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Bitcoin price dipped below $100,000. The largest cryptocurrency has entered a bear market, losing over 20% since its October high of $126,000.
Ethereum price loses 10% on heavy selling, but long-term confidence is reflected in institutional inflows in ETFs.
Analysts attribute it to over-leveraged traders and mass liquidations, rather than weakening fundamentals.
Crypto prices are all in red zone today. The market extended losses for the third straight day as major digital assets plunged deeper into the red zone. Bitcoin briefly fell below $99,000 for the first time since June, while Ethereum lost more than 10% of its value. According to analysts, this fall was due not to weakening market fundamentals but was spurred by mass liquidations and high leverage, and therefore, a technically driven correction across markets. Let’s see why the crypto market is down today based on CoinMarketCap data.
Bitcoin price briefly slid below $99,000 before recovering to trade around $102,254. The leading cryptocurrency was down 4.04% in the last 24 hours at press time. Its market cap stood at $2.04 trillion, and trading volume reached $123.5 billion.
This is the first time that the Bitcoin price has fallen below the $100,000 level since June 2025. The coin has entered bear market territory, down 20% from its record high of $126,000 on October 6. Such a sell-off wiped away over $1 trillion from the total crypto market cap in just one month.
Bitcoin lost the critical support at about $109,000 and now hovers near key technical levels. The next major support sits at around $99,000, which has historically held during market pullbacks.
Ethereum was down 7.64% to $3,347. The second-largest cryptocurrency in the market briefly touched the $3,000 level before rebounding to the range above $3,200. Ethereum has a market capitalization of $404 billion and a 24-hour volume of $83.3 billion, which indicates increased selling for ETH.
Solana dropped 4.06% to 158.29, while its market cap stands at $87.5 billion with trading volume at $12.6 billion. XRP price dipped 3.41% to $2.25, remaining the fourth-largest cryptocurrency with a market capitalization of $135.6 billion.
BNB fell 3.99% to $949.61, with a market cap of $130.8 billion. Dogecoin declined 2.59% to $0.1649, keeping a $25 billion market capitalization. Cardano decreased by 4.32% to $0.5337 with a market capitalization of $19.1 billion.
TRON bucked the trend, however, climbing 0.43% to $0.2854. Stablecoins showed strength, with Tether USDT at $1 and a market cap of $183.4 billion. At the same time, USD Coin USDC held at $0.9997 with a $75 billion market cap.
Also Read: Crypto Prices Today: Bitcoin Slips to $106,791, Ethereum Down 3.02%, Solana Sheds 6.81%
The sharp downturn is driven primarily by unprecedented levels of leverage rather than weakening fundamentals. The sell-off traces back to increased leverage that amplified market swings, especially a huge $20 billion liquidation event on October 10. An average of about 300,000 traders have been liquidated each day, creating cascading selling pressure.
Short-term holders have increased their loss-selling pressure, with approximately 30,300 BTC being deposited to exchanges while underwater in the last day alone. This shows the growing wave of panic selling among recent buyers. Data shows that every time Bitcoin's price tries to recover and reaches around $112,500, immediate profit-taking creates overhead resistance, making it difficult for the price to break upwards.
Many key developments dominate market sentiment today:
Richard Heart, the founder of Hex and PulseChain, has transferred 154,000 ETH valued at approximately $611 million into Tornado Cash since October 20. In the last seven hours alone, 113,671 ETH valued at $379 million was mixed. ETH was accrued in March 2024 at an average price of $3,779, so the transfers are being made at a loss.
Bitcoin mining firm Marathon Digital transferred 2,348 BTC worth roughly $236 million over the past 12 hours to platforms including Coinbase Prime, Galaxy Digital, and FalconX. The movements suggest that the miner may be preparing to sell a portion of its holdings amid recent volatility.
The report from Wintermute, a market maker, suggests the old four-year cycle doesn’t explain crypto price movements anymore. While global liquidity is expanding and major central banks are cutting rates, most new capital is moving into equities and AI, with very little into crypto. According to the firm, a meaningful rebound requires renewed inflows into spot ETFs and Digital Asset Trust products.
The Winklevoss brothers' Gemini exchange is preparing to unveil contracts for prediction markets, according to a Bloomberg report. If the US regulators approve, Gemini would join existing players like Kalshi and Polymarket.
Not all crypto news is bearish. Select tokens bucked the trend, including zkSync (ZK) up 12%, ICP up 15%, and DeAgentAI (AIA) surging 136%. A new Sui ecosystem token MMT jumped nearly 1900% since launch. Bitcoin ETFs have recorded inflows of close to 50,000 BTC over the past 30 days, suggesting continuous institutional accumulation despite the correction.
Crypto prices today are testing critical support levels across the board. Key resistance now rests between $111,000 and $113,000 for Bitcoin. Breaking this could trigger upward momentum toward $117,000 and, with favorable news, perhaps retest the all-time high at $126,000.
According to data on Binance, Bitcoin is trading below its moving average of $112,245, with unrealized losses representing only 0.06%. That is a very small percentage of traders still holding their coins at a loss, meaning most open positions have been opened at the current price or below.
Also Read: Crypto News Today: BitMine Expands Ethereum Holdings, DeFi Security Under Scrutiny, and Dogecoin Extends Losses
Market sentiment is cautiously optimistic going into November despite the correction. Analysts comment that the growth of crypto adoption, deregulation, and technological development continues at a record pace. November is historically a strong month for cryptocurrencies, and the seasonal factor could work in conjunction with rising institutional interest to support recovery. However, even if the bear case follows through, analysts believe the odds of Bitcoin slipping below $70,000 are minuscule, as institutional adoption fundamentally changes market dynamics.
1. Why did the crypto market fall today?
The primary reason for the contraction of the crypto market is excessive leverage and mass liquidations across exchanges. Over $20 billion in positions were obliterated, forcing panic selling even among long-term holders.
2. Why did Bitcoin fall below $100,000?
Bitcoin slipped below $100,000 after losing technical support placed near $109,000. Heavy liquidation, miner sell-offs, and investor profit-taking, which intensified around $112,000, exacerbated the decline despite continued ETF inflows.
3. Is this the beginning of a long-term crypto bear market?
Analysts say it is more of a short-term correction than a full-blown bear market. Institutional adoption, ETF inflows, and technological growth remain strong; hence, a recovery in the coming weeks might be possible.
4. How much has Ethereum dropped recently?
Ethereum has fallen by more than 10% in the last 24 hours to levels near $3,000, with a partial recovery to $3,347 thereafter. On-chain activity and developer momentum nonetheless sustain the optimism of long-term growth.
5. Should investors sell their crypto now or hold on?
Experts recommend patience over panic-selling. Historically, this is common in crypto cycles. In the long run, investors should look at fundamental factors such as adoption, ETFs, and blockchain innovation.
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