In the dim and desolate tavern of the cryptocurrency realm, where the ghosts of speculative greed whisper through the cracks, Bitcoin stumbled anew on Tuesday, its once-proud form now reduced to a wretched shadow of its former self. The price, that fickle muse of market madness, plummeted beneath the sacred threshold of $101,000, as if the very earth had conspired to mock the hubris of mortals who dared to crown it king.
The air grew heavy with the scent of treachery as whales, those leviathans of liquidity, began their ritualistic unloading, while treasury firms-cloaked in the garb of fiscal prudence-betrayed their own kind. Sequans Communications, a name once spoken with reverence, now stood exposed as a Judas, selling 970 units of BTC to redeem half its debt, reducing its hoard from 3,234 to a paltry 2,264. Ah, the poetry of financial penance!
Meanwhile, Ali Martinez, that modern-day Cassandra, proclaimed the arrival of a bear market with the solemnity of a funeral dirge. $272 million in BTC had been liquidated by the great and the greedy, a massacre of wealth that left the streets slick with the blood of shattered dreams. And yet, the masses clung to hope like a drunkard to the last dregs of vodka-a futile, delusional grasp.
The week had been a symphony of despair. BTC, which had dared to challenge the $116,000 summit mere days prior, was now cast down like Icarus, its wings melted by the scorching breath of reality. Sunday’s feeble stand at $111,000 crumbled by Monday, and by Tuesday, it languished near $101,000, a 20% retrace from its peak. The Kobeissi Letter, that self-appointed oracle of the digital age, declared it with the gravitas of a prophet: “BREAKING: Bitcoin officially enters bear market territory. We are living in the most exciting market in history.” One might call it thrilling-if only excitement could fill the void left by evaporated fortunes.
Altcoins, those lesser-known sinners, fared no better. TAO tumbled 18%, its fall a tragic opera of folly. IP, APT, KAS, OKB, TON, SOL-all danced the waltz of ruin, their prices spiraling into the abyss. Even the mighty ETH and BNB, pillars of the crypto pantheon, buckled under the weight of despair, their declines a grim reminder that no god is safe from the wrath of the crowd.
BREAKING: Bitcoin officially enters bear market territory, now down -20% since its record high seen on October 6th.
We are living in the most exciting market in history.
– The Kobeissi Letter (@KobeissiLetter) November 4, 2025
And so, dear reader, the curtain falls on this chapter of digital folly. The market, that great and capricious beast, reminds us all that fortune’s wheel turns without mercy. Let us raise a glass-not to Bitcoin, but to the absurdity of it all. 🍻 Or perhaps to the next bull run. One can always dream… just not too loudly. 💬✨
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2025-11-04 21:12