Bitcoin Falls Below $105,000, Decentralized Financial Chaos and Dollar Strength Pressure
2025-11-04 08:00:17
Bitcoin continued its slide on Tuesday, extending a slump seen in October, as a stronger dollar and turmoil in the decentralized finance sector further weighed on the performance of the largest digital asset. Bitcoin fell as much as 2.5 per cent to $104,200, its lowest level in more than two weeks. Ethereum fell 3.4 per cent to below $3,500. The fall came after a historic sell-off three weeks ago, when leveraged positions in the crypto market were liquidated, losing billions of dollars. Since then, investors have been visibly cautious about whether Bitcoin can rebound. Market maker Keyrock said traders "remain reluctant to return to large-scale positions". The total amount of unpositioned squaring contracts for bitcoin perpetual futures is currently around $68 billion, down about 30% from its October high. CoinGlass data shows that selling pressure across the crypto market has led to the liquidation of about $1.20 billion of long positions in the past 24 hours alone. Meanwhile, investors have withdrawn more than $1.80 billion from bitcoin and ethereum spot ETFs in the past four trading days. (Jin Ten)
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