Bitcoin's Price Dropped Below $100,000 Today For the First Time in Months

Core Insights - Bitcoin's price has recently fallen over 5%, trading below $100,000, marking its lowest point since reaching a record high of over $126,000 in early October [2][4] - The decline in Bitcoin's price is part of a broader trend following a significant drop in the crypto market, referred to as the crypto market's Black Friday, leading to the first red October for Bitcoin since 2018 [2][4] Market Sentiment - Investor sentiment has shifted to fear, as indicated by the crypto fear and greed index, which moved from a neutral position to fear [3] - The volatility of cryptocurrencies is highlighted, with sharp declines typically following extended upward trends [4] ETF Outflows - Spot Bitcoin ETFs have experienced net outflows of approximately $1.3 billion since October 29, with spot Ether ETFs seeing outflows of around $500 million during the same period [5][7] - The outflows from these ETFs coincide with the decline in Bitcoin's price, which last fell below $100,000 in May [5][7] Impact on Related Stocks - Major stocks linked to Bitcoin, such as MicroStrategy, Coinbase Global, and Robinhood, have also seen declines of at least 6% as a result of the weakening Bitcoin price [6][7] - Some investors, however, remain bullish; for instance, a strategy co-founded by Bitcoin advocate Michael Saylor acquired 397 Bitcoin at an average price of $114,771 between October 27 and November 2 [6]