Bitcoin Falls 10% in a Week, Testing $100,000 Amid October Deleveraging and Fed Uncertainty

Bitcoin opened November on a softer note, extending a recent downswing that market observers described as continuing October’s volatility. New data indicates a roughly 10% weekly decline, with prices testing the $100,000 handle—the weakest 30-day performance versus the Nasdaq since July 2024, according to K33 analytics and The Block‘s assessment.

Analysts attribute the pressure to liquidity constraints and risk-off sentiment, amplified by October’s historic deleveraging event—the largest-ever crypto liquidation event, reportedly exceeding $20 billion. The mood among participants remains cautious, as long-term holders continue to liquidate into rallies, dampening buyer conviction.

With Bitcoin at a potential turning point roughly 25 days after the deleveraging event, near-term momentum remains fragile. The latest FOMC decision showed a 25-basis-point cut, but policy ambiguity surrounding the US government shutdown tempered the positives. K33 derivatives indicate a mixed structure, combining signs of potential bottoming with early downtrend characteristics.