Bitcoin News Today: Bitcoin's Crucible: Can It Become a True Store of Value?

The cryptocurrency market faced renewed turbulence in late October and early November 2025, with Bitcoin (BTC) tumbling below $100,000 for the first time in three months amid escalating macroeconomic uncertainties and shifting institutional sentiment. The price decline, which erased 20% of its value from October highs near $124,500, coincided with over $1.3 billion in liquidations across the crypto sector, according to a Yahoo report. Bitcoin's struggles were compounded by a 0.33% 24-hour gain to $110,507, a modest rebound that failed to offset broader bearish momentum, as a Coincodex update noted.

Market participants pointed to a confluence of factors: a $700 billion liquidity drain from the U.S. Treasury General Account (TGA) following a government shutdown, rising geopolitical tensions, and tepid ETF inflows. The TGA's ballooning balance to $1 trillion siphoned capital from risk assets, including crypto, exacerbating Bitcoin's downward spiral, according to a Yahoo analysis. Meanwhile, U.S. spot Bitcoin ETFs recorded a fourth consecutive day of outflows, totaling $187 million on Nov. 3, as institutional investors rotated into short-term bonds amid global uncertainties, the Yahoo report added.

Despite the bearish backdrop, some analysts detected early signs of stabilization. Stablecoin supply surged past $250 billion globally, with Binance alone seeing $1.6 billion in inflows over five days, suggesting investors were positioning for potential buying opportunities, according to a Coinotag report. The Stablecoin Supply Ratio (SSR) oscillator entered negative territory—a historical precursor to market bottoms—reinforcing optimism about a gradual recovery. "The current imbalance between stablecoin liquidity and Bitcoin's valuation mirrors patterns from 2023 and 2024, which preceded recoveries," noted CryptoQuant analysts.

Bitcoin miners, however, remained bullish on the long-term. Expansions at major operations, including Trump-linked American Bitcoin's $314 million ASIC purchase, signaled confidence in the "Bitcoin money vessel" concept, according to a Cointelegraph piece. The network's hash rate, a proxy for mining activity, hit a new peak, which analysts described as a "clear long-term bullish signal." Yet, short-term pain persisted: Bitcoin's dominance in the crypto market dipped to 58.48%, while 70% of coins in the top 200 lost value in the past 24 hours, Coincodex reported.

The bear case, however, remains intact. Vineet Budki of Sigma Capital warned that Bitcoin's 4-year cycle could see a 70% retracement during the next downturn, driven by retail investors' lack of understanding and poor user experience in stablecoin ecosystems, Budki cautioned in a TradingView summary. James Check, a Bitcoin on-chain analyst, highlighted accelerating selling pressure from older holders, with the average age of sold coins rising to 100 days from 30 days in previous cycles, a point made in a BeInCrypto article.

Looking ahead, analysts at Bitfinex pinned hopes on Fed easing and renewed ETF inflows to push Bitcoin toward $140,000 by November, Cointelegraph reported. However, risks loomed large, including Trump's proposed tariffs and geopolitical volatility. "This is a pivotal moment," said one analyst. "The market is testing whether Bitcoin can evolve from a speculative asset to a true store of value."