Bitcoin price descended to levels below $100,000 on the Coinbase exchange, during the afternoon hours of the US session on Tuesday.
It followed Ethereum’s move to turn negative for 2025, amidst the altcoin’s steepest daily drop in months.
Bitcoin Brief Breaks Below $100,000
While the US was busy with the New York mayoral elections on Tuesday, the Bitcoin price briefly slipped below the $100,000 mark on the Coinbase exchange.
SponsoredIt lasted only for a moment before a quick pullback, with BTC trading for $100,977 as of this writing. As of this writing, the intra-day low for the pioneer crypto was $99,908, levels that had last been tested on June 23, 2025.
With the latest drop, Bitcoin descended by over 20% from its October peak of $126,296 recorded early last month. The drop also eliminated excessive leverage from the market, potentially setting the stage for continued volatility amid broader market uncertainty.
Despite the broader downturn, some Bitcoin holders have been accumulating during the price decline. Analyst Joao Wedson says the area between $100,000 and $101,000 may be a good buying opportunity, contingent on the current BTC phase,
Elsewhere, Elliott Wave analysts say the bear market is expected to persist through late 2026. If this is true, the pioneer crypto could be poised for an extended period of downward pressure.
Meanwhile, bettors on prediction market Kalshi wager a significant chance that the Bitcoin price could still record further downside, some calling for as low as below $80,000.
This development comes shortly after Ethereum turned negative for 2025, having started the year near $3,353. The move marked a 7% daily plunge, its steepest drop in months.
