Bitcoin fell below $104,000 due to investor worries over the government shutdown and economic slowdown. Large investors have been selling off their holdings, causing market weakness. Long-term holders have sold over 1 million bitcoin since June, with retail buyers less active. Fundstrat predicts a $150,000-$200,000 price range by year-end. Shutdown extension could delay TGA drawdowns, affecting liquidity and market sentiment. Farrell believes ending the shutdown could boost bitcoin prices, remaining optimistic for year-end. Manufacturing sector contracted for eight consecutive months, adding to market uncertainty. Fed Chair Powell’s reluctance on a December rate cut also spooks investors. Support for bitcoin above $95k, but lack of near-term catalysts. Retail buyers less active than in previous cycles, ETF inflows slowing down. Uptober failed to materialize, following a 37% decline in November 2018.

Read more at Yahoo Finance: Bitcoin tumbles at $104,000 as selling pressure mounts, government shutdown ‘stalls’ tailwinds