Why did Bitcoin Crash Below $108K? Here are Apparent Reasons...
The crypto market entered November under heavy selling pressure as $Bitcoin briefly dipped below $108,000, sparking renewed fear among traders. According to on-chain data, an insider — the same trader who shorted before the last flash crash — has started selling again, dumping over 12,500 BTC worth roughly $1.4 billion in just a few hours.
While many point fingers at political headlines or social sentiment shifts, the data suggests that $BTC is still consolidating, not collapsing — yet.
Insider Activity Raises Alarms
Market watchers were quick to notice massive sell orders appearing in short intervals. The insider responsible had a 100% win rate in past crashes, and his reappearance has reignited fears of another major correction.
His wallet activity shows consistent outflows to exchanges, suggesting active selling. Given Bitcoin’s current liquidity levels, even a few billion dollars in sell pressure can create sharp volatility. However, analysts argue that such moves often occur ahead of market resets — or even reversals — once weak hands are flushed out.
Trump’s 60-Minutes Appearance: A Misplaced Blame
Some attributed the dip to President Trump’s recent appearance on 60 Minutes, where he spoke at length about economic recovery but mentioned cryptocurrencies only briefly.
This disappointed sections of Gen-Z investors, who expected pro-crypto remarks and reportedly reacted by selling holdings.
However, experts quickly debunked this theory — Gen-Z’s total market share in crypto is too small to cause such a widespread sell-off.
At most, their actions could have triggered a snowball effect — a chain reaction where small-scale panic selling cascades into larger sell orders, leading to algorithmic and institutional sell triggers. Once that momentum builds, it can exaggerate market declines far beyond the initial catalyst.
Is Bitcoin Price Crashing?
According to the BTCUSD chart, Bitcoin is currently hovering around $107,400, a key support level. Despite the drop, this support remains intact — indicating consolidation rather than a full-scale breakdown.
BTC/USD 1-day chart - TradingView
- Immediate support: $107,400
- Major resistance: $110,800 – $111,150
- RSI (Relative Strength Index): 40.78 — suggesting near oversold territory
- MACD: Showing minor bearish momentum but flattening, hinting that sellers may be exhausting
As long as Bitcoin holds above $107K, it remains in a consolidation phase.
If this level is broken, however, the next major stop could be $100,000, where large buying orders are expected to re-emerge.
Top 10 Cryptos — 24-Hour Performance
| 1 | Bitcoin ($BTC) | BTC | -2.90% |
| 2 | Ethereum ($ETH) | ETH | -4.00% |
| 3 | Tether ($USDT) | USDT | 0.00% |
| 4 | $XRP | XRP | -4.72% |
| 5 | $BNB | BNB | -6.12% |
| 6 | Solana ($SOL) | SOL | -5.61% |
| 7 | $USDC | USDC | +0.01% |
| 8 | TRON ($TRX) | TRX | -0.35% |
| 9 | Dogecoin ($DOGE) | DOGE | -6.98% |
| 10 | Cardano ($ADA) | ADA | -5.53% |
All major cryptocurrencies are showing red candles, confirming that the Bitcoin dump has rippled across the entire market.
Bitcoin Price Prediction: Will Bitcoin Recover?
Despite the panic, Bitcoin’s current structure still shows resilience. Traders are closely watching the $107K zone, as a bounce from here could reignite momentum toward $111K–$114K. But if selling continues and the psychological $100K level is tested, the market could enter a deeper correction phase.
For now, consolidation remains the most probable scenario — and smart money appears to be waiting rather than exiting.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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