Bitcoin Weakens at Asia Market Open as October’s Heavy Selling Pressure Continues Into the New Month
Bitcoin entered November with a downward move, extending the negative energy that dominated the final days of October. During the early Asian session, traders witnessed fresh selling activity, showing that the market still has not recovered from the recent wave of profit-taking and short-term fear.
Over the past several weeks, Bitcoin had shown strong performance and tested multiple resistance levels. However, towards the end of October, the market began to cool down. Many traders who accumulated gains during the previous rallies started locking in profits. Instead of waiting for higher targets, they chose to exit positions and protect their earnings. That selling momentum has not disappeared, and it is now being felt again as November trading begins.
Professional market analysts are pointing to three major factors driving this extended weakness:
1. Lack of fresh liquidity entering the market
New money inflow has slowed down. Data from several on-chain trackers is showing fewer new addresses adding large positions, which means the demand that drove Bitcoin higher earlier is no longer at the same level. When there is not enough buying power to balance the selling activity, the price naturally trends lower.
2. High futures leverage and liquidations
Futures traders have recently been taking more aggressive long positions, expecting another breakout. But when price begins to fall, those leveraged positions start to get liquidated, which adds more sell volume into the market. This creates a chain reaction: price drops → liquidations increase → more sell orders are triggered automatically.
3. Global macro uncertainty
The crypto market is also reacting to global economic expectations. Investors are waiting for the next U.S. Federal Reserve statements, inflation figures, and interest rate updates. When macroeconomic signals are not clear, traders tend to reduce risk exposure. Bitcoin, being a high-volatility asset, often becomes the first target to sell or reduce during uncertain times.
At the same time, long-term Bitcoin believers are not shaken. They argue that short-term selloffs are not a sign of weakness in fundamentals, but a natural part of the cycle. Historically, Bitcoin has always experienced correction phases before moving into new higher territory. These short-term pullbacks often allow big players to accumulate again at lower ranges before the next growth wave.
Another interesting observation is that Bitcoin continues to attract institutional curiosity, especially with the expansion of crypto ETFs, custody products from large financial firms, and more acceptance inside traditional investment portfolios. These developments indicate that the long-term narrative remains supportive.
Still, for now, market direction for November is not clear. Traders are watching closely to see if Bitcoin can form a new support zone or if the selling pressure will continue pushing price lower before finding stability. Several experts believe that the first two weeks of November will determine whether Bitcoin enters a period of sideways accumulation, or if deeper correction is coming.
The market remains in a state of cautious waiting. Bulls need stronger volume to regain control. Bears currently have a slight advantage. The next major price move will depend heavily on whether buyers finally step in with enough force to stop this extended selling momentum — or whether November will begin as another month driven mostly by downward pressure.
Source: Cryptonews Edited by Sonarx