Crypto Markets Start November in the Red as Bitcoin Dips Below $108,000

Why It Matters

The price dip and heavy liquidations highlight renewed bearish pressure that could curb short‑term liquidity and dampen investor sentiment, while shrinking ETF inflows signal weakening institutional support for crypto assets.

Summary

Bitcoin slipped below $108,000 on Nov. 3, trading around $107,800—a 2% drop that pulled the total crypto market cap to $3.68 trillion, down roughly 3% in 24 hours, with the top ten assets each losing 1%‑6%. Over $539 million in leveraged positions were liquidated, chiefly in Ethereum ($149 million) and Bitcoin ($107 million). Spot Bitcoin ETFs recorded a net outflow of $799 million while Ethereum ETFs saw a modest $16 million inflow, underscoring a slowdown in institutional demand. Analysts note Bitcoin is consolidating in the $108k‑$110k range, eyeing resistance at $111k‑$113k and a year‑end target of $125k‑$130k amid broader macro‑economic headwinds.