While Bitcoin tumbles to its lowest point since June, BitMEX co-founder Arthur Hayes takes a contrarian stance, describing the correction as a rare accumulation opportunity amid widespread market fear.

Bitcoin faces mounting pressure after four consecutive days of losses, with on-chain metrics showing $2.75 billion in realized losses as short-term holders capitulate below their $113K cost basis.

Bitcoin struggles near $103,000 amid market-wide pressure, having lost key support levels. Analyst Axel Adler identifies the STH Realized Price and 200-day SMA ($106K-$107K) as crucial support, with $100K as the next major level if breached.

Spot Bitcoin ETFs recorded significant withdrawals with Ark Invest's ARKB leading at $275.2M, while Ethereum ETFs also faced outflows except BlackRock's ETHA, which gained $46.9M in investments.

Bitcoin experienced a notable decline on Friday, dropping from $109,300 to $103,000. While less severe than the October 10 crash, this movement has sparked debate about whether it represents a temporary correction or signals a bearish trend reversal.

Market prediction platform Polymarket indicates Bitcoin faces a 52% likelihood of falling under $100,000 this month, as the cryptocurrency continues its 7.40% decline despite initial October optimism.

Florida introduces HB 183 bill allowing state funds to invest in digital assets, with potential allocation of up to 10% per fund including the $218B pension system. The legislation details custody requirements and operational safeguards for Bitcoin and crypto ETFs.

Financial analyst Tom Lee predicts Ethereum will eventually overtake Bitcoin through dollar-dominance in tokenized assets, comparing the scenario to how equities surpassed gold after the 1971 gold standard ended.