Market analysts consider this movement a short-term correction and advise investors to remain prepared for volatility. The decline in Bitcoin prices coincides with global economic uncertainties and developments in US-China trade negotiations.

Critical Update on US-China Trade Talks

US Treasury Secretary Scott Bessent stated that the Trump administration aims to finalize a rare earth trade deal with China by November 27. Bessent expressed confidence that China will honor the agreement. This announcement marks a significant milestone in US-China trade relations.

The deal framework currently suspends the implementation of tariffs of up to 100% on goods imported from China. In return, China has agreed to postpone the licensing regime for rare earths and magnets throughout the year. This development is crucial for global technology and defense industries.

Rare Earths and Global Market Impact

Rare earths play a vital role in electronics, electric vehicles, and defense industries. A US-China agreement could strengthen supply chain security, providing a key reference point for technology companies and investors.

By suspending the threat of tariff hikes on critical imports, the US helps reduce global market uncertainty and ensures trade stability. The deal is expected to be completed by the end of the year.

Economic and Political Implications

Experts suggest that finalizing the deal could ease trade tensions between the US and China. Furthermore, securing a reliable supply chain for rare earths offers a critical advantage for technology companies.

Bessent stated, “I am confident that China will honor their agreements,” sending a positive signal regarding ongoing negotiations between the two nations. This statement is considered an important reference for both the US and global economy.

Key Highlights:

• Bitcoin (BTC) dropped to $94,000, down 2.08% in the last 24 hours.

• $100 million worth of long positions were liquidated in the past 60 minutes.

• US-China rare earth trade deal targeted to be finalized by November 27.

• The US suspends tariffs of up to 100% on imported goods from China.

• China agrees to postpone rare earth export licensing throughout the year.

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Bitcoin’s Technical Breakdown

According to Julio Moreno, Head of Research at CryptoQuant, Bitcoin dropped below its 365-day moving average at $101,564. Moreno stated on X, “This was the final confirmation of the 2022 bear market,” adding that prices need to rebound above this level quickly. Coinbase data showed BTC briefly hitting a low of $98,900 before slightly recovering to around $101,800.

The 365-day moving average tracks the average price of Bitcoin over the past year and serves as a key technical indicator. Market observers consider this metric critical for gauging investor sentiment. When BTC drops below this average, it is often seen as a strong bearish signal. Analyst Decode noted that Bitcoin also briefly fell below this level in April.

Correction or Bear Market?

Bitrue analyst Andri Fauzan Adziima commented that Tuesday’s drop technically indicates a bear market. BTC has fallen more than 20% from its all-time high of $126,000 reached in early October. However, Adziima emphasized that this is the fourth correction in the 2025 bull cycle—a routine market cleanup rather than the start of a long bearish period. Historical data shows that in bull markets, a 20% drop often leads to a 40% recovery within 60 days.

Tom Cohen, Head of Investment and Trading at Algoz Technology, added, “For Bitcoin to enter a true bear market, it would have had to breach the $100,000 level earlier.” Cohen also highlighted that macroeconomic developments, political moves by former President Trump, and the upcoming U.S. interest rate decision in December will heavily influence the market.

Bull Market Perspective

Although falling below the 365-day moving average caused short-term panic, experts view it as a normal correction within a bull cycle. Historical trends suggest that BTC can recover quickly from such dips. Market watchers note that if support holds, a strong year-end rally, commonly called a “Santa Claus rally,” is still possible.

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Last week was highly volatile for BTC. On Monday and Tuesday, prices briefly surged to $116,000 but were rejected at that level. Positive news from the U.S. Federal Reserve triggered a temporary recovery, lifting BTC back to $112,000. Despite a 25 basis point rate cut, Bitcoin fell below $106,000 on Thursday, resuming its downward trend.

Crypto See Sharp Losses

Altcoins followed Bitcoin’s decline. Ethereum (ETH) dropped 3.8% to $3,700, while XRP corrected 4.5% to $2.40. BNB, SOL, DOGE, ADA, LINK, SUI, HBAR, and AVAX suffered 7–8% losses, making them the worst performers of the day. Mid- and small-cap coins experienced similar pressure, though ICP rose over 8%, followed by WBT and ASTER.

• Today’s Altcoin Performance:

  • ETH: -3.8%

  • XRP: -4.5%

  • BNB, SOL, ADA, DOGE, LINK: -7–8%

  • ICP: +8%

  • WBT, ASTER: slight gains

Altcoin dominance increased to 58.3% on CoinMarketCap (CMC), while total market capitalization fell below $2.15 trillion.

Significant Market Value Loss

Overall, the crypto market lost more than $120 billion as Bitcoin and altcoins declined. CMC data shows total market capitalization dropped to $3.68 trillion. Investors are cautiously reassessing their positions amid high volatility.

Experts highlight that support and resistance levels are crucial in determining the next market moves. BTC holding near $107,000 will be key in shaping the market trend for the rest of the week.

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The crypto market started October with impressive gains, but the second half of the week saw a rapid fall. Bitcoin dropped to $111,000, while Ethereum and altcoins also entered a downtrend.

Meanwhile, China announced “special tariffs” on US-owned or operated vessels, escalating tensions further. The US responded by imposing tariffs on Chinese imports, including furniture and kitchen cabinets, reducing investor appetite for risk.

Investor Outflows and ETF Sales Accelerate

The tension quickly affected financial markets. On October 13, Ethereum spot ETFs recorded $429 million in net outflows, while Bitcoin ETFs saw $327 million leaving the market. In total, $756 million exited, dropping the crypto market cap by 4% to $3.75 trillion.

Analysts noted that this sell-off marked the return of fear in the market. Glassnode data shows funding rates in derivatives markets have fallen to their lowest since the 2022 bear market.

Additionally, the Bitcoin Fear & Greed Index moved into the “Fear” zone, signaling cautious investor sentiment.

Key investor signals to watch:

• Bitcoin tests $111,000 support.

• Ethereum ETFs see three consecutive days of outflows.

• Derivatives funding rates decline.

• A Trump Insider Whale increases short positions.

Trump Insider Whale Back in Action

The famous “Trump Insider Whale,” who previously made over $200 million in profits during last week’s market crash, has taken new action. The whale opened $340 million in new short positions, intensifying market fear.
Previously, the investor held $700 million in BTC and $350 million in ETH short positions. This move indicates a potential new price correction approaching.

According to Santiment analysts, the outcome of ongoing US-China trade talks will determine whether the market stabilizes or faces further declines. However, some experts argue the current sell-off may be a temporary correction, as historically similar waves often create new buying opportunities in crypto markets.

Conclusion: Fear Rises, Opportunities May Emerge

The crypto market remains uncertain amid US-China trade tensions. Analysts suggest short-term losses could lead to long-term recovery opportunities.
Investors are advised to closely follow market analysis, monitor ETF and altcoin trends, and strengthen risk management strategies.

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