Bitcoin broke below $100,000 as the crypto selloff widened

Bitcoin traded below $100,000 on November 4, 2025, breaking a threshold it had maintained on Coinbase’s BTC-USD market since June 23. The move was the clearest marker of a broad reduction in crypto risk: ether declined more sharply, U.S. technology shares sold off and listed spot-bitcoin products recorded substantial net withdrawals.

Coinbase’s completed UTC candle recorded a $98,892.97 low. Bitcoin recovered above the threshold before the UTC session ended, closing at $101,468.15. The distinction matters: November 4 produced an intraday break below $100,000, not a Coinbase daily close below it.

A venue-specific market break

Coinbase recorded a November 4 opening price of $106,557.98, a high of $107,269.85 and the $98,892.97 low. The $101,468.15 close was 4.78% below the opening observation. From the open to the low, the decline reached 7.19%; bitcoin then recovered approximately 2.60% from the low to the close. These percentages are Coinburn calculations from the exchange’s candle.

The same Coinbase series shows why the date represented a distinct milestone. Its June 23 candle reached $99,677.07 before closing above $105,000. Every intervening UTC daily candle remained at or above $100,000 at its low. That supports the narrower claim that November 4 was Coinbase BTC-USD’s first sub-$100,000 trade since June 23.

Bitcoin has no universal closing auction or consolidated global tape. Prices differed across exchanges and reporting windows, and contemporaneous publications consequently reported somewhat different lows. The Coinbase figures describe one liquid U.S.-dollar market using UTC boundaries; they should not be presented as the low on every venue.

Ether and equities showed broader risk reduction

The decline extended beyond bitcoin. Coinbase’s ETH-USD candle opened at $3,602.88, fell as low as $3,055 and closed at $3,286.21. That was an 8.79% open-to-close loss and a 15.21% fall from the open to the intraday low, both calculated from Coinbase data.

Traditional risk assets also weakened on November 4. The Associated Press reported that the Nasdaq Composite declined 2.0%, the S&P 500 lost 1.2% and the Russell 2000 fell 1.8% during the U.S. session. Those parallel declines establish a broader risk-off environment, but they do not prove that equity selling caused cryptocurrency prices to fall.

Monetary-policy uncertainty formed part of the contemporaneous backdrop. On October 29, the Federal Open Market Committee reduced its target range by 0.25 percentage point to 3.75%–4.00% while saying further adjustments would depend on incoming data and the evolving outlook. That official statement supports the policy context, not a single-cause explanation for November 4 trading.

Listed-product outflows added institutional pressure

Farside Investors recorded $566.4 million of net outflows from U.S.-listed spot-bitcoin products for the November 4 securities session. Its preceding rows show net outflows of $470.7 million on October 29, $488.4 million on October 30, $191.6 million on October 31 and $186.5 million on November 3.

Adding those five trading sessions produces approximately $1.904 billion of cumulative net outflows. That is Coinburn arithmetic using Farside’s rounded, dollar-denominated entries. It measures reported fund creations and redemptions, not global bitcoin trading volume, investor losses or an equivalent amount sold at one identifiable price.

The chronology also limits interpretation. Final daily fund-flow figures become available around or after the U.S. session, so the November 4 total cannot by itself explain each intraday price movement. The defensible conclusion is narrower: bitcoin lost the five-figure threshold temporarily while weakness spread across crypto assets, equities and listed bitcoin products. November 4 established a market-structure warning, not the duration or ultimate destination of the decline.