Third Time the Charm? Why BTC $100K Break Matters

 Crypto.King
 
  Crypto.King
 
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Welcome to my crypto corner where I share my insights and experiences. Remember, it's your money on the line, so always do your own due diligence before diving in.
 

•  13 Nov 2025
 

$BTC just slipped below $100,000 for the third time this month, and the market getting that familiar pit-in-stomach feeling. Except this time, something off. The usual bounce isn't materializing, and the whispers are getting louder: maybe this isn't another quick dip to buy.

The backdrop tells the story. Risk-off sentiment is creeping across markets as investors rotate out of volatile assets into safer ground. Bitcoin and the broader crypto space rode a wave of leverage and momentum through October $126,000 peak, fueled by institutional excitement and retail FOMO. That engine sputtering now. When leverage unwinds, it doesn't ask permission it just cascades. Over half a billion dollars in leveraged positions got liquidated in the last 24 hours alone, mostly longs betting on continuation. If $BTC settles firmly below $100K, another layer of overleveraged positions could wash out, accelerating the decline.

The US demand signal is flashing warning lights. Coinbase premium index, which tracks the price gap between Coinbase and Binance, shows its longest negative streak since April correction. American institutional buyers, the rocket fuel behind previous rallies, are stepping back. Bitcoin ETFs are hemorrhaging billions in outflows. Mining stocks and crypto-adjacent equities are getting hammered. This isn't just $BTC wobbling it's the entire ecosystem losing conviction.

Then there's MicroStrategy, the poster child for corporate Bitcoin accumulation. The company holds 641,692 $BTC worth roughly $63.3 billion, yet its market cap recently dipped below $60 billion a rare discount that screams skepticism. The stock been decoupling from Bitcoin since summer, raising uncomfortable questions about whether the treasury strategy has hit its ceiling. Over 200 copycat "crypto treasury" companies are now scrambling toward less volatile assets, worried their own models might crack under sustained pressure.

The broader market isn't helping. Tech stocks are softening, volatility is climbing, and patience for speculative plays is thinning. What we're watching is a reset a deleveraging, a repricing of risk, a reality check after months of straight-up euphoria. Some analysts call it healthy, the foundation-building necessary for the next leg. Others see it as the opening act of something deeper.

Here's the thing, BTC hit $126K just weeks ago on pure optimism and momentum. Without fresh capital flowing in without new conviction from institutions or retail gravity takes over. Bitcoin remains a risk asset first, store-of-value second, and the market reminding us of that distinction right now. The psychological $100K level isn't just a number; it's a line in the sand that separates belief from doubt.

For anyone holding through this, the question isn't whether Bitcoin can recover it's done that before, spectacularly. The question is whether you're positioned for the volatility that comes with being early to a still-maturing asset class. The leverage shakeout might clear the field for steadier hands, or it might signal that the easy money been made for now.

Either way, this moment demands clarity over conviction. Watch the flows, track the leverage metrics, and respect what the market actually doing rather than what you hoped it would do. Bitcoin story isn't over, but this chapter's getting rewritten in real time.

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