Bitcoin Retreats Toward $103K as Crypto Markets See Broad Profit-Taking – 11/11/2025

Crypto markets reversed Monday’s rebound on Tuesday, with Bitcoin (BTC) slipping back toward $103,000 after briefly topping $107,000 overnight. The largest cryptocurrency fell to $102,900 during U.S. trading hours, down 2.5% over 24 hours, erasing gains driven by President Donald Trump’s “tariff dividend” plan and optimism over an imminent U.S. government shutdown resolution.

Ethereum (ETH) fell 2.3% below $3,500, while large-cap altcoins including Solana (SOL $156.01), XRP ($2.38), and SUI ($2.01) dropped 4%-5%, signaling a broad pullback across digital assets.

The decline extended to crypto-focused equities, particularly bitcoin miners leveraged to the AI boom. CleanSpark (CLSK) fell 8%, Hut 8 (HUT) nearly 9%, and Core Scientific (CORZ) tumbled 11.5% early in the session. TeraWulf (WULF) and Bitdeer (BTDR) also posted double-digit losses.

Weakness was driven by disappointing earnings and outlooks across AI infrastructure plays. CoreWeave lowered its next-quarter guidance citing data center delays, dropping 15% to the lowest level since early September. TeraWulf reported weak earnings, while BitDeer faced deeper-than-expected losses and delays in next-generation ASIC chips.

Adding to market pressure, SoftBank sold its entire $5.8 billion stake in chipmaker and AI bellwether Nvidia (NVDA), sending its stock down 3.5%. The tech-heavy Nasdaq fell 0.7%, while the S&P 500 lost 0.3%.

Macro signals also weighed on markets: the ADP report showed U.S. private employers cut an average of 11,250 jobs per week in the four weeks ending Oct. 25, pointing to a weakening labor market. Fed rate cut expectations for December stand at roughly 67% via the CME FedWatch tool, slightly higher at 72% on Polymarket.

Bitcoin Remains Range-Bound

Tuesday’s drop filled a so-called CME gap formed over the weekend, where bitcoin futures on the CME open above or below the prior session’s close. While revisiting gaps is common, not all gaps are necessarily filled, noted CoinDesk senior analyst James Van Straten.

Traders are using recent rebounds in BTC and ETH to take profits, according to Jasper De Maere, OTC desk strategist at Wintermute. “When it comes to alts, the theme is still profit taking into strength, leading to short-lived outperformance,” he said. “Consensus is building that majors need to move higher first.”

BTC remains in a trading range between $100,000 and $110,000, consolidating, said Paul Howard, senior director at trading firm Wincent. “If U.S. macro conditions improve with the shutdown ending, the $100,000 floor should remain intact for BTC,” he added.