Bitcoin Falls Below $100,000 as Risk Aversion Intensifies — ETFs and Companies Hold Back on Purchases
Cryptocurrency Bitcoin has fallen below the key level of $100,000, dropping even further afterward. The decline has sparked renewed concerns in the U.S. financial markets, driven by rising risk-off sentiment and selling in technology stocks.
On the 13th, Bitcoin dropped 3.9% at one point, reaching $97,956. Selling pressure has intensified, and since early October, more than $450 billion in market value has evaporated. Large investors—such as institutional funds, Bitcoin ETF managers, and corporate treasury departments—who previously supported the market are now stepping back. With the disappearance of strong buyers that fueled this year’s rally, the market is entering a more fragile phase.
Analysts from 10x Research say the crypto market has clearly shifted into a bearish phase. They highlight:
- Slower inflows into Bitcoin ETFs,
- Continued selling by long-term holders,
- Weak participation from retail investors.
Their models signaled a trend reversal in mid-October, and now point to worsening sentiment within the market. The next major support level is around $93,000.
Jake Ostrovskis, Head of OTC Trading at Wintermute, explained that Bitcoin is already under pressure from heavy spot selling and corporate hedging, while altcoins are being largely avoided. He added that when crypto lacks strong catalysts, it becomes more correlated with traditional assets—reflected clearly in the day’s price action.
Global market volatility is also rising again. Although U.S. stocks briefly gained after the government reopened partially shuttered agencies, that momentum has faded. Key U.S. economic data releases are delayed, and markets are watching whether the Federal Reserve will have justification to cut interest rates soon. This uncertainty is putting additional pressure on growth assets such as cryptocurrencies and tech stocks.
