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Crypto sell-off pushes bitcoin below $100,000, ether sheds 10%: CNBC Crypto World

Name: Crypto sell-off pushes bitcoin below $100,000, ether sheds 10%: CNBC Crypto World
Uploaded: 2025-11-04T21:47:47Z
Description: On today's episode of CNBC Crypto World, bitcoin drops below $100,000 for the first time in more than four months as the November crypto sell-off continued. Plus, Sam Bankman-Fried's legal team argued for a retrial before a federal appeals court. And, Bitwise CIO Matt Hougan discusses how the Bitwis

11/4/2025, 9:47:47 PM

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Economic Summary

Crypto markets weakened alongside risk assets, with Bitcoin briefly dipping below $100,000 and Ether down over 8%, reflecting investor concerns about stretched valuations and correlated flows into AI and crypto.
Legal and regulatory developments — Sam Bankman-Fried seeking a retrial and political scrutiny around CZ's pardon and related stablecoin deals — are creating headline risk that can suppress crypto investor confidence.
Institutional product innovation is accelerating: Bitwise's BESOL (a 100% direct-exposure Solana staking ETF) attracted about $417 million in its first week, suggesting strong investor appetite for regulated, yield-bearing crypto exposures and potential broader ETF adoption.
Macro adoption thesis: stablecoins and tokenization gains (aided by legislation like the Genius Act and corporate moves such as Western Union launching a stablecoin on Solana) are argued to make blockchain rails increasingly central for payments and asset transfer.

Bullish

Bitwise's BESOL saw rapid inflows, showing strong demand for Solana exposure.
BESOL stakes 100% of Solana, offering ~7% yields plus price upside.
Western Union launching a stablecoin on Solana signals real-world adoption.
More spot altcoin ETFs (e.g., XRP, ETH) expected, broadening retail access.

Bearish

Broad risk-off selling dragged crypto down, with Bitcoin briefly below $100,000.
Ether fell over 8% amid the sell-off, signaling contagion across major tokens.
Regulatory and legal headlines (SBF retrial, CZ pardon scrutiny) weigh on sentiment.
High valuations in AI-linked stocks prompt same investors to reduce crypto exposure.

Bullish tickers

BESOLSOLETHXRP

Bearish tickers

BTCETHSOLPLTR

BTC

2 price targets

100000101217

Bullish

Still trading near six-figure levels and seen as core crypto exposure despite pullbacks.

Bearish

Bitcoin sold off below $100,000 amid market-wide risk-off, reflecting heightened volatility.

ETH

Bullish

Expected to benefit from staking ETF upgrades and remains a leading smart-contract platform.

Bearish

Ether dropped over 8% during the sell-off, showing sensitivity to broader risk sentiment.

SOL

1 price targets

160

Bullish

Seen as having large upside potential with growing adoption and institutional demand via BESOL.

Bearish

Solana's token fell more than 5% amid the market pullback and correlated selling.

PLTR

Bullish

Reported solid quarterly results, though valuation concerns persist.

Bearish

Palantir sold off on concerns about its high valuation despite solid earnings.

BESOL

Bullish

Rapid inflows and 100% staked Solana exposure with ~7% yields indicate strong demand.

Bearish

Newness and concentrated exposure to SOL could lead to volatility for BESOL investors.

XRP

Bullish

Potential candidate for upcoming spot ETFs, expanding access if approved.

Bearish

Regulatory uncertainty and market volatility could delay ETF rollouts and weigh on XRP.

Bullish

Western Union launching a stablecoin on Solana signals institutional adoption of blockchain rails.

Bearish

Traditional payment players face execution and adoption risk when launching stablecoin solutions.

People mentioned

Talia KaplanSam Bankman-FriedMatt HoganRichard TangShengpeng ZhaoDonald TrumpElizabeth WarrenCaroline Leavitt