Bitcoin Drops Below 100k As Risk-Off Sentiment Sweeps Across Crypto
Bitcoin and Ethereum retreated sharply on Nov 4 as profit-taking, risk-off sentiment and forced liquidations weighed on the broader cryptocurrency market.
At the time of writing, Bitcoin was trading at US$99,030, down sharply from recent highs, while Ethereum slipped to US$3,184 amid renewed market caution.
Dealers said the pullback came after a strong rally last week, with investors locking in gains ahead of key macroeconomic events and central bank speeches that could influence global interest rate expectations.
Data from derivatives exchanges showed a wave of long-position liquidations in both Bitcoin and Ethereum futures, amplifying the decline as leveraged traders exited their positions.
As Bitcoin briefly dipped…
