Although Bitcoin opened the session above $110,000, it fell sharply through the day and closed near $107,482 on November 3, 2025, marking a roughly 2.8% decline that wiped out recent gains from October’s peak. The intraday low reached approximately $106,990 amid heightened selling pressure, and the rapid move downward erased part of the rebound from a peak near $125,245 in early October, signaling a clear end to the “Uptober” momentum that had supported prices. Trading volumes and order book imbalances indicated that the decline was driven by cascading liquidations and short-term risk reduction, rather than a single fundamental shock. This highlights how margin calls can force sales at low prices, exacerbating downward price pressure. Market liquidations were substantial, exceeding $463 million in total as positions were forcibly closed during the sharp selloff, and about 173,765 traders were liquidated, underscoring the vulnerability of highly leveraged strategies in volatile markets. Long positions accounted for the majority of losses, roughly $405.27 million, while short positions lost about $57.97 million, a distribution consistent with a sudden reversal after a prolonged bullish run. The largest individual recorded liquidation was an $8.43 million BTCUSDT order on Hyperliquid, illustrating how single large orders can amplify price moves when liquidity thins. Sentiment shifted noticeably toward fear and risk aversion as the selloff unfolded, with implied volatility rising and altcoins following Bitcoin’s lead, producing correlated declines across major tokens and compressing overall market capitalization. The market adjustment followed earlier daily liquidation episodes in October that exceeded $335 million during sharp drops, suggesting that structural sensitivity to leverage remained elevated. Observers noted that the correction represented not only a technical retracement but also a reassessment of position sizing and margin risk among market participants. Macroeconomic and geopolitical factors contributed to the backdrop, as a stronger US dollar and uncertainty around further Federal Reserve rate cuts weighed on risk appetite, and a recent 0.25% Fed cut to 3.75%–4% was accompanied by cautious commentary from the Fed chair. Ongoing US government shutdown-related data delays and upcoming US-China trade talks further increased caution, implying that external developments may continue to drive volatility and influence trading dynamics in the near term. Spot Bitcoin ETFs experienced notable outflows recently, adding to downward pressure on prices. Over $414M in long positions were also liquidated during the move, amplifying downward momentum.
