Bitcoin plunged below the $108,000 mark on November 3, 2025, dropping sharply to $107,944 during early Asian trading hours. The crypto heavyweight tumbled 1.88% to 2.85% over 24 hours, depending on who you ask. Not great timing after that weekend rally had pushed BTC above $111,000. So much for momentum.
Bitcoin tumbled below $108K, erasing weekend gains and dampening bullish sentiment as Asian markets opened.
The damage wasn’t just limited to price action. A staggering $463 million in leveraged positions got wiped out across crypto markets. Ouch. Long positions took the brunt of it – $405.27 million gone, compared to $57.97 million in shorts. Nearly 174,000 traders watched their positions evaporate. One unlucky soul saw their $8.43 million BTCUSDT position on Hyperliquid go poof. That’s gotta hurt.
Whales didn’t help matters. They dumped about $600 million worth of Bitcoin before the drop. Perfect timing, as always. Exchange data confirmed these big players were distributing coins like Halloween candy into the weekly close. Their sell-offs killed whatever bullish momentum remained after the weekend.
The Fed didn’t exactly come to the rescue either. Sure, they cut rates by 0.25%, but Powell and his crew sounded cautious about further cuts. Risk appetite took a hit. The dollar strengthened, and Bitcoin suffered. That month-long government shutdown isn’t helping either – no economic data means more uncertainty.
Bitcoin miners started taking profits too. More selling could push prices toward $105,585 or even $103,000. Not the direction hodlers want to see. The technical picture shows Bitcoin trapped in a $107,000-$116,000 range for the past three weeks. Market sentiment has deteriorated further, remaining firmly in the fear zone according to analysis. Investors who implemented tiered stop-loss orders before the drop likely preserved more of their capital during this volatile period.
President Trump’s restrictions on Nvidia’s chip sales to China didn’t help market sentiment either. The broader crypto market cap tumbled nearly 3% to $3.61 trillion. Ethereum was hit particularly hard with nearly 5% losses to $3,710, dragging down sentiment across altcoins.
For now, Bitcoin’s holding above $107,000. But with whales selling, miners taking profits, and macro headwinds blowing, that psychological $100,000 support might get another test soon. Buckle up.
