Bitcoin's November crash: Whales offloading $45 billion worth
Bitcoin just slid to about $107,000—down nearly 15% from its October peak over $125,000.
The drop triggered over $400 million in liquidations across exchanges.
Unlike past crashes driven by risky futures bets, this one's mostly because long-term holders (aka "whales") are selling off huge amounts—about $43-$45 billion worth.
Slump could last for months
This break from Bitcoin's usual November rally has shaken both regular and big-money investors.
With fewer people buying and more whales selling, analysts say the slump could drag on for months unless new institutional buyers step in.
Options traders are even eyeing lower targets around $80,000, so the crypto rollercoaster isn't slowing down just yet.
Mid-sized holders also stepping back
A tougher US dollar and cautious signals from the Federal Reserve have made riskier assets like Bitcoin less appealing lately.
But the real driver is that whale sell-offs now far outweigh new buying—even mid-sized holders are stepping back—leaving Bitcoin vulnerable to deeper dips.