BTC Slides to $103K; Mining Stocks Drop on Cooling AI Demand and SoftBank’s Nvidia Pullout

Bitcoin Retreats Toward $103K as Crypto Markets Pull Back – 11/11/2025

Crypto markets reversed Monday’s rebound on Tuesday, with Bitcoin (BTC) slipping back to around $103,000 after briefly topping $107,000 overnight. The 24-hour drop of 2.5% erased gains fueled by optimism over President Trump’s “tariff dividend” plan and a potential end to the U.S. government shutdown.

Ethereum (ETH) fell 2.3% below $3,500, while large-cap altcoins such as Solana (SOL $156), XRP ($2.38), and SUI ($2.01) declined 4%-5%, reflecting a broad retreat across digital assets.

Crypto equities, especially bitcoin miners tied to AI infrastructure, also sold off. CleanSpark (CLSK) dropped 8%, Hut 8 (HUT) fell nearly 9%, and Core Scientific (CORZ) tumbled 11.5%. TeraWulf (WULF) and Bitdeer (BTDR) recorded double-digit losses as earnings reports and growth guidance disappointed investors. CoreWeave slashed next-quarter guidance due to data center delays, falling 15% to its lowest since September.

Adding pressure, SoftBank sold its $5.8 billion stake in Nvidia (NVDA), pushing the chipmaker’s stock down 3.5%, while the Nasdaq lost 0.7% and the S&P 500 fell 0.3%. The ADP report also showed U.S. private employers cutting an average of 11,250 jobs weekly, highlighting labor market weakness.

Bitcoin Remains Range-Bound

Tuesday’s decline filled a CME gap, where bitcoin futures open above or below the prior session’s close. While gaps are often revisited, not all are filled, noted CoinDesk analyst James Van Straten.

Traders are taking profits amid the recent BTC and ETH bounce, said Jasper De Maere, OTC desk strategist at Wintermute. “Alts are still under pressure; majors need to move higher first,” he said.

BTC continues to trade between $100,000 and $110,000, consolidating. Paul Howard of Wincent said, “If U.S. macro conditions improve with the shutdown ending, the $100,000 floor should hold.”

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