Bitcoin (BTC) plunged below the psychological $100,000 mark and trading at levels not seen since the major liquidations in May. The sharp decline has exposed thinning spot market demand and pushed the asset toward its most critical long-term support zone.
On Thursday, November 13, BTC fell to a low of $95,900 after peaking near $103,988, crossing the six-figure threshold in a wave of forced selling. The move triggered $190 million in long liquidations in a single hour, contributing to over $655 million in total liquidations across the market within 24 hours.
The downturn was amplified by persistent institutional selling pressure. Spot Bitcoin Exchange-Traded Funds (ETFs) recorded a net outflow of $278 million on November 12, contributing to nearly $1 billion ($961 million) in outflows for the month so far. This lack of institutional buying power was insufficient to absorb the cascade of leveraged selling.
Analysts note that the price action revealed structural weakness, particularly in the range between $106,000 and $118,000, where fresh demand was severely lacking.
Bitcoin’s new low places it precariously close to a critical on-chain support level, the $95,000 “HODLers Wall.”
On-chain data confirms that approximately 65% of all invested USD value in Bitcoin is currently priced above $95,000. The $95,000 level represents a massive concentration of long-term holder (LTH) and short-term holder (STH) cost basis, making it the most significant structural support in the market.
