The price of Bitcoin continued plunging Tuesday, falling below the $100,000 mark for the first time in six months. Other top coins are falling even harder, driving $1.3 billion in liquidations over the past day.
Bitcoin touched as low as $99,954 on crypto exchange Coinbase and $99,990 per price tracker CoinMarketCap before rebounding above $101,000, off more than 5% over the past 24 hours.
The leading cryptocurrency by market capitalization has fallen about 12% over the past week and more than 20% since setting a new all-time high above $126,000 in early October.
The last time Bitcoin dropped below six figures was in early May.
“We are still facing the aftermath of Crypto’s Black Friday. With $20 billion liquidated, many investors and traders have withdrawn funds from risk assets,” Brian Huang, co-founder and CEO of Glider, a provider of crypto portfolio management services. “There’s a clear rotation into stablecoins, which have reached all time highs in circulation.
Just 24 hours ago, when Bitcoin was priced around $107,000, Myriad users were mixed on whether Bitcoin was set to rise to a price of $120,000 or fall to $100,000. At the time, users predicted a roughly 44% chance of BTC rising to $120,000, though those odds crumbled in recent hours as Bitcoin fell.
ETH showed a nearly 10% daily dive to below the $3,300 mark, with XRP falling 7.5% to $2.17, Solana dropping 8% to $154, and Dogecoin down about 7% to $0.157.
Some $1.3 billion worth of positions have been liquidated over the past 24 hours from CoinGlass, outpacing the $1.1 billion tally seen Monday morning after previous losses. Over $1.1 billion of those came from long positions, or bets that the price of an asset will rise.
Bitcoin leads the liquidation pile with $470 million worth, followed by Ethereum at about $377 million.
Crypto has been flying high for most of the year, with Bitcoin repeatedly setting new high marks—most recently on October 6—and coins like Ethereum and XRP breaking multi-year records of their own in recent months.
But it’s been a bumpy few weeks, with a record-setting day of $19 billion worth of crypto liquidations last month following President Trump’s latest round of tariff threats against China—one of the macro factors impacting Bitcoin’s performance.
Bitcoin has also tumbled amid the ongoing government shutdown—the longest full closure in history—along with liquidity concerns and dwindling prospects of a third U.S. interest rate cut before year’s end.
UPDATE (November 4, 2025, 2:39 p.m. ET): Updates price information and adds quote.
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Source: https://decrypt.co/347305/bitcoin-crashes-under-100k-first-time-since-may-liquidations-hit-1-3-billion
