Bitcoin retreated to $89,605 after nearing $100,000, while major altcoins including Ethereum and Solana also declined. National Bank of Canada disclosed a $273 million position in MicroStrategy, representing 1.47 million shares, according to data from BitcoinTreasuries.NET. The investment provides the institution with indirect Bitcoin exposure through equity markets rather than direct cryptocurrency holdings.

Bitcoin is trading around $102,405 while struggling to hold above $100,000, with total cryptocurrency market capitalization falling to approximately $3.34 trillion. Bloomberg senior macro strategist Mike McGlone warns the current price level represents a critical juncture, noting that unusually low volatility may indicate underlying stress rather than stability. The correlation between Bitcoin and the S&P 500 remains above 0.53, reflecting continued alignment with traditional equity markets.

Bitcoin declined 3.8% to $110,063 on October 28 following Federal Reserve Chair Jerome Powell's indication that the central bank may pause rate cuts through 2025. Ethereum fell 3.6% to $3,853, while XRP dropped 4.1% to $2.51. Despite the selloff, Bitcoin ETFs recorded $202.48 million in net inflows, as Robert Kiyosaki warned of an approaching financial crisis.