Bitcoin cannot catch a break on Tuesday as its adverse price movements continue to dig new lows, with the latest being at just under $101,000.
With the asset now on the brink of its first price dump below $100,000 since June, whales and treasury companies have begun to offload, while some analysts believe this is the official start of a bear market.
Sequans Communications, one of the numerous BTC treasury firms, <a href="https://www.newsfilecorp.com/release/273105/Sequans-Redeems-50-of-Convertible-Debt-Through-Strategic-Asset-Reallocation" rel="noopener noreferrer nofollow">announced</a> today that it had redeemed 50% of convertible debt issued to purchase bitcoin by selling off 970 units of the cryptocurrency. Thus, it reduced its total outstanding debt from $189 million to $94.5 million. Its BTC stash has dropped to 2,264 from 3,234.
In another bearish development, which intensified the immediate selling pressure on the asset, whales had offloaded $272 million worth of the asset, as <a href="https://x.com/ali_charts/status/1985739314320326839" rel="noopener noreferrer nofollow">reported</a> by popular analyst Ali Martinez.
These moves have only added to the overall negative landscape in the crypto industry for the past week. Recall that BTC challenged the $116,000 resistance last Tuesday only to be rejected and driven south hard.
The beginning of the current business week has been particularly painful. Bitcoin was <a href="https://cryptopotato.com/bitcoin-altcoins-take-another-beating-privacy-coins-buck-the-trend-market-watch/" rel="noopener noreferrer nofollow">stopped</a> at $111,000 on Sunday and has <a href="https://cryptopotato.com/whats-next-for-bitcoins-price-sub-100k-dump-or-launchpad-in-disguise/" rel="noopener noreferrer nofollow">dumped</a> by $10,000 since then to just under $101,000 hours ago.
Moreover, the cryptocurrency has retraced by roughly 20% since its all-time high marked less than a month ago. As such, the Kobeissi Letter categorized it as the beginning of the bear market.
<blockquote class="twitter-tweet">
 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. <a href="https://t.co/EHoyb8xsZK" rel="noopener noreferrer nofollow">pic.twitter.com/EHoyb8xsZK</a>
 — The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1985759382932422983?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 4, 2025</a>
</blockquote>

The altcoins have been in an even worse state over the past day. TAO leads the adverse trend with a massive 18% decline, followed by IP, APT, KAS, OKB, TON, SOL, and many others.
The larger caps have suffered badly as well, with ETH dumping by 7%, XRP by 6%, BNB by 8%, and SOL by 8.5%.
The post <a href="https://cryptopotato.com/bitcoin-price-plunges-toward-100k-as-analysts-call-the-start-of-a-bear-market/" rel="noopener noreferrer nofollow">Bitcoin Price Plunges Toward $100K as Analysts Call the Start of a Bear Market</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Bitcoin Price Plunges Toward $100K as Analysts Call the Start of a Bear Market

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