Crypto Market Slides Sharply as Bitcoin Struggles Below $100K – What's Behind The Selloff

The broader cryptocurrency down trend intensified on November 14, with digital assets facing significant headwinds. The total crypto market capitalization has contracted to $3.38 trillion, representing a 5.6% decline from recent peaks. Trading activity remains robust with $254 billion in daily volume, but sentiment has shifted decisively toward fear as 96 of the top 100 cryptocurrencies posted red candles over the past 24 hours.

Bitcoin (BTC) experienced a notable pullback, trading at $95.54K with a 2.19% daily loss. The flagship cryptocurrency briefly touched support near $95.19K but continues to face resistance as it hovers below the psychologically critical $100,000 threshold. Ethereum has proven even more vulnerable, down 2.52% to $3.30K as the broader altcoin sector capitulated harder than Bitcoin.

The Institutional Paradox: Accumulation Amid Price Weakness

Despite the headlines of declining prices, on-chain data reveals a counterintuitive story. Major institutional players have been quietly accumulating positions during the downturn. Anchorage Digital received over 4,000 BTC worth approximately $405 million from major institutions including Coinbase, Cumberland, and Galaxy Digital within a nine-hour window, suggesting these sophisticated investors view current levels as attractive entry points.

This institutional buying pressure stands in stark contrast to retail panic selling, illustrating the divergence between smart money positioning and mainstream market sentiment. The dynamic suggests that while near-term volatility may persist, longer-term accumulation patterns point toward potential stabilization.

Multiple Headwinds Weighing on Prices

Market analysts point to a confluence of pressures deflating cryptocurrency valuations. US Dollar strength and elevated Treasury yields continue to pressure risk assets broadly, while macro uncertainty weighs on investor confidence. Crypto analyst commentary highlights that Bitcoin appears caught between competing forces: long-term investors reducing positions, liquidity concerns, and broader macro volatility.

The cryptocurrency down trend has also revealed that digital assets no longer move in lockstep with technology stocks, suggesting BTC responds more acutely to currency and fixed-income dynamics than previously believed. This independence could prove beneficial once these macro headwinds ease.

Technical Levels & Price Targets

For Bitcoin (BTC), immediate support sits near $94,500 with a critical floor at $90,000 should selling accelerate. Current 24-hour trading range spans from $95.19K to $97.77K. Conversely, a recovery could face resistance at $100,000 before targeting $103,000+ if buying momentum resumes.

Ethereum (ETH) at $3.30K has weakened below psychological support, with potential downside toward $3,000 if the selloff persists. Bounce scenarios would target the $3,500-$3,650 zone. Solana (SOL) declined 3.89% to $141.69, tracking broader altcoin weakness but maintaining relative strength versus Ethereum.

Among top 100 assets, most posted losses. Notable decliners included Story Network (IP) down 27.84% to $2.41 and Aave (AAVE) sliding 4.82% to $170.63. Hedera (HBAR) fell 5.10% to $0.12. ZCash (ZEC) posted a 6.12% decline to $416.15. Only four coins in the top 100 captured gains, with Leo Token showing modest upside.

ETF Flows Reveal Institutional Repositioning

US spot Bitcoin exchange-traded funds experienced significant outflows, with institutions reducing exposure or reallocating capital. Ethereum ETFs similarly posted net outflows as managers adjusted positioning. However, the debut of Canary Capital’s XRPC—the first US spot XRP ETF—on this trading day marked an important milestone, generating $58 million in opening volume and signaling rising institutional appetite for diversified crypto exposure beyond Bitcoin and Ethereum.

The Sentiment Shock

The Crypto Fear and Greed Index has deteriorated into extreme fear territory, now reading 22 out of 100. This reading typically indicates two possibilities: either the market has become severely oversold with limited downside remaining, or capitulation may continue. Historically, extreme readings often precede sharp reversals once panic subsides.

Looking Ahead: The December Rate Decision

Market participants will be watching the US Federal Reserve’s December 10th interest rate decision as a potential catalyst for cryptocurrency recovery. Should Fed communications signal a pause or dovish tilt toward rate cuts, risk assets including Bitcoin could experience a significant relief rally heading into year-end.

Until then, the cryptocurrency down pattern may continue grinding lower as macro uncertainty persists, but institutional accumulation patterns suggest this weakness is creating opportunities rather than indicating structural damage to the sector’s longer-term thesis.