SoftBank has sold its holdings in Nvidia, and Bitcoin has fallen back to 103K. Could 100,000 dollars be the mid-term bottom?

Due to SoftBank liquidating its Nvidia holdings, the artificial intelligence zone is under pressure, and funds are shifting to other zones. The Dow Jones index surged over 500 points, setting a new historical closing high. Bitcoin (BTC) has fallen from yesterday's high of 107K, reporting above 103K before the deadline, while Ether (ETH) also dropped to around 3,400. The research director of BRN stated that Bitcoin's price movement this week may indicate the first true consolidation since the deleveraging wave in October and early November, with 100,000 potentially being the mid-term bottom.

SoftBank liquidated its holdings in Nvidia, reallocating funds to other zones.

Due to heightened concerns over AI valuations, the artificial intelligence zone is under pressure. SoftBank Group announced that it has sold all of its shares in Nvidia to fund its own AI development. Weakened by Nvidia's decline, the semiconductor sector plummeted by about 2.5%. AI cloud infrastructure provider CoreWeave disappointed investors with its earnings guidance, and its stock price fell by more than 16%.

The report released by ADP shows that during the four weeks ending October 25, the private sector added an average of more than 11,000 jobs per week, indicating signs of weakness in the labor market.

Investors are shifting funds from technology stocks to other zones with lower valuations, causing the Dow Jones index to experience a big pump of over 500 points and set a new historical closing high. The market believes that the record government shutdown in the United States may be coming to an end. The Senate passed a funding bill on Monday evening and sent it to the House for a vote, which could take place as early as Wednesday. However, even if the shutdown ends this week, the latest data may still take time to be released.

Bitcoin fell back to 103K, and 100K may be the mid-term bottom.

The overall cryptocurrency market cap fell by 3.22% to $3.46 trillion, with Bitcoin dropping from yesterday's high of 107K to above 103K before the press time, while Ether also fell to around 3,400. The Fear and Greed Index slightly rebounded to 31, but still remains in the fear zone.

BRN Research Director Timothy Misir stated that the price movement of Bitcoin this week may indicate the first real consolidation since the de-leveraging wave in early October and November.

“The market sentiment has shifted from fear to caution, which is often a sign of resilience. Spot trading volume is increasing, leverage is being cleared, and the market structure is becoming clearer. We see the market quietly rebuilding.”

Digital asset financial companies (DAT) including MicroStrategy, Strive, and BitMine are still continuously buying Bitcoin and Ether, along with a 2.6% decrease in open interest, indicating that funds are shifting from speculative leverage to spot buying.

Misir stated that this type of layout usually lays the foundation for a continuous recovery, and the range of $100,000 to $108,000 may currently become the mid-term bottom.

“The upward momentum is strengthening, but unless the capital inflow accelerates, the upward space will still be limited to around $108,500 to $111,000.”

This article discusses SoftBank liquidating its NVIDIA holdings, Bitcoin falling back to 103K, and whether 100,000 dollars could be a mid-term bottom? First appeared in Chain News ABMedia.