The crypto market began November under significant selling pressure, with Bitcoin briefly trading below $108,000. This decline has reignited fears among traders, particularly as on-chain data indicates an insider, previously accurate in predicting flash crashes, has resumed selling. This individual has reportedly dumped over 12,500 BTC, valued at approximately $1.4 billion, within a few hours.
While political headlines and shifts in social sentiment are often cited as causes for market movements, the available data suggests that Bitcoin is currently consolidating rather than experiencing a full-scale collapse.
Insider Activity Raises Alarms
Market observers quickly identified substantial sell orders appearing in rapid succession. The insider responsible for these sales has a proven track record with a 100% win rate in past market downturns, and their re-emergence has intensified concerns about another significant correction.
Analysis of the insider's wallet activity reveals consistent outflows to cryptocurrency exchanges, indicative of active selling. Given Bitcoin's current liquidity conditions, even a few billion dollars in sell pressure can lead to sharp price volatility. However, some analysts suggest that such significant sell-offs often precede market resets or even reversals, occurring after weaker market participants have been flushed out.
Trump’s 60-Minutes Appearance: A Misplaced Blame
Some commentators attributed the recent price dip to President Trump's appearance on 60 Minutes. During the interview, he discussed economic recovery extensively but only briefly mentioned cryptocurrencies. This limited focus reportedly disappointed some Gen-Z investors, who had anticipated more favorable remarks about digital assets and allegedly reacted by selling their holdings.
However, experts have largely dismissed this theory, arguing that the total market share held by Gen-Z investors in the cryptocurrency space is too small to precipitate such a widespread sell-off. At best, their actions might have initiated a snowball effect—a chain reaction where minor panic selling escalates into larger sell orders, potentially triggering algorithmic and institutional sell triggers. Once this momentum builds, it can amplify market declines beyond the initial catalyst.
Is Bitcoin Price Crashing?
According to the BTCUSD chart, Bitcoin is presently hovering around the $107,400 mark, which represents a key support level. Despite the recent decline, this support level has so far remained intact, suggesting a consolidation phase rather than a complete market breakdown.
- •Immediate support: $107,400
- •Major resistance: $110,800 – $111,150
- •RSI (Relative Strength Index): 40.78, indicating near oversold territory
- •MACD: Showing minor bearish momentum but flattening, suggesting that selling pressure may be diminishing
As long as Bitcoin maintains its position above the $107,000 level, it is considered to be in a consolidation phase. However, if this level is breached, the next significant support could be around $100,000, where substantial buying orders are anticipated to re-emerge.
Top 10 Cryptos — 24-Hour Performance
| Rank | Name | Symbol | 24h % Change |
|---|---|---|---|
| 1 | Bitcoin ($BTC) | BTC | -2.90% |
| 2 | Ethereum ($ETH) | ETH | -4.00% |
| 3 | Tether ($USDT) | USDT | 0.00% |
| 4 | $XRP | XRP | -4.72% |
| 5 | $BNB | BNB | -6.12% |
| 6 | Solana ($SOL) | SOL | -5.61% |
| 7 | $USDC | USDC | +0.01% |
| 8 | TRON ($TRX) | TRX | -0.35% |
| 9 | Dogecoin ($DOGE) | DOGE | -6.98% |
| 10 | Cardano ($ADA) | ADA | -5.53% |
The current performance data, showing red candles across all major cryptocurrencies, confirms that the selling pressure on Bitcoin has had a ripple effect throughout the entire market.
Bitcoin Price Prediction: Will Bitcoin Recover?
Despite the prevailing market sentiment, Bitcoin's current price structure still demonstrates resilience. Traders are closely monitoring the $107,000 zone; a bounce from this level could potentially reignite upward momentum, pushing prices toward the $111,000–$114,000 range. Conversely, if selling pressure intensifies and the psychologically significant $100,000 level is tested, the market might enter a more pronounced correction phase.
For the immediate future, consolidation remains the most likely scenario. Evidence suggests that informed market participants are adopting a wait-and-see approach rather than exiting their positions.