The world of crypto started this week on the back foot. Bitcoin (BTC) dropped by around 2% in early Asian trading, slipping below the $107,000 mark as selling pressure carried over from a rough October. Cryptonews
What’s going on
Several interlocking forces appear to be weighing on Bitcoin and the broader digital-asset market:
- One major signal: for the first time in seven months, institutional buying of Bitcoin has fallen behind newly issued coins — a warning sign that large-scale buyers are stepping back. Cryptonews+1
- October’s shake-out still echoes. A big wave of liquidations earlier in the month drained risk capital and left the market vulnerable. Fortune India+1
- On the macro front, the Federal Reserve is signaling that a December interest-rate cut is no sure thing — a step back for hope of easy money fueling risk assets. Cryptonews
The numbers in focus
- BTC slid below $107,000 in early Asia trading. Cryptonews+1
- The overall crypto market cap is under pressure, with many altcoins underperforming as sentiment weakens. Cryptonews+1
- Long-term signals: While some long-term holders are accumulating, the near-term technicals and flows look shaky. Trading News+1
What it means
This is not necessarily a crash, but it is a caution phase. With institutional demand softening, macro uncertainty rising, and October’s excesses still being digested, the market appears to be in consolidation rather than runaway rally mode. Traders who piled in during the hype now face slower momentum and more headwinds.
Support zones near $106,000-$107,000 for Bitcoin are now key. If those fail, the next levels in trouble could be closer to $103,000 or lower. On the flip side, if sentiment improves — say via clear rate-cut signals or major fund flows — a rebound could kick off.
What should investors watch
- Flow data: Are Bitcoin and major exchanges seeing net inflows or outflows?
- Macro updates: Anything from the Fed, U.S. jobs data, or global liquidity will matter.
- Altcoin health: As Bitcoin weakens, altcoins typically suffer more — a sign of risk appetite fading.
- Technical levels: If Bitcoin reclaims $110K+ with conviction, it could change the tone.