Bitcoin (BTC) started November under selling pressure after ending October in the red for the first time in over six years, sparking renewed crypto market crash concerns. The Bitcoin price fell below $108,000 amid broader market uncertainty driven by global macroeconomic events, whale selloffs, and a bearish technical signal known as the Hindenburg Omen.
The Hindenburg Omen — an indicator famous for predicting the 1987 Black Monday and the 2008 Financial Crisis — has flashed twice recently, warning of a potential downturn. Analyst Tom McClellan noted that multiple occurrences of this signal could amplify market risks. The alert comes as Bitcoin and Ethereum ETF outflows rise and tech giants like Meta, Oracle, and Microsoft see stock declines, deepening fears of a broader financial correction.
Adding to volatility, investors are watching the U.S. Supreme Court’s ruling on Trump’s tariff policies. Trump defended tariffs on Truth Social, claiming they are vital for America’s economic security. His recent trade agreements, including a one-year deal with China reducing tariffs on rare earths and critical minerals, temporarily boosted crypto sentiment before markets reversed.
Meanwhile, on-chain data shows heavy selloffs from Bitcoin whales and long-term holders, who have offloaded over 405,000 BTC in the past month. Lookonchain reported a whale transferring 13,000 BTC ($1.48 billion) to exchanges, while others have deposited millions in Ethereum, realizing significant profits.
10x Research warned that Bitcoin could fall further below $107,000, citing weakening ETF demand, miner focus shifting toward AI, and fading Ethereum strength. As mega whales continue selling and treasury holdings decline, analysts remain divided on whether this signals a healthy correction or the start of a deeper crypto bear trend.
