Ether, Solana, XRP Drop 8% in Fresh Move Lower, But Bitcoin Could See a Bullish November
Bitcoin extended its recent weakness, falling below $105,000 on Tuesday after logging its poorest October performance in a decade. The drop deepened as major altcoins also came under pressure, reflecting cautious sentiment across crypto markets. The decline followed last week’s Federal Reserve rate cut, with Chair Jerome Powell’s measured comments dampening risk appetite rather than sparking renewed momentum.
Despite the near-term softness, analysts note that November has historically been a strong month for Bitcoin. Seasonal tailwinds and potential relief in funding conditions could support a rebound—if key support levels continue to hold. Market watchers are now looking for signs of renewed inflows or technical stabilization that could set the stage for another year-end rally in the world’s largest cryptocurrency.
Markets: Altcoins Lead Losses as BTC Tests Support
Bitcoin fell about 3% intraday, briefly undercutting $105k before stabilizing; ether dropped ~6% near $3,630 and solana ~8–10% around the high-$150s. XRP and BNB also retreated alongside DOGE and ADA. The total crypto market cap hovered near $3.6 trillion as 24 hour liquidations topped ~$1 billion, pointing to defensive positioning and thinned liquidity. crypto.news
“Bitcoin’s repeated tests of its 200-day moving average suggest fragile support…Still, if the structure mirrors April’s pattern, buyers could soon find footing,” said Alex Kuptsikevich, chief market analyst at FxPro.
I see it more as a healthy reset than a structural reversal…Long-term holders are still accumulating, and ETF flows remain steady,” said Rachel Lin, CEO of SynFutures.
Macro: Fed Cut, Cautious Tone
The Fed lowered the target range by 25 bps on Oct. 29, citing elevated uncertainty. Powell emphasized that a December move is “not guaranteed,” which tempered risk appetite. Markets also watched elevated usage of the Fed’s liquidity tools around month-end, including a report of a $29.4B repo operation and record take-up at the Standing Repo Facility (SRF). While not a return to QE, these signals underscored sensitivity to funding conditions.
Seasonality: Why Bitcoin could see a bullish November
Historically, November has been one of bitcoin’s better months, with multiple positive finishes over the past dozen years. Analysts caution that averages are skewed by outliers; the median November gain is far lower than the mean, and dispersion is wide. Seasonality is context not a trading signal but it can bolster sentiment if technicals stabilize.
Technical Focus: Bitcoin could see a bullish November if…
BTC reclaims prior resistance levels and defends the 200-day average.
Funding normalizes without a spike in forced liquidations.
Macro yields, dollar doesn’t tighten financial conditions abruptly.
ETF flows remain net positive, offsetting miner and whale supply.
(Data points above reflect current market structure and public dashboards.)
Liquidity Watch and Positioning
Month-end SRF usage hit a record, and reports cited a sizable repo operation early this week, signaling that policymakers remain attentive to liquidity stress. In crypto, thin order books over weekends and the unwind of leveraged longs amplified each downside leg. If liquidity stabilizes and realized volatility cools, risk appetite can recover into mid-month.
Context & Analysis
The backdrop blends constructive microstructure (steady ETF demand, resilient long-term holder behavior) with macro caution (policy path uncertainty, funding stress pockets). The path for Bitcoin could see a bullish November likely hinges on whether financial conditions ease enough for risk to retest prior ranges without triggering another wave of liquidations.
Conclusion
Altcoins led Tuesday’s decline as Bitcoin tested key support levels, underscoring fragile sentiment across digital assets. The Federal Reserve’s cautious stance on December policy moves, combined with tighter funding conditions, added to short-term uncertainty and price volatility.
Still, market observers note that if liquidity stabilizes and technical indicators turn constructive, Bitcoin’s historical November strength could reassert itself. Seasonal trends often favor upside momentum late in the year, though current macro risks suggest any rally could unfold with wider-than-usual swings. Traders remain focused on whether key supports can anchor confidence heading into the month’s second half.
FAQs
Q : Why did crypto fall today?
A : Risk appetite cooled after the Fed’s cautious tone, while thin liquidity and leveraged unwinds amplified the move.
Q : Is November usually strong for bitcoin?
A : Often, yes historically one of the stronger months, though results vary and the average is skewed by outliers.
Q : Could funding conditions derail a rebound?
A : Yes. Elevated repo/SRF usage highlights sensitivity to liquidity; tighter conditions can pressure crypto.
Q : Where is bitcoin trading now?
A : Around the $104k–$108k band after dipping below $105k earlier Tuesday.
Q : What would confirm that Bitcoin could see a bullish November?
A : A sustained reclaim of resistance with calmer liquidations and steady ETF inflows would strengthen the case.
Q : Did the Fed promise another cut in December?
A : No. Powell said a December move isn’t guaranteed.
Q : How much was liquidated in the last day?
A : Roughly ~$1B across majors, per market dashboards.
Facts
Event
Broad crypto sell-off; BTC dips under $105k while altcoins drop 6–10%Date/Time
2025-11-04T13:57:30+05:00Entities
Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, BNB; U.S. Federal Reserve; Chair Jerome PowellFigures
BTC intraday low near $103.8k; total market cap ≈ $3.6T; 24h liquidations ≈ $1.0B; Fed cut 25 bps (Oct. 29, 2025) crypto.news+1Quotes
“December’s cut isn’t guaranteed” summary of Powell’s guidance (FOMC) ReutersSources
Federal Reserve FOMC Statement (federalreserve.gov), Reuters Fed coverage (reuters.com)