On November 4, the cryptocurrency market witnessed notable volatility as Bitcoin, the flagship digital asset, slipped below the $107,000 mark, reflecting cautious investor sentiment amid broader market uncertainty. The global market capitalization dropped to $3.55 trillion, registering a 1.58 percent decline over 24 hours, as top altcoins including Ethereum, Solana, Ripple, Litecoin, and Dogecoin saw moderate losses. Decred emerged as the standout performer, surging over 135 percent in a 24-hour window, while ASTER recorded the steepest decline, falling nearly 15 percent.
Bitcoin’s price stood at $106,768.92 at the time of reporting, marking a 1.06 percent dip, with Indian exchanges pricing BTC at Rs 94.56 crore. Ethereum followed with a 3.20 percent loss at $3,623.03, while Solana and Ripple dropped 7.06 percent and 4.32 percent respectively. Litecoin and Dogecoin also faced declines of 5.32 percent and 3.13 percent, highlighting a synchronized downward movement across major cryptocurrencies.
Market analysts attribute the current consolidation to macroeconomic factors and investor behavior. Edul Patel, CEO of Mudrex, observed that the crypto market is digesting the Federal Reserve’s hawkish signals, with no expected rate cuts in December, leading to profit-taking across major digital assets. Institutional activity remains notable, however, with large-scale BTC purchases indicating sustained confidence among sophisticated investors. CoinSwitch Markets noted that Bitcoin’s break below its 200-day average, alongside $1.18 billion in liquidations, reflects short-term caution as leveraged positions unwind.
Experts like Avinash Shekhar of Pi42 suggest that the correction across major tokens underscores market fragility rather than a fundamental bearish shift. He emphasized that long-term investors should focus on network strength, token utility, and on-chain activity, while acknowledging that excessive leverage amplified recent losses. Sathvik Vishwanath of Unocoin highlighted that the $105,000 level now serves as a critical floor for Bitcoin, with potential rebounds toward $111,000–$113,000 if support holds, whereas breaches could trigger deeper corrections. CoinDCX Research echoed the trend, noting a descending pattern for the broader market with top gainers including Decred, Dash, Internet Computer, and Zcash, while Aster, Bitget Token, and Aptos faced the steepest losses.
This market movement illustrates the ongoing balancing act between investor optimism in high-potential altcoins and cautious positioning in major cryptocurrencies amid macroeconomic uncertainty. While short-term fluctuations remain inevitable, the resilience of long-term holders and institutional investors may continue to provide stability, suggesting that current dips could present strategic entry points for informed participants.
Looking ahead, market watchers will likely monitor support levels, regulatory developments, and on-chain activity closely to gauge whether this phase represents a temporary consolidation or a prelude to broader market shifts. The combination of selective gains and widespread risk management signals that the crypto ecosystem remains dynamic, with opportunities and caution coexisting for traders and investors alike.
