Bitcoin falls to ~$102.7k — Tuesday, Nov 4, 2025

Bitcoin slipped to about $102.7k on Tuesday as crypto broadly traded lower. The move gathered pace during U.S. hours and coincided with a fresh wave of long liquidations across futures markets. News desks also flagged a softer backdrop from recent U.S. spot BTC ETF flows and a cautious macro tone.

Leverage washout: the market came in long-heavy; once prices started to slide, forced unwinds accelerated the drop. Tally for the session/day topped the $1B mark in total crypto liquidations, mostly on the long side, according to market trackers and press wraps.

ETF flows cooled: U.S. spot Bitcoin ETFs showed a streak of net outflows into early November, removing a recent tailwind for dip-buying and weighing on sentiment. Over the latest run of sessions, cumulative outflows were cited around $1.3B{index=3}

Macro risk-off: a firmer U.S. dollar and shifting rate-cut expectations kept risk appetite cautious. On the day, gold and oil also traded slightly lower—consistent with a broad risk-off tone driven by a stronger dollar—though these moves look more like background headwinds than direct drivers for BTC.

Funding reset: elevated funding ahead of the slide pointed to a long tilt; the reset can reduce excess leverage and sometimes sets the stage for cleaner bases if flows stabilize.

Near term, positioning and ETF flows stay in focus. If outflows calm and funding remains balanced, the market can attempt a higher-low build; if large outflows persist while leverage reloads quickly, volatility likely stays elevated. Keep size disciplined until liquidity normalizes.