Bitcoin price falls below $97,000 as analysts warn the worst is yet to come

The total crypto market cap is declining by approximately $200 billion every day.

The cryptocurrency topped $107,000 just three days ago after Trump promised to send tariff checks of at least $2,000 to some Americans and hinted that the government shutdown could end soon. However, Bitcoin failed to capitalize on this momentum and quickly fell back to $103,000.

Nevertheless, it recovered to $105,000 on Wednesday before the bears took full control of the market, especially on Thursday. The POTUS signed legislation to reopen the government, which was first followed by an immediate revival, but soon after, the landscape changed for the worse.

In less than a day, Bitcoin has dumped by more than eight thousand dollars and is currently struggling below $97,000, which is the lowest since early May.

Doctor Profit, who has been bearish on the asset for weeks, believes the worst is yet to come, predicting another plunge to somewhere around $90,000 and $94,000.

#Bitcoin: The first promised target of the 90-94k region is about to be reached. Important to note that I will not be taking profits from the short position in the 90-94k region! https://t.co/p6qQqxsaor pic.twitter.com/Rhamwixvct

— Doctor Profit 🇨🇭 (@DrProfitCrypto) November 14, 2025

The altcoins followed suit with multiple double-digit price drops. AAVE, ENA, RENDER, SUI, PEPE and LINK are also down more than 12%. Even the largest of the bunch is down more than 11% and is now struggling well below $3,200.

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The total value of destroyed positions has skyrocketed to nearly $1.1 billion daily. The largest liquidated position, according to CoinGlass, was on HTX and was worth a whopping $44.29 million. The number of bankrupt traders is over 240,000.

Naturally, longs represent the lion’s share, at $966 million. Short liquidations are worth $124 million at the time of writing.