The crypto market faced another wave of intense selling pressure on Tuesday, as Bitcoin briefly fell below the $100,000 mark for the first time in weeks.
Key Takeaways:
- Bitcoin drops below $100,000, down 6% in 24 hours.
- $1.67 billion in total crypto liquidations, led by ETH and BTC.
- Market cap slides to $3.29 trillion amid heavy volatility.
- Long positions take $1.46 billion in losses.
- November’s bullish trend for Bitcoin faces a major test.
The drop triggered massive liquidations across major exchanges, wiping out over $1.67 billion in leveraged positions within a single day.
At the time of writing, Bitcoin trades for $100.031, down by more than 6% in the last 24 hours. Ethereum’s losses were even steeper, sliding 12.5% to around $3,158. Both assets have recorded double-digit declines over the past week, signaling a deep correction following months of strong gains.
Billions Lost as Leveraged Traders Face Liquidation
Data from Coinglass reveals that more than 387,000 traders were liquidated in the past 24 hours. Ethereum leads the liquidation charts with $569 million, followed closely by Bitcoin at $539 million. Solana and XRP also saw heavy losses, contributing to the total wipeout. The largest single liquidation order came from a $47.8 million BTC/USDT position on the HTX exchange.
The liquidation heatmap shows that long positions were hit the hardest, with over $1.46 billion in long trades being forced out compared to around $210 million in shorts. This imbalance reflects the overextended bullish positioning that preceded the market correction.
Market Cap Falls to $3.29 Trillion
The total cryptocurrency market capitalization has dropped to $3.29 trillion, down nearly 7% in just one day. Bitcoin’s market cap now stands at roughly $2 trillion, while Ethereum’s has fallen to $388 billion. Despite the steep pullback, overall trading activity remains elevated, with Bitcoin recording a 24-hour trading volume of $95.6 billion and Ethereum surpassing $62 billion.
Analysts note that short-term volatility was likely amplified by automated liquidations and profit-taking after a long stretch of gains. While retail investors appear rattled, long-term holders and institutional participants have yet to show signs of panic.
November’s Bullish Reputation Tested
Historically, November has been one of Bitcoin’s strongest months, often associated with renewed rallies and strong inflows. However, this year’s market behavior challenges that pattern. Analyst Crypto Rover highlighted that although November tends to deliver the biggest monthly returns, the current price action suggests traders are struggling to sustain optimism amid global macroeconomic uncertainty.
NOVEMBER IS USUALLY THE MOST BULLISH MONTH FOR BITCOIN… pic.twitter.com/Lmkw4V0ugb
— Crypto Rover (@cryptorover) November 4, 2025
The next few days are expected to be critical. If Bitcoin can reclaim the $102,000–$105,000 zone, sentiment could stabilize. However, a decisive break below $95,000 may open the door to deeper corrections toward the $90,000 range.
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