The post BTC Drops Below $104K, $1.3B Liquidated, Sell Signals Flash Red appeared on BitcoinEthereumNews.com.

AltcoinsBitcoinEthereum The crypto market is facing another wave of heavy selling pressure, extending its downturn for a second consecutive day. Bitcoin, Ethereum, Solana, and XRP all remain in the red, with global crypto market capitalization slipping to $3.45 trillion, a 3.75% decline over the past 24 hours. According to Coinglass data, over $1.36 billion worth of leveraged positions have been liquidated in the last day alone, affecting more than 329,000 traders. Most of the liquidations stemmed from long positions – roughly $1.22 billion – suggesting over-leveraged bullish traders were once again caught off-guard by sudden price reversals. Bitcoin Struggles to Hold $104K as Rejection at $112K Proves Critical Bitcoin (BTC) has dropped to around $103,700, down 2.6% in the past 24 hours and nearly 9.3% over the week. The leading cryptocurrency failed to break above the $112,000 resistance zone, triggering a new wave of selling. Prominent analyst Michaël van de Poppe pointed out that $112,000 remains a “crucial level” for Bitcoin. “If that breaks, we’ll likely see a new all-time high,” he said on X, but emphasized that any level below $112K could offer “a great buying opportunity” for long-term investors. Clear rejection at $112K for #Bitcoin. That remains to be the crucial level for me. If that breaks = new ATH. Everything beneath $112K is a great buying opportunity. pic.twitter.com/vlUMZuwFOS — Michaël van de Poppe (@CryptoMichNL) November 4, 2025 However, technical indicators suggest the market could see further weakness before stabilizing. On the daily chart, Bitcoin’s Relative Strength Index (RSI) has fallen to 34.43, nearing oversold territory. The MACD remains deep in negative territory, showing widening bearish momentum, while both oscillators and moving averages on TradingView’s summary panel show a “strong sell” signal – with 16 indicators flashing sell and none signaling buy. Ethereum Slips Below $3,500 as Momentum…

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Filed under: News - @ November 4, 2025 10:31 am