Bitcoin Slides Toward $103K as Crypto Markets Pull Back – 11/11/2025
Crypto markets reversed Monday’s rebound on Tuesday, with Bitcoin (BTC) falling to around $103,000 after briefly topping $107,000 overnight. The 24-hour decline of 2.5% erased gains fueled by President Trump’s “tariff dividend” plan and optimism over a U.S. government shutdown resolution.
Ethereum (ETH) dropped 2.3% below $3,500, while large-cap altcoins including Solana (SOL $156), XRP ($2.38), and SUI ($2.01) fell 4%-5%, reflecting broad weakness across digital assets.
Crypto equities, particularly bitcoin miners tied 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) recorded double-digit losses. 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%, while 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 remain 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.”
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