Magic Eden/Bitcoin (MEBTC) experienced a 3.5% decline, closing at $3.98 on November 3, 2025, amid a strong sell-off. The sell-off intensified after 03:00 ET, with trading volume spiking during the downturn. Technical indicators signal bearish momentum, as the Relative Strength Index (RSI) fell below 30, indicating oversold conditions. Additionally, a death cross formed on the 15-minute chart as the 20-period EMA crossed below the 50-period EMA. The Bollinger Bands expanded, reflecting increased market volatility, with the price nearing the lower band, suggesting a potential mean reversion. A support level is emerging between $3.85 and $3.89, which may be tested in the coming 24 hours.