What’s Driving Bitcoin Below $100,000 Amid Market Turbulence?

The cryptocurrency market is experiencing a significant downturn, attributed to a combination of macroeconomic uncertainties and shifts in investor behavior. As of November 14, the total market cap has dropped by 3.8%, with Bitcoin falling below the crucial $100,000 mark, reflecting a nearly 9.1% decline from its recent highs.

Analysts point to a prevailing bear market sentiment, exacerbated by negative news surrounding the U.S. government shutdown and disappointing job growth data. Institutional investors are pulling back, leading to record outflows from Bitcoin-focused funds.

Additionally, the potential release of delayed economic indicators is creating further volatility, leaving investors anxious about the economy's health. This has fostered a shift towards traditional assets, with Bitcoin's dominance in the market waning.

Despite these challenges, some analysts maintain a cautious optimism, suggesting that once macroeconomic conditions stabilize, there may be opportunities for recovery. As the market grapples with this turbulence, it remains to be seen how quickly confidence can be restored among both institutional and retail investors.