Overview
- Bitcoin fell to roughly $98,000 during U.S. trading, its third drop below $100,000 this month after an overnight bounce faded.
- Coinglass data showed about $600 million to $750 million in 24-hour liquidations, including hourly waves near $190 million to $220 million driven largely by longs.
- U.S. spot Bitcoin ETFs recorded around $278 million in net outflows on Nov. 12, pushing monthly redemptions toward $1 billion as Ethereum funds also saw withdrawals.
- Risk assets sold off as traders reduced expectations for a December Fed rate cut, and Wintermute reported Bitcoin now falls harder on Nasdaq declines than it rises on rallies.
- Analysts highlighted support near $98,000 and the $100,000 battleground with resistance around $106,000 to $107,000, while sentiment gauges slid into fear and extreme fear.