Bitcoin briefly touched the $100,000 level during a market-wide sell-off. The decline forced the closure of over $1.6 billion in leveraged long positions within 24 hours. Analysts cite risk-averse sentiment and uncertainty over Federal Reserve rate policy as key drivers.

Bitcoin has dropped more than 20% from its recent peak, bringing the price close to $89,613—the average cost basis for U.S. spot Bitcoin ETF holders. Many retail investors who entered these products earlier this year now face potential losses if the cryptocurrency falls below this level. Weak market participation and lingering caution from October's liquidation event have contributed to the broader downturn.

Bitcoin dropped below $100,000 for the first time since June, reaching approximately $99,075 and triggering $2.02 billion in leveraged position liquidations across the cryptocurrency market. The decline occurred alongside a broader equity market selloff, with long positions accounting for the majority of liquidations.

Bitcoin could decline to approximately $72,000 within one to two months if it fails to hold support above $100,000, according to CryptoQuant. The firm cites weakening demand following the October 10 mass liquidation event and bearish market conditions as primary risk factors. Julio Moreno, CryptoQuant's head of research, noted that failure to sustain the $100,000 level increases the likelihood of a move toward $72,000 in that timeframe.

Julio Moreno, head of research at CryptoQuant, attributes Bitcoin's recent downward pressure to insufficient demand at elevated price points. The 30-day Apparent Demand metric has turned negative in recent weeks, signaling that buyers are not stepping in to match selling activity from long-term holders. Bitcoin was trading around $103,900 at the time of analysis, down 9% over the previous seven days.

Bitcoin fell to $103,700 as long-term holders sold approximately 400,000 BTC valued at $41.6 billion during October, according to CryptoQuant data. The selling pressure from wallets inactive for over six months, combined with whale distributions and weakening demand, pushed the asset toward the $100,000 level. Market demand has failed to keep pace with the ongoing distribution, with metrics showing negative growth over the past 30 days.

BlackRock will introduce the iShares Bitcoin ETF on the Australian Securities Exchange by mid-November 2025, charging a 0.39% management fee. The ETF wraps the U.S.-listed iShares Bitcoin Trust, providing Australian investors with regulated Bitcoin exposure without direct custody requirements. The launch enters a market where competing funds collectively manage between A$150 million and A$300 million in assets.

Paris-based semiconductor company Sequans Communications sold 970 Bitcoin from its treasury to cut outstanding debt from $189 million to $94.5 million. The firm now holds 2,264 BTC and maintains Bitcoin as its primary reserve asset. CEO Georges Karam said the move was a tactical decision to enhance financial flexibility rather than a shift away from the company's Bitcoin strategy.