{"id":5467,"date":"2025-11-13T21:16:40","date_gmt":"2025-11-13T21:16:40","guid":{"rendered":"https:\/\/digkrypton.com\/index.php\/2025\/11\/13\/bitcoin-price-crashes-below-98000-close-to-six-month-lows\/"},"modified":"2025-11-13T21:16:40","modified_gmt":"2025-11-13T21:16:40","slug":"bitcoin-price-crashes-below-98000-close-to-six-month-lows","status":"publish","type":"post","link":"https:\/\/digkrypton.com\/index.php\/2025\/11\/13\/bitcoin-price-crashes-below-98000-close-to-six-month-lows\/","title":{"rendered":"Bitcoin Price Crashes Below $98,000 Close to Six-Month Lows"},"content":{"rendered":"

Bitcoin Magazine<\/a><\/p>\n

Bitcoin Price Crashes Below $98,000 Close to Six-Month Lows<\/a><\/p>\n

<\/div>\n

Bitcoin price fell sharply today, sliding from an intraday high of $104,000 to $98,113, wiping out earlier gains and marking a decisive breakdown in price action.\u00a0<\/p>\n

Starting in morning trading, the Bitcoin price<\/a> consistently bled down from the upper $102,000s to lows of $97,870.<\/p>\n

According to Bitcoin Magazine Pro data, the last time Bitcoin price was near these levels (sub $98,000) was in early May \u2014 roughly May 8 depending on time zone. Bitcoin price vaulted above $100,000 for over 40 days after that before dipping back to $98,000 in late June. <\/p>\n

One possible reason why the bitcoin price is long-term holders that are unloading at record levels. Data from CryptoQuant shows<\/a> they\u2019ve sold about 815,000 BTC in 30 days \u2014 the most since early 2024 \u2014 while spot and ETF demand weaken. Profit-taking dominates, with $3 billion in realized gains on Nov. 7 alone.\u00a0<\/p>\n

Institutional buying has also dropped below daily mining supply, intensifying sell pressure. Prices hover near the crucial 365-day moving average around $102,000, and failure to hold it could trigger deeper losses, according to Bitcoin Magazine Pro<\/em> analysis.\u00a0<\/p>\n

Analysts at Bitfinex say the current bitcoin pullback mirrors past mid-cycle retracements, with the drop from October\u2019s high matching the typical 22% drawdown seen throughout the 2023\u20132025 bull market. <\/p>\n

\u201cIt is important to note too, that even at the $100,000 level, approximately 72 percent of the total BTC supply remains in profit,\u201d Bitfinex analysts wrote to Bitcoin Magazine.<\/em> They believe a short relief rally is likely but that a sustained recovery will require fresh demand.<\/p>\n

According to The Block, JPMorgan analysts say<\/a> bitcoin price\u2019s current estimated production cost of $94,000 acts as a historical price floor, suggesting limited downside.<\/p>\n

The analysts believe that rising network difficulty has pushed production costs higher, keeping bitcoin\u2019s price-to-cost ratio near historical lows. The analysts maintain a bold 6\u201312 month upside projection of about $170,000.<\/p>\n

All this comes as the U.S. government has reopened after a record 43-day shutdown<\/a>, the longest in history, following President Trump\u2019s signing of a funding bill late Wednesday.\u00a0<\/p>\n

While federal operations are resuming, recovery will be slow. Federal workers still await backpay, and air travel delays may persist.\u00a0<\/p>\n

Timot Lamarre, director of market research at Unchained, described bitcoin to Bitcoin Magazine<\/em> as a \u201ccanary-in-the-coal-mine for liquidity drying up in the market.\u201d He notes that the recent government shutdown caused the Treasury General Account to swell, absorbing liquidity, and adds that with the government reopening, \u201cmore liquidity injected into the system will benefit bitcoin\u2019s dollar price in the near term.\u201d<\/p>\n

Agencies like the IRS face major backlogs<\/a>, and national parks struggle to recover lost revenue. The short-term funding measure only extends through January 30, leaving the threat of another shutdown looming.\u00a0<\/p>\n

The return to normalcy will take time as the effects of the prolonged closure continue to ripple through the economy and public services.<\/p>\n

Bitcoin price roared into October as the government shutdown began, surging to new all-time highs<\/a> above $126,000. But the excitement quickly gave way to turbulence \u2014 the bitcoin price swung wildly<\/a> through the rest of October and into November. <\/p>\n

At the time of writing, Bitcoin\u2019s price is at $98,470. <\/p>\n

Despite an overall bullish mood in the market, the bitcoin price has continued to slide deeper into the month.<\/p>\n

Bitcoin price and Nasdaq is the correlation that only hurts: Wintermute<\/h2>\n

Bitcoin is still closely tied to the Nasdaq, but it\u2019s showing an unusual pattern: it reacts more strongly to stock market drops than it does to gains, according to a recent report<\/a> from Wintermute.<\/p>\n

This \u201cnegative skew\u201d\u2014falling harder on bad equity days than rising on good ones\u2014is typically seen in bear markets, not when BTC is near all-time highs. It suggests that investors are somewhat fatigued, not euphoric.<\/p>\n

Two main factors are driving this. First, attention and capital have shifted toward equities in 2025. Big tech and Nasdaq growth stocks are soaking up much of the risk appetite that might have flowed into crypto. Bitcoin moves with the market when things go wrong but doesn\u2019t get the same lift when optimism returns, acting like a high-beta tail of macro risk.<\/p>\n

Second, liquidity in crypto is thinner than before. Stablecoin issuance has stalled, ETF inflows have slowed, and exchange depth hasn\u2019t fully recovered. This makes downside moves more pronounced and widens the performance gap.<\/p>\n

That said, BTC is holding up remarkably well, according to Wintermute. Even with this persistent downside bias, it\u2019s less than 20% below its all-time high. The pattern is unusual near tops \u2014 it usually shows up near bottoms \u2014 but it also reflects Bitcoin\u2019s growing maturity as a macro asset.<\/p>\n

This post Bitcoin Price Crashes Below $98,000 Close to Six-Month Lows<\/a> first appeared on Bitcoin Magazine<\/a> and is written by Micah Zimmerman<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin Magazine Bitcoin Price Crashes Below $98,000 Close to Six-Month Lows Bitcoin price fell sharply today, sliding from an intraday high of $104,000 to $98,113, wiping out earlier gains and marking a decisive breakdown in price action.\u00a0 Starting in morning trading, the Bitcoin price consistently bled down from the upper $102,000s to lows of $97,870. […]<\/p>\n","protected":false},"author":0,"featured_media":5468,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-5467","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin"},"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/5467","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=5467"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/5467\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media\/5468"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=5467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=5467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=5467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}