BTC News: Retail Anticipates the Bottom is Established, Significant Liquidation Objectives Could Propel BTC to $126K
In today’s Bitcoin News, New York has elected Zohran Mamdani as its first socialist mayor, who shares surprising similarities with Donald Trump:
- Often deemed unelectable
- DNC attempted to suppress his campaign.
- Every major news outlet globally criticizes him, with even the New York Times stating “vote for anyone other than him.”
- Motivates numerous imitators nationwide, also focusing on affordability and economic reform.
- Secures victory in the general election with a clear majority.
That said, they differ greatly in their perspectives on crypto and
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. As reported by The Street, Mamdani ran with a focus on “maintaining a cautious public position on cryptocurrency,” which contrasts sharply with the pro-crypto stance of current mayor, Eric Adams.
In a recent interview, he remarked: “I believe we shouldn’t have billionaires because, honestly, that represents an overwhelming amount of wealth amidst such inequality.”
BREAKING: Zohran Mamdani has been declared the winner of the NYC Mayor race, as first reported by @Polymarket.
Polls are obsolete. Prediction markets prevail. #crypto pic.twitter.com/cMpCBt3Ek0
— Non-BTC crypto Daily (@AltcoinDaily) November 5, 2025
So will all of this lead to further decline for Bitcoin, or could it possibly boost it since Mamdani is youthful and innovative, and is the low point for Bitcoin already reached? Here’s what you need to be informed about:
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Bitcoin News: Retail Fear Peaks as Sentiment Dips
This week, a trending Reddit analysis suggested that Bitcoin has reached the limits of its downturn. The article pointed out three key factors: 1) a significant discrepancy in liquidation levels, 2) negative public sentiment, and 3) support found at the 50-week moving average. Together, these indicators create a picture of a crypto market that is undervalued and poised for a reversal.
“Bear markets do not occur when everyone is short,” the article claimed. “The shakeout happens when most are long. Up until 89K, we have only $1.68B below us, in contrast to $18.3B in liquidations above. That’s a 1:20 ratio.”
The Fear and Greed Index is currently at around 27, indicating significant fear. After Monday’s 3% decline, it may fall to 20 levels, which are usually indicative of cycle bottoms. On social platforms, appeals for a “new bear market” have grown commonplace. Even CNBC’s Jim Cramer claimed the end of Bitcoin’s bull run, which, judging by Cramer’s shaky track record, might be seen as encouraging!
Crypto Fear and Greed Chart
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Technicals indicate that Bitcoin remains stable at its 50-week SMA, which historically has been a critical reversal zone. Analysts from 99Bitcoins caution that a break below this level for two consecutive weeks could confirm a more extensive downtrend, but thus far, buyers are defending this range.
Bitcoin ETF Flows Indicate a Divergent Trend
BTC ETFs witnessed an outflow of $800 million last week, sufficient to unsettle the weaker investors, but the total for the month shows an inflow of $3.4 billion, according to CoinGlass. The substantial money has not exited despite recession fears or New York’s first socialist mayor.
Furthermore, in their Connecting the Dots newsletter, analysts David Brickell and Chris Mills from London Crypto Club assert that they believe “the highest point in US available volume tightening” is now behind us.
“The Fed has signaled an end to quantitative tightening effective December 1,” stated the London Crypto Club. “This marks the conclusion of the liquidity drainage. Following this, the Fed’s balance sheet will begin to grow again.”
Once the US government deadlock ends, an increase in Treasury spending and bank reserves is anticipated, further boosting market fluidity and risk appetite.
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Bitcoin’s Upcoming Moves: Reengage with Risk Trade
Although BTC may experience short-term fluctuations, several analysts believe Bitcoin is unlikely to drop below $100k, but potentially test that level. The market landscape — decreasing inflation, a more lenient Fed, and diminishing downtrend sentiment — closely resembles previous cycle bottoms.
If historical patterns repeat, Bitcoin’s next significant movement may soar in Q4.
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Key Takeaways
- In BTC News today, New York has elected Zohran Mamdani, its first socialist mayor, who has unusual parallels to Donald Trump.
- Following the end of the US government shutdown, Treasury spending and bank reserves are projected to grow further.
The post BTC News: Retail Predict The Bottom is In, Huge Liquidation Targets Could See BTC Hit $126K appeared first on 99Bitcoins.
