Bitcoin Falls Below $100K as Crypto and Tech Stocks Retreat Amid U.S. Liquidity Crunch
13/11/2025
Bitcoin and broader crypto markets slumped during U.S. trading hours on Wednesday, erasing overnight gains and signaling a muted outlook for 2025. BTC briefly touched $104,000 overnight but fell below $100,000 in early U.S. hours, down 1.7% over 24 hours. Ether and major altcoins also retreated, reflecting widespread selling pressure.
The decline came amid broad risk-off sentiment as investors adjusted expectations that the Federal Reserve may hold rates steady in December. The Nasdaq dropped 2%, and the S&P 500 fell 1.3%.
Crypto Equities Bear the Brunt
Crypto-related stocks suffered heavy losses, particularly miners exposed to AI infrastructure and data centers. Bitdeer (BTDR) fell 19%, Bitfarms (BITF) dropped 13%, while Cipher Mining (CIFR) and IREN lost over 10% each. Other crypto equities, including Galaxy (GLXY), Bullish (BLSH), Gemini (GEMI), and Robinhood (HOOD), posted declines of 7%-8%.
BTC’s 2025 Peak Likely Set
The weakness during U.S. sessions highlights a recurring trend as the market grapples with a potential pause in Fed rate cuts. Paul Howard, senior director at Wincent, noted, “Crypto is closely tied to macroeconomics now more than ever. With roughly 50/50 odds for a December rate cut, BTC is likely to stay range-bound for the rest of the year.”
Howard added, “We’ve probably seen the highs for 2025. Moving forward, expect steady appreciation over the coming year with continued volatility.”
Liquidity Dynamics Amid Government Shutdown
The U.S. government shutdown has affected market liquidity. Fiscal data showed a $198 billion surplus in September, with October expected to surpass that due to shutdown effects. Market analyst Mel Mattison commented, “This period has been one of the driest for fiscal liquidity in years. But with new fiscal measures on the horizon, asset prices could see renewed support.”
Mattison cautioned that short-term volatility may persist, but as liquidity returns, upward pressure on both crypto and risk assets is likely.
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