SINGAPORE — November 13, 2025 — Bitcoin’s downward momentum intensified on Thursday, falling deeper below the $100,000 mark amid renewed global risk aversion and a sell-off in technology stocks that rattled financial markets.
The digital asset slipped as much as 3.9% to $97,956, erasing all year-to-date gains and marking its weakest level since May. The latest decline has wiped out more than $450 billion in total crypto market value since early October, signaling that the sector’s prolonged correction may not yet be over.
Institutional Demand Retreats As Volatility Returns
Market analysts note that large institutional participants — once a stabilizing force — have stepped back from accumulation. ETF allocators, corporate treasuries, and hedge funds have sharply reduced exposure, draining liquidity from the market and amplifying volatility.
“Support from institutional investors has thinned dramatically,” said David Pan of Bloomberg. “This absence of deep-pocketed buyers removes a critical layer of confidence, especially after months of steady inflows earlier this year.”
The retreat coincides with a broader risk-off sentiment across Wall Street, where weak earnings from U.S. tech giants triggered renewed selling pressure on speculative assets, including digital currencies.
Bitcoin’s Market Value Drops $450 Billion Since October
Bitcoin’s total capitalization has declined by over $450 billion since its October peak above $126,000. Traders attribute much of the recent pain to the unwinding of leveraged positions and fading optimism around spot-ETF inflows.
Altcoins mirrored the losses, with Ethereum, Solana, and Avalanche each falling between 4% and 7%, extending a two-week slide that has erased billions from decentralized-finance markets.
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Analysts Warn Of Fragile Market Structure
Despite signs of oversold conditions, technical analysts caution that the market remains structurally fragile. Support levels near $95,000 are now in focus, with any sustained break lower potentially triggering deeper corrections toward $90,000.
“Momentum indicators still favor sellers,” said CryptoQuant strategist Jun Park. “The absence of large-scale accumulation leaves Bitcoin vulnerable to further downside before stability returns.”
Long-Term Confidence Faces Test Amid ETF Outflows
Spot Bitcoin ETFs — which helped fuel record highs in early 2025 — have experienced steady outflows over the past two weeks, reversing earlier optimism about mainstream adoption. BlackRock’s IBIT fund and Fidelity’s FBTC both reported their lowest net inflows since spring, underscoring waning investor appetite.
Industry observers say renewed faith in the asset class will hinge on macroeconomic clarity, improved liquidity, and potential regulatory relief in the United States.
Outlook: Volatility To Persist Into Year-End
While some long-term holders continue to accumulate small positions, analysts expect continued price turbulence through the end of the year. A sustained recovery, they note, will require renewed participation from both institutional and retail investors.
“The current environment reflects a classic bear-market reset,” said Pan. “Until new catalysts emerge, Bitcoin may struggle to reclaim the six-figure threshold.”
For now, the world’s largest cryptocurrency remains locked in a fragile consolidation, with investors watching whether $95,000 holds as the next line of defense in an increasingly uncertain digital-asset landscape.
