Bitcoin continues to decline below 100 thousand dollars.

Bitcoin Continues Downward Trend

Recent trends of risk aversion and a wave of selling in technology stocks have led to Bitcoin falling below the $100,000 level. On Friday, Bitcoin experienced a significant loss, dropping by 3.9% to $97,956. This situation indicates that over $450 billion in value has been erased from the crypto market since the beginning of October.

Reasons for Market Weakness

This market fluctuation is associated with the withdrawal of major investment funds, ETF buyers, and corporate balance sheets, which supported the Bitcoin rally earlier this year. This trend signals the beginning of a new period of vulnerability for crypto assets.

Assessment by 10x Research Analysts

10x Research analysts state that weakening ETF inflows, ongoing sales by long-term investors, and low demand from individual investors indicate that the crypto market has entered a confirmed bear trend. According to the institution, the next critical support level for Bitcoin stands at $93,000.