The crypto market is going through a tough time, extending its losses for a third straight day. Bitcoin (BTC), the largest and most well-known cryptocurrency, briefly dipped below the $100,000 mark, touching a low of $99,008 before bouncing back above that level. Currently, BTC is trading around $101,697, down over 2% in the last 24 hours. Overall, it has dropped more than 20% from its all-time high as investor fears grow over economic slowdowns and potential government shutdowns.

The broader crypto market isn’t doing any better. Ethereum (ETH), the second-largest cryptocurrency, dropped to $3,098 before recovering to about $3,316. It’s down roughly 5% in a day. Ripple (XRP) is down over 1%, Solana (SOL) has dropped 1.54% to $156, and Cardano (ADA) fell 1.5% to $0.531. Other major altcoins like Dogecoin (DOGE), Chainlink (LINK), Stellar (XLM), Hedera (HBAR), Litecoin (LTC), Toncoin (TON), and Polkadot (DOT) also saw red.

Some experts believe that crypto treasury companies — firms that hold large amounts of tokens and raise funds through stock sales or debt — are partly to blame for the price drop. Columbia Business School professor Omid Malekan said these companies have become exit vehicles for early investors, putting pressure on prices instead of building long-term value. He added that many of these firms have been raising millions of dollars but treat the process as a quick money-making scheme.

These companies often buy tokens using leverage — essentially borrowing money — which can make downturns worse when they sell to cover their debts. This behavior has caused massive token dumps, especially of tokens that were supposed to be locked or held long-term.

Economist Peter Schiff also voiced concerns, saying Bitcoin’s price is artificially supported by political and Wall Street interests rather than true demand. He warned that BTC is still a bubble that could burst and fall to zero.

Despite these warnings, some in the industry still see hope. Bitwise CIO Matt Hougan pointed out that retail investors — everyday people — are panicking, which might mean the market is nearing a bottom. He noted that while retail sentiment is low, institutional interest in crypto remains strong, especially in products like crypto ETFs.

Even so, crypto ETFs haven’t escaped the downturn. Spot Bitcoin ETFs saw $578 million in outflows on Tuesday — their biggest drop since October. Ethereum ETFs lost $219 million the same day, continuing a five-day streak of outflows totaling nearly $1 billion. Interestingly, Solana ETFs went against the trend, pulling in over $14 million in net inflows.

Vincent Liu from Kronos Research said these ETF outflows show that big investors are pulling back due to increasing economic uncertainty and rising risk levels.

Looking back at Bitcoin’s price movement this week: BTC fell nearly 4% on Monday to $106,557, then dropped further below $100K on Tuesday, hitting a low of $98,892 before climbing back to $101,468. On Wednesday, it dipped again to $98,950 before recovering slightly to $101,622.

The sharp correction officially pushed BTC into bear market territory for the first time since June 2025. The overall market has lost more than $1 trillion in value since early October. Analysts say this crash is driven more by excessive leverage than by real-world economic changes. According to CryptoQuant data, many short-term holders are selling at a loss — a sign of panic selling and market capitulation.

On November 4 alone, there were $1.4 billion in liquidations across crypto markets, mostly from traders who had bet on prices going up. Meanwhile, the U.S. Dollar has strengthened significantly against other currencies like the Euro, pushing investors toward safer assets like U.S. Treasuries.

Analyst Lacie Zhang suggested the crypto market might be going through a “recalibration phase.” She believes BTC could trade between $94,000 and $118,000 in the near term — with the lower range offering a chance for healthy correction.

Still, optimism is fading among many analysts. ShapeShift analyst Houston Morgan doesn’t expect BTC to go much higher than $125K by the end of 2025. Bitfinex analysts warned that unless BTC recovers above $116K soon, it could see further losses as long-term holders lose patience and start selling.

Last weekend started on a positive note for Bitcoin. It rose modestly on Friday and Saturday to hit $111,666. On Sunday, it spiked nearly 3% to reach $114,548 and climbed even further on Monday to an intraday high of $116,410. But from there, the momentum faded quickly. Selling returned on Tuesday and continued through Wednesday and Thursday, with BTC falling as low as $106,279 before bouncing slightly to close Friday at $108,555.

The weekend offered slight relief with small gains bringing BTC to around $110,536 by Sunday night. But Monday saw another sharp drop of nearly 4%, followed by another dip below $100K on Tuesday.

Ethereum (ETH) also faced intense selling this week. It fell close to the $3,000 mark on Tuesday but managed to recover to above $3,300 by midweek. However, institutional interest seems to be waning. ETH ETFs recorded five straight days of outflows totaling hundreds of millions of dollars. BlackRock’s ETHA ETF alone accounted for over $100 million in redemptions.

Crypto analyst Rachel Lucas called this shift in ETF flows a “recalibration,” as institutions reassess their positions amid uncertain macroeconomic conditions like delayed Fed rate cuts and tech sector volatility.

The Crypto Fear & Greed Index has plunged to 21 — deep into “Extreme Fear” territory — showing how nervous retail investors are right now. Still, some analysts argue that while short-term sentiment is weak, long-term bullish trends may still hold if macro conditions improve later this year.

Ethereum had a strong previous weekend with gains pushing it above $4,000 on Sunday before peaking at $4,266 Monday morning. But things turned quickly as ETH fell below key levels throughout the week, eventually dipping near $3,058 before recovering to current levels around $3,307.

Solana (SOL) had a similar rollercoaster ride. It started last week with sharp drops of nearly 12% and 7% across Monday and Tuesday before stabilizing around $156. Despite strong ETF inflows — including over $199 million into Bitwise’s SOL ETF — the token still dropped due to broader market weakness and a typical “buy the rumor, sell the news” reaction after its ETF launch.

DOGE also had a rough week after starting strong over the weekend. It dropped significantly through Monday and Tuesday and now trades around $0.163 after falling from highs near $0.205 just days earlier.

Celestia (TIA) followed suit with sharp drops throughout the week after peaking at around $1.08 last weekend. It is currently trading near $0.799 after multiple days of losses and minor recoveries.

In short: crypto markets are under pressure across the board due to high leverage levels, weakening retail sentiment, institutional pullbacks from ETFs, and macroeconomic uncertainty tied to U.S. interest rates and global market jitters.

Key phrases:
– Bitcoin under pressure
– Ethereum ETF outflows
– Crypto leverage liquidation
– Solana ETF inflows
– Retail vs institutional sentiment
– Market capitulation
– Bear market territory
– Altcoin sell-off
– Crypto price volatility
– Extreme Fear index