toward $120K+. However, a sustained breakdown below current levels risks extending the correction into the low-$100Ks. In the next 24–72 hours, market sentiment will likely hinge on macro data releases, ETF flows, and liquidity shifts, rather than technical setups alone.
Top Gainers
Date: 5 Nov. 2025, 10:00 a.m.
Top Losers
Date: 5 Nov. 2025, 10:00 a.m.
