Bitcoin’s Wild Ride: $100K? More Like $98K and a Side of Chaos 🤑💥

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Oh, Bitcoin. You fickle little darling. You’ve done it again, haven’t you? 🌪️ Plunging below $100K for the second time this week, like a dramatic ex who just can’t commit. Forced liquidations? Heavy selling? Honey, it’s a mess. 💸🔥

At the time of me typing this (and probably you reading it), BTC is cozying up near $98,400. That brief flirtation with six figures? Gone. Poof. Like a Tinder match who ghosts after one date. Sentiment across trading desks? Cautious. Very cautious. 🧐

Bitcoin’s $100K Dream: Crushed Like a Bug 🐜✨

And of course, the decline triggered a liquidation party. 🎉 Over $683 million wiped out in 24 hours-$556 million in long positions alone. Ouch. Traders were all like, “Upside? Yes, please!” and the market was like, “LOL, nope.” 😂

Bitcoin alone lost $164.5 million in liquidations in four hours. Ethereum and Solana joined the pity party, adding $145 million to the tears. 🥲

But wait, there’s more! Long-term holders (LTHs, the OG Bitcoin gang) are selling like it’s Black Friday. According to CryptoQuant, they dumped 815,000 BTC in the last 30 days. That’s the most since January 2024. 🛒💨

The chart? It’s a hot mess of sustained distribution across cohorts from 6 months to 7+ years. Supply overhang? Oh, it’s hanging alright. 🪜

This selling spree is giving major 2021 and early-2024 vibes. Long-term holders locking in profits after rallies? Classic. Each spike in LTH spending? Local tops and consolidation periods. Groundhog Day, but make it crypto. 🐿️⏳

Market analysts are like, “Long-term holder behavior > short-term noise.” Seasoned wallets sending coins back into circulation? Liquidity deepens, but price support? Not so much. It’s like inviting everyone to the party but forgetting to stock the bar. 🍸🙅‍♀️

It’s another one of those days:

All asset classes are trading sharply lower today.

And, attempted intra-day relief rallies are being sold into new lows; a textbook “emotional” correction.

This has become an increasingly common occurrence in 2025, particularly amid record…

– The Kobeissi Letter (@KobeissiLetter) November 13, 2025

So, here we are: forced selling + voluntary selling = a drawdown magnified like a bad Instagram filter. 😬 The next test? $98K-$100K. Buyers, if you’re out there, now’s your moment to shine. Or we’re headed for mid-cycle support levels. Buckle up, buttercup. 🚀🤪

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2025-11-14 00:11