Bitcoin (BTC) slid to around $105,500, down more than 4 % on the day and about 8 % over the week marking a significant retracement of the bounce from the October crash. At the same time, major altcoins such as Ethereum (ETH), Solana (SOL), BNB and Cardano (ADA) fell in the 6-10 % range. More importantly, over $1 billion in leveraged positions across digital assets were liquidated during the sell-off.
What’s Driving the Decline?
After the crash in October, the rebound had largely been undone and the market is retesting previous lows. The $106K region has become a key barrier from a technical perspective. Note to mention the liquidation of leveraged positions have amplify moves. It caused sharp declines in altcoins which reflect the broader risk-off sentiment.
All I know is Bitcoin likely to face a choppy November. November historically being one of Bitcoin’s better months. All I see is the exhaustion suggests that the bounce off October’s lows may have been less about renewed optimism and more about short-term positioning. With liquidity thin and sentiment fragile, even small waves of selling have been enough to tip the market over. The larger economic picture isn’t doing Bitcoin any favors. Inflation remains sticky, interest-rate policy uncertain, and geopolitical risks high. These forces continue to dampen appetite for speculative assets. Other safe havens like precious metals especially Silver have taken it on the chin too. I seriously considering my portfolio heading into years end... Be safe out there and don't forget to take gains!