Bitcoin’s “Red October” Extends Into November
Bitcoin (BTC) is enduring one of its harshest declines in 2025, recently falling another 4% and dropping below the $100,000 support level. This downturn triggered a wider crypto market correction, with liquidations exceeding $2 billion in the past 24 hours.
Market Impact Amid US Government Shutdown
The correction that began in October continues into November against the backdrop of the ongoing US government shutdown. Significant profit-taking by whales and institutional investors has amplified downward pressure on BTC.
- BTC’s 5% drop in the last month marks the end of its six-year “Uptober” streak since 2018, as noted by CNF.
- The 100% tariffs imposed on China last month by the Trump administration affected the crypto market broadly.
- Uncertainty from the US shutdown extends negative market sentiment into November.
Bitcoin Price and Altcoin Performance
Earlier today, Bitcoin’s price dropped under $100,000 for the first time since June 2025. On the monthly chart, BTC shows a 22% decline, while altcoins such as Ethereum (ETH), XRP, Solana (SOL), and Dogecoin (DOGE) have fallen even more sharply.
Bitcoin critic Peter Schiff commented on the situation: “BTC will lose all its 2025 gains, just like ETH did.”
Summary
This continuing correction reflects mounting investor caution amid geopolitical uncertainties and large-scale profit-taking by major holders.
Author’s summary: Bitcoin's sharp decline below $100K extends the October correction into November, driven by US shutdown uncertainty and heavy profit-taking by whales and institutions.
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