Bitcoin News: Retail Predict The Bottom is In, Huge Liquidation Targets Could See BTC Hit $126K

In Bitcoin News today, New York just elected Zohran Mamdani, its first socialist mayor, who has odd parallels to Donald Trump:

• Widely considered unelectable
• DNC tried to bury his campaign.
• Every mainstream media source on the planet condemns him, even the freaking New York Times says “vote anyone but him”.
• Inspires numerous copycats all over the country, also running on affordability and economic reform.
• Wins the general anyway with a straight majority.

With that said, both have totally different views on crypto and

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. According to The Street, Mamdani campaigned on “maintaining a reserved public stance on cryptocurrency,” in stark contrast to the pro-crypto policies of the current mayor, Eric Adams.

In one interview, he was quotedas  saying: “I don’t think that we should have billionaires because, frankly, it is so much money in a moment of such inequality.”

BREAKING: Zohran Mamdani wins NYC Mayor race, as projected first by @Polymarket.

Polls are dead. Prediction markets are now. #crypto pic.twitter.com/cMpCBt3Ek0

— Altcoin Daily (@AltcoinDaily) November 5, 2025

So will all of this continue to plummet Bitcoin, or maybe support it since Mamdani is young and fresh, and is the bottom in for BTC? Here’s what to know:

DISCOVER: 20+ Next Crypto to Explode in 2025

Bitcoin News: Retail Fear Hits Peak as Sentiment Collapses

A viral Reddit analysis this week argued that Bitcoin has exhausted its downside. The post highlighted three factors: 1) an extreme skew in liquidation levels, 2) bearish public sentiment, and 3) support at the 50-week moving average. Together, the indicators paint a picture of a market that’s oversold and ready to reverse.

“Bear markets don’t happen when everyone is short,” the post said. “The flush always happens when everyone is long. Until 89K we only have $1.68B under us, compared to $18.3B in liquidations above. That’s a 1:20 ratio.”

The Fear and Greed Index currently sits around 27, suggesting deep fear. Following Monday’s 3% dip, it could drop to 20 levels, which are typically seen at cycle bottoms. On social media, calls for a “new bear market” have become ubiquitous. Even CNBC’s Jim Cramer declared Bitcoin’s bull run over, which, as we all know with Cramer’s shoddy track record, should be good news!

Technicals show Bitcoin holding steady at its 50-week SMA, historically a key reversal zone. 99Bitcoins analysts warn that a break two weeks below this level could confirm a larger downtrend, but so far, buyers continue to defend the range.

Bitcoin ETF Flows Tell a Different Story

Bitcoin ETFs bled $800 Mn last week, enough to rattle the weak hands, yet the full month shows $3.4 Bn in inflows, according to CoinGlass. The big money hasn’t left despite fears of recession or New York’s first socialist mayor.

Moreover, in their Connecting the Dots newsletter, London Crypto Club analysts David Brickell and Chris Mills said they believe “the peak in US liquidity tightening” is now behind us.

“The Fed announced an end to quantitative tightening from December 1,” London Crypto Club wrote. “That’s the end of the liquidity drain. From there, the Fed’s balance sheet will start rising again.”

Once the US government shutdown ends, Treasury spending and bank reserves are expected to expand further, amplifying liquidity and risk appetite.

DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025

Bitcoin’s Next Move: Reconnect to the Risk Trade

While short-term volatility remains for BTC, many analysts don’t see BTC dipping under $100k, but maybe testing it.  The market backdrop – cooling inflation, a looser Fed, and fading bearish sentiment – looks eerily similar to past cycle bottoms.

If history rhymes, Bitcoin’s next major move may explode up in Q4.

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