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After Record Highs, the Market Hits Pause
Just when Bitcoin seemed unstoppable after October’s rally, the crypto giant slipped below $108,000 on November 3, 2025, erasing part of its recent gains and wiping out about $463 million in long positions. The total crypto market cap fell 3.5 percent to $3.69 trillion, with many traders calling it a typical “Uptober hangover” before a possible rebound.
Bitcoin closed at $107,896, down 2.9 percent in 24 hours, after touching a low of $106,786. Ethereum dropped 4.5 percent to $3,713, while altcoins like Solana, XRP, and Dogecoin also slipped. Over the weekend, whales reportedly sold more than $600 million, triggering a wave of liquidations.
A Correction or a Buying Opportunity?
Analysts remain divided. Some see this as a healthy correction after a strong rally, while others warn of lingering volatility. Total liquidations hit $539 million, with $107 million in Bitcoin longs wiped out. “This is textbook profit-taking after a strong month,” said analyst Elena Kovacs. “The fundamentals haven’t changed.”
Macro Pressure Adds to the Mix
The pullback also reflects broader market caution. Investors are watching the Federal Reserve closely, expecting more rate cuts after signs of cooling inflation and slower job growth. Risk assets softened across the board, with tech stocks and crypto both taking small hits. “Bitcoin still reacts to macro swings like a high-growth stock,” said Julian Ng of CryptoQuant.
Why Bulls Are Still Confident
Despite the dip, long-term holders remain optimistic. Historically, Bitcoin has averaged a 42 percent price increase in November following strong Octobers. On-chain data shows coins moving off exchanges, miner activity staying steady, and hash rates near record highs. “Corrections like this reward patience,” noted analyst Rosa Bennett.
Looking Ahead: November’s Setup
Traders are now watching the U.S. elections and inflation data for the next move. If sentiment steadies, Bitcoin could retest $115,000 in the coming weeks. For now, the market looks stable above the $105,000 support range, suggesting this pullback may be less of a crash and more of a reset.
Bottom Line
The sell-off may have startled traders, but it hasn’t broken the trend. With rates easing and institutional demand rising, Bitcoin’s foundation looks firm. The “Uptober hangover” might just be the pause before the next wave higher.
