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 topping $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%, signaling broad weakness.
Crypto equities, particularly bitcoin miners tied to AI infrastructure, also sold off. 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, while CoreWeave cut next-quarter guidance due to data center delays, tumbling 15% to its lowest since September.
Adding pressure, SoftBank sold its $5.8 billion stake in Nvidia (NVDA), pushing the stock down 3.5%, with the Nasdaq down 0.7% and the S&P 500 off 0.3%. The ADP report showed U.S. private employers cut an average of 11,250 jobs per week, highlighting 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, said Jasper De Maere of Wintermute. BTC continues trading between $100,000 and $110,000, with Paul Howard of Wincent adding, “If U.S. macro conditions improve with the shutdown ending, the $100,000 floor should hold.”
