Bitcoin cannot catch a break on Tuesday as its adverse price movements continue to dig new lows, with the latest being at just under $101,000.<\/p>\n
With the asset now on the brink of its first price dump below $100,000 since June, whales and treasury companies have begun to offload, while some analysts believe this is the official start of a bear market.<\/p>\n
Sequans Communications, one of the numerous BTC treasury firms, announced<\/a> today that it had redeemed 50% of convertible debt issued to purchase bitcoin by selling off 970 units of the cryptocurrency. Thus, it reduced its total outstanding debt from $189 million to $94.5 million. Its BTC stash has dropped to 2,264 from 3,234.<\/p>\n In another bearish development, which intensified the immediate selling pressure on the asset, whales had offloaded $272 million worth of the asset, as reported<\/a> by popular analyst Ali Martinez.<\/p>\n These moves have only added to the overall negative landscape in the crypto industry for the past week. Recall that BTC challenged the $116,000 resistance last Tuesday only to be rejected and driven south hard.<\/p>\n The beginning of the current business week has been particularly painful. Bitcoin was stopped<\/a> at $111,000 on Sunday and has dumped<\/a> by $10,000 since then to just under $101,000 hours ago.<\/p>\n Moreover, the cryptocurrency has retraced by roughly 20% since its all-time high marked less than a month ago. As such, the Kobeissi Letter categorized it as the beginning of the bear market.<\/p>\n BREAKING: Bitcoin officially enters bear market territory, now down -20% since its record high seen on October 6th.<\/p>\n We are living in the most exciting market in history. pic.twitter.com\/EHoyb8xsZK<\/a><\/p>\n \u2014 The Kobeissi Letter (@KobeissiLetter) November 4, 2025<\/a><\/p>\n\n The altcoins have been in an even worse state over the past day. TAO leads the adverse trend with a massive 18% decline, followed by IP, APT, KAS, OKB, TON, SOL, and many others.<\/p>\n The larger caps have suffered badly as well, with ETH dumping by 7%, XRP by 6%, BNB by 8%, and SOL by 8.5%.<\/p>\n The post Bitcoin Price Plunges Toward $100K as Analysts Call the Start of a Bear Market<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin cannot catch a break on Tuesday as its adverse price movements continue to dig new lows, with the latest being at just under $101,000. With the asset now on the brink of its first price dump below $100,000 since June, whales and treasury companies have begun to offload, while some analysts believe this is […]<\/p>\n","protected":false},"author":0,"featured_media":110371,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-110370","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/110370"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=110370"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/110370\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/110371"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=110370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=110370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=110370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}