Why Is Crypto Down Today? – November 4, 2025

The company intends to offer 3.5 million shares of its 10% Series A Perpetual Preferred Stock, with the proceeds earmarked for general corporate use and additional Bitcoin acquisitions.

The announcement coincides with Strategy’s latest Bitcoin purchase of 397 BTC worth $45.6 million made between October 27th and November 2nd.

Bitcoin Slips Under $107K as ETF Outflows and Whale Selling Pressure Market

Bitcoin dropped 2% in early Asian trading, slipping below $107,000 amid continued ETF flows and profits from large holders.

The move extended the market’s cautious tone since the end of October’s $19 billion plunge, with traders seeing the pullback as consolidation after a volatile deal.

Data on the chain shows that institutional accumulation has slowed, with inflows falling below new Bitcoin issuance for the first time in seven months, according to Capriole Investments founder Charles Edwards.

The change reflected a broader risk-on tone as stocks advanced, led by technology gains and Amazon’s OpenAI deal, while the dollar strengthened on reduced expectations for rapid US tax cuts.

Analysts say the October correction has cleared excessive leverage, leaving the market in a rebuilding phase. Rachel Lin, CEO of SynFutures noted that long-term holders remain steadfast and the exchange rate persists, which is typically a positive sign.

For now, the market is expected to trade sideways as traders watch ETF flows and Fed signals, with a softer inflation picture potentially reviving buying momentum later this month.

Levels and Events to Watch Next

At the time of writing, Bitcoin is trading at $104,370, down 2.04% on the day. The asset extended its pullback after losing support near the $107,000 level, with intraday sentiment turning defensive.

BTC is currently fluctuating between $104,000 and $106,000, a range that suggests consolidation after recent selling pressure.

A decisive move above $106,500 could pave the way for a rebound towards $109,000 and $112,000, where previous resistance has capped gains.

On the downside, a break below $103,500 could expose the market to deeper losses, with the next notable support seen around $101,000-$100,000, a key psychological zone watched by traders.

Meanwhile, Ethereum is trading at $3,477, down 3.48% in the last 24 hours. The currency weakened after repeatedly failing to hold above $3,700, suggesting sellers remain in control.

If ETH regains $3,550, it may attempt a rebound towards $3,750–$3,900. However, a drop below $3,450 could open the door to a stronger correction towards $3,300-$3,250, where stronger buying support had emerged earlier.

Meanwhile, market sentiment has turned sharply bearish, with the Crypto Fear and Greed Index. down to 27signaling “Fear”.

The index was at 36 yesterday, 42 last week, and 59 a month ago, reflecting a consistent erosion in investor confidence as crypto prices continue to fall. The sharp drop highlights the market’s growing caution, with traders reducing exposure amid volatile price action and declining risk appetite.

On November 3, US Bitcoin exchange-traded funds (ETFs) recorded $186.5 million on November 3, signaling renewed selling pressure in institutional products, according to data from SoSoValue.

Total cumulative net inflows now stand at $61.0 billion, with combined net assets valued at $143.5 billion, representing 6.75% of Bitcoin’s market capitalization. The total volume of trade for the day reached $ 4.69 billion, which reflects the continued activity despite the wider fall of the market.

Among individual issuers, BlackRock’s IBIT led flows with $186.5 million, while Fidelity’s FBTC, Grayscale’s GBTC and Ark & 21Shares’ ARKB posted no new flows. Despite the pullback, BlackRock’s fund remains dominant with $85.3 billion in total assets, followed by Fidelity’s $21.8 billion and Grayscale’s $18.2 billion.

Spot Ethereum ETFs also saw $135.76 million in outflows on November 3. Among the nine listed ETFs, BlackRock’s ETHA recorded the largest outflow of $81.7 million, followed by Fidelity’s FETH with $25.1 million, and Grayscale’s ETHE with $15 million.

Other issuers, including Bitwise, VanEck, and 21Shares, also reported smaller redemptions as institutional sentiment cooled alongside Ethereum’s market pullback.

Total net cumulative flow is now at $14.23 billion, while total net assets have fallen to $24.02 billion, representing 5.55% of Ethereum’s market capitalization. Daily trading volume across all funds reached $2.51 billion, reflecting high turnover amid falling prices.

In contrast, spot Solana ETFs saw $70.05 million in net inflows on Nov. 3, marking its fourth consecutive day of positive inflows, according to data from SoSoValue.

Total cumulative net outflow now stands at $269.26 million, with total net assets reaching $513.35 million, representing 0.57% of Solana’s market capitalization. The total trade value for the day was $67.59 million.

Among the two listed ETFs, Bitwise’s BSOL dominated with $65.16 million in inflows, while Grayscale’s GSOL added $4.9 million.

Meanwhile, FTX dropped his controversial proposal to limit repayments in dozens of countries after strong opposition from creditors, especially those in China.