Bitcoin fell below $104,000 on November 4, hitting a two-week low and triggering $1.37 billion in leveraged position liquidations, with $1.2 billion from long positions, according to CoinGlass data. The decline coincided with ongoing spot Bitcoin ETF outflows and continued distribution by long-term holders. The Crypto Fear & Greed Index dropped to 21, its lowest reading in weeks, reflecting heightened caution among investors.

Digital asset investment products recorded $360 million in net outflows last week, with Bitcoin funds losing $946 million. Solana attracted $421 million in fresh capital—its second-largest weekly inflow on record—while Ethereum drew $57.6 million, data show.

Strategy announced an initial public offering of 3,500,000 shares of Series A Perpetual Stream Preferred Stock (STRE) at €100 per share. The offering carries a 10% annual cumulative dividend payable exclusively in cash, with the first distribution scheduled for December 31, 2025, subject to board approval. Proceeds will fund Bitcoin and other asset acquisitions.

Strategy has announced an initial public offering of 3.5 million shares of 10.00% Series A Perpetual Preferred Stock denominated in euros, trading under the symbol STRE. The company will use net proceeds for general corporate purposes, including Bitcoin acquisitions. The offering targets European and global institutional investors seeking structured exposure to Bitcoin markets.

Strategy CEO Michael Saylor projects Bitcoin could reach $150,000 by the end of 2025, describing this year as the first of institutional digital asset adoption. In a longer-term forecast, he predicts BTC may hit $21 million over 21 years, assuming approximately 29% annual appreciation.

Bitcoin fell 2% in early Asian trading, dropping below $107,000 as large holders took profits and ETF outflows continued. The decline extends weakness from October, when a major liquidation event on October 19 established bearish sentiment that persisted into November. Market participants view the move as consolidation following a volatile period.

Bitcoin began November trading below its recent consolidation levels amid market uncertainty. Analysts from The Bull Theory identify several factors that historically align with strong BTC performance in November, when the cryptocurrency has averaged 40–42% gains in past years. These catalysts include the resumption of government spending, corporate buyback programs, elevated Federal Reserve repo activity, and accumulated Treasury balances.

Strategy has filed to offer 3.5 million shares of euro-denominated perpetual preferred stock (STRE) to raise capital for bitcoin acquisitions and corporate operations. The company announced Monday it purchased 397 BTC for approximately $45.6 million, bringing total holdings to 641,205 BTC, according to a company statement.