Bitcoin Slides Toward $103K as Crypto Markets Retreat – 11/11/2025
Crypto markets gave back Monday’s gains on Tuesday, with Bitcoin (BTC) dropping to around $103,000 after briefly hitting $107,000 overnight. The 24-hour loss of 2.5% erased optimism from President Trump’s “tariff dividend” plan and hopes for a U.S. government shutdown resolution.
Ethereum (ETH) fell 2.3% below $3,500, while major altcoins including Solana (SOL $156), XRP ($2.38), and SUI ($2.01) declined 4%-5%, indicating broad weakness across digital assets.
Crypto equities, particularly bitcoin miners linked to AI infrastructure, also retreated. CleanSpark (CLSK) fell 8%, Hut 8 (HUT) nearly 9%, and Core Scientific (CORZ) dropped 11.5%. TeraWulf (WULF) and Bitdeer (BTDR) posted double-digit losses as earnings and guidance disappointed. CoreWeave cut next-quarter outlook due to data center delays, tumbling 15% to its lowest since September.
Market pressure was compounded by SoftBank selling its $5.8 billion stake in Nvidia (NVDA), driving the stock down 3.5%. The Nasdaq lost 0.7% and the S&P 500 fell 0.3%. The ADP report showed U.S. private employers cut an average of 11,250 jobs per week, signaling labor market weakness.
Bitcoin Remains Range-Bound
Tuesday’s drop filled a CME gap, where bitcoin futures open above or below the prior session’s close. CoinDesk analyst James Van Straten noted that while gaps are often revisited, not all are filled.
Traders are taking profits on BTC and ETH rebounds, according to Jasper De Maere of Wintermute. “Alts are still under pressure; majors need to move higher first,” he said.
BTC continues to trade between $100,000 and $110,000, consolidating. Paul Howard of Wincent added, “If U.S. macro conditions improve with the shutdown ending, the $100,000 floor should hold.”
