Bitcoin recently dipped below the $104,000 threshold for the first time in three weeks, sparking a downturn across the broader cryptocurrency market. Solana witnessed the sharpest drop, falling to its lowest level since summer at around $155. This reversal of fortunes follows an initial optimistic outlook for Q4, which saw Bitcoin break through new all-time highs and then experience a dramatic shift towards bearish sentiment. Analysts attribute this shift in mood to growing concerns about market volatility and external factors like political uncertainty and high inflation. The shift is evident in key market indicators such as the Fear & Greed Index, now at an extreme level of fear (21) This reflects a decline in investor confidence and a potential for further downtrend. Additionally, data shows Bitcoin saw net outflows of roughly $185 million while Ethereum witnessed $135 million in outflows from exchange funds according to SoSoValue data. Conversely, Solana witnessed inflows of around $77 million – its highest ETF inflow yet. Prediction markets are also reflecting growing caution as the odds of Bitcoin falling below $100,000 this month have climbed to 72% on Polymarket. Despite a challenging Q4 marked by global pressures and political risks, some bulls remain optimistic for a late-cycle rebound, citing November seasonality as a potential catalyst for short-term momentum.