Bitcoin News Today: Amid Crypto Panic, Founder's BTC Purchase Signals Long-Term Faith

The cryptocurrency market extended its decline for a third consecutive day on Nov. 14, with Bitcoin (BTC) falling below the critical $100,000 psychological support level and triggering a wave of panic among investors. The total market capitalization of cryptocurrencies dropped 3.8% to $3.42 trillion, erasing nearly $130 billion in value within 24 hours. Amid the turmoil, a prominent figure in the crypto space, the founder of Equation, announced he had purchased more BTC as a long-term investment, signaling confidence in the asset's eventual recovery despite the current bearish sentiment.

The downturn has been exacerbated by macroeconomic uncertainties lingering in the aftermath of the longest U.S. government shutdown, which delayed key economic data releases and froze regulatory functions critical to investor confidence. Over $1 billion in liquidations, primarily of long positions, further deepened the selloff. Bitcoin's intraday low of $97,117 marked a nearly 9.1% decline from its Nov. 11 high, while Ethereum (ETH) plummeted 8.6% to $3,176. Analysts at Glassnode attributed the prolonged bearish trend to a "consolidation limbo," where Bitcoin remains trapped between seller exhaustion and a dense supply cluster between $106,000 and $118,000, creating a natural resistance zone.

Despite the sharp selloff, the Equation founder's move to accumulate BTC underscores a belief in the asset's long-term resilience. "This is a buying opportunity for those with a multi-year horizon," the founder stated, though no details about the purchase size were disclosed. The Crypto Fear and Greed Index, a widely followed sentiment indicator, remained in "Extreme Fear" territory at 16, reflecting widespread caution among investors.

The bearish environment has also sparked renewed speculation about institutional-grade crypto products. The Canary XRPC ETF's record-breaking debut-with $58 million in first-day volume and $245 million in inflows- has reignited discussions about a potential BlackRock XRP ETF, fueled by Ripple's push into regulated markets. Meanwhile, decentralized science platforms like Ideosphere and Bio Protocol continue to attract funding, leveraging blockchain to create prediction markets for early-stage research.

In a separate development, Web3 gaming platform Kamirai announced its Kamirex Exchange, a high-performance decentralized exchange (DEX) designed to address liquidity gaps in Asian markets. The project's token generation event (TGE) has already drawn significant demand, highlighting a growing appetite for crypto projects with tangible utility.

As the market grapples with its latest downturn, the interplay of macroeconomic headwinds, institutional interest, and technological innovation will likely shape the trajectory of the crypto asset class in the coming months.