Bitcoin News Today: Market Splits: Bitcoin's Slide a Correction or Bearish Prelude?

Bitcoin slid below $100,000 on Nov. 4, 2025, marking its first retreat below the critical threshold in three months and triggering over $1.3 billion in crypto liquidations, according to a Yahoo Finance report. The selloff, which saw Bitcoin lose 6% in a single day, has intensified concerns about a broader market correction as institutional investors rotate capital amid macroeconomic uncertainty and ETF outflows, according to a Crypto Economy article. The decline has reignited debates among analysts about whether the move signals a temporary pullback or the start of a deeper bearish phase.

The price action follows a 20% drop from Bitcoin's October peak near $124,500, with the asset now testing support at $106,600—a level analysts view as pivotal, according to TradingView. Technical indicators paint a bearish picture: the MACD remains deep in negative territory, and the Keltner Channel's lower band at $103,321 is being challenged.

"The histogram's widening suggests further downside momentum before stabilization," said one strategist. Meanwhile, spot Bitcoin ETFs recorded their fourth consecutive day of outflows, with $187 million withdrawn on Nov. 3 alone. BlackRock's IBIT fund led the exodus, shedding $291 million on Oct. 30 amid a broader scandal at the firm's private credit arm.

Institutional activity has compounded the pressure. Sequans Communications redeemed half its convertible debt using 970 BTC ($94.5 million), while CleanSpark and American Bitcoin Corp added to their reserves, highlighting divergent strategies among corporate holders. Galaxy Digital revised its 2025 price target from $185,000 to $120,000, citing slowed institutional absorption and long-term holder distributions, according to Coinotag. Bitwise, however, remains bullish, forecasting a potential rebound to $150,000 if $100,000 support holds.

Market sentiment is further clouded by geopolitical risks. The U.S. Supreme Court's impending review of Trump-era tariff policies has spooked investors, with Wall Street executives warning of a 10% equity market correction. Cathie Wood of Ark Invest also cut her Bitcoin price target to $1.2 million by 2030, attributing the adjustment to the rapid rise of stablecoins in emerging markets. "Stablecoins are now fulfilling roles Bitcoin was once expected to play," she noted.

Despite the turmoil, some traders see a buying opportunity. A major strategy firm purchased 397 BTC for $45.6 million at $114,771, boosting its holdings to 641,205 BTC ($69 billion). "This phase is a natural 'back step' in ETF development," said Eric Balchunas, an ETF expert, adding that a pullback is "healthy" after SPY's 83% surge since late 2022, according to BeInCrypto.

Bitcoin's next move hinges on whether buyers defend the $100,000 level—a psychological barrier that has historically drawn institutional demand during dips. For now, the market remains in a state of flux, with analysts split on whether the current slump is a cyclical correction or a prelude to a more protracted downturn.