Bitcoin Price Tumbles Below $100K as Crypto Liquidations Top $1.3B
Bitcoin's price fell below $100,000 for the first time in three months on November 4, 2025, dropping over 6% amid broader market volatility. Factors contributing to the decline include large-scale sell-offs by Bitcoin whale investors, US Supreme Court's tariff powers case reigniting trade war fears, and four consecutive days of outflows from US spot Bitcoin ETFs, with $187 million withdrawn. The global crypto market saw over $1.3 billion in liquidations in 24 hours, with Bitcoin accounting for $445 million of these losses. Additionally, Sequans Communications sold 970 Bitcoin to redeem 50% of its convertible debt and improve its financial position. Technical analysis shows bearish momentum, with Bitcoin trading near $101,290 and risking a further drop toward key support zones at $98,000 and below, while resistance is noted near $114,500.
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Market Volatility and Bitcoin Decline
Market volatility intensified as Bitcoin whale investors continued large-scale sell-offs, contributing to the sharp price decline. On Nov. 4, 2025, Bitcoin's price tumbled below the $100,000 mark for the first time in three months, sliding more than 6%. This decline extended Bitcoin's losses to 20% from its October record highs near $124,500.
Crypto Market Liquidations Surge
Crypto market liquidations crossed $1.3 billion on Nov. 4, 2025, according to data from Coinglass. Over 339,448 traders were liquidated, with Bitcoin accounting for $445 million of those losses. This marks the steepest bull wipeout since August, signaling extreme bearish sentiment.
Sequans' Debt Reduction Using Bitcoin Holdings
Sequans Communications, a publicly listed semiconductor company, announced that it had redeemed 50% of its convertible debt using Bitcoin holdings. The firm sold 970 BTC, worth approximately $94.5 million, reducing its debt-to-NAV ratio from 55% to 39%. This strategic move aims to enhance financial flexibility and boost buyback capacity while preserving long-term treasury optionality.
Factors Driving Bitcoin's Decline
The broader risk-off tone in global markets intensified amid reports of the US Supreme Court hearing a case on Trump's powers on tariff enforcement, reigniting trade war fears. Additionally, US spot Bitcoin ETFs recorded their fourth consecutive day of outflows, with $187 million withdrawn on Nov. 3, 2025, signaling profit-taking activity and institutional reallocation of funds to short-term bonds.
Bitcoin Price Technical Breakdown
On the 12-hour BTC/USDT chart, Bitcoin traded near $101,290, down 3.15%, as selling pressure increased. Technical indicators, such as the Keltner Channel (KC) and the MACD, show ongoing bearish momentum. The KC bands indicate support near $103,321, with the price currently testing below that level. MACD line (-896.20) and signal line (-798.14) are in deep negative territory, reinforcing bears’ control and suggesting further declines before stabilization.
Potential Scenarios and Key Levels
If Bitcoin fails to hold above $100,000, it risks further declines toward $98,000 and $96,500, significant support zones from September. A sustained close below $96,000 could lead to a deeper correction around $92,000. Conversely, a rebound above the mid-Keltner resistance at $108,919 could set the next target at $114,500, aligning with the upper channel boundary.
Disclaimer
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