Bitcoin Price Falls Below $100K. Why the Crypto Is Dropping Today.

Bitcoin is now trading 20% off the record high it hit in early October. (Michael M. Santiago/Getty Images)

The price of Bitcoin fell below $100,000 for the first time since mid-June on Tuesday, extending a recent selloff that has dragged down cryptocurrency prices.

At its lowest level today, the world’s largest token dropped to $99,982, according to Dow Jones Market Data. That is Bitcoin’s lowest level since June 23, when it hit $98,260.89. Bitcoin is down 20% from its record high of $126,272.62 hit on Oct. 6.

Other cryptocurrencies were down, too. Ethereum dropped 5% after a hack hit a decentralized finance protocol based on the token’s native network. Solana slid 8.5%, and XRP dropped 5.5%, per the Kraken crypto exchange.

Created with Highcharts 9.0.1Bitcoin priceSource: CoinDeskNote: XBX index shownAs of Nov. 4

Created with Highcharts 9.0.1June 2025Nov.95,000100,000105,000110,000115,000120,000125,000$130,000

The digital assets were struggling after several Federal Reserve policymakers on Monday said the central bank will have to look at the data before deciding whether to lower interest rates next month. When borrowing costs remain high, cryptos become less appealing relative to interest-bearing investments, such as bonds.

Crypto bulls are hoping Bitcoin can soon find a floor. The dip below $100,000 was brief; the crypto is now trading around $101,000.

“The market sits in a fragile equilibrium,” analysts for the crypto exchange Bitfinex said. “We are not yet in a capitulation phase from [top buyers], but they are showing signs of waning conviction.”

They added: “Unless the price recovers decisively above this range, time becomes a growing headwind for bulls, as prolonged stagnation historically erodes sentiment.”

Write to George Glover at george.glover@dowjones.com