BTC Tests Key Support at $99K as Long-Term Holder Selling Continues
The post BTC Tests Key Support at $99K as Long-Term Holder Selling Continues appeared on BitcoinEthereumNews.com.
Total market cap is slightly in the red today while large-caps are mostly flat or down. Crypto markets are mixed on Wednesday, Nov. 5, with most large-cap assets continuing to trade in the red, while Bitcoin dipped below $100,000 twice over the past 24 hours. Bitcoin (BTC) is down 1.2% on the day and trading around $102,600 at press time. BTC 24-hour price chart. Source: CoinGecko Ethereum (ETH) is down the most among the top-20 large caps today, losing and trading around $3,335. XRP, BNB, TRON (TRX), Dogecoin (DOGE), Cardano (ADA), and Chainlink (LINK) are flat or slightly in the green, while Hyperliquid’s HYPE fared better, up 8.8% today. A glassnode analyst noted that they’re seeing “decent spike in realized loss,” suggesting some degree of capitulation among Bitcoin holders. BTC realized loss. Source: glassnode Glassnode analyst Chris Beamish wrote in an X post today: “still seeing lots of long-term holder selling, but will be interested to see if the selling persists at these levels.” As glassnode explained in a Nov. 4 X post, a key level for Bitcoin is around $99,000, which has “historically provided support during pullbacks.” Mark Hiriart, an executive at digital asset trading firm Zerocap, said in commentary shared with The Defiant that historically, November has been “BTC’s strongest month,” but this “healthy correction,” which brought BTC’s price down 10% from the $110,000 peak “aligns with patterns seen in prior cycles, where post-euphoria dips precede stronger legs up.” Big Movers and Liquidations Among the top-100 assets, decentralized perpetuals exchange Aster’s ASTER and Zcash (ZEC) are the biggest gainers today, both up around 15%. For Aster, the price surge follows reports that its CEO announced plans to build a privacy‑focused public chain aimed at traders, with gas-free transactions. Meanwhile, today’s biggest losers are DASH — one of yesterday’s…
Filed under: News - @ November 5, 2025 3:32 pm