Bitcoin Risks A 30 Percent Drop After $1.1 Billion Liquidation

Bitcoin’s price slipped to the lower end of its recent range as $1.1 billion in market liquidations swept through the crypto sector within 24 hours. The world’s largest digital currency dropped to nearly $106,000, marking a new weekly low on October 30.

The pullback came as the cryptocurrency market mirrored a drop in U.S. stock indices following another Federal Reserve interest rate reduction of 0.25%. 

Investors had hoped for a clear positive catalyst this week, such as a new U.S.–China trade deal to prevent additional tariffs on November 1 — but the outcome remains uncertain despite upbeat remarks from former U.S. President Donald Trump.

After meeting Chinese President Xi Jinping, Trump wrote on Truth Social that the two sides had “agreed on many things” and were close to resolving several more. His statement briefly boosted market sentiment, but traders quickly returned to risk-off mode.

Market liquidations and diverging Bitcoin outlooks

U.S. stock markets opened lower on Monday, while gold rebounded above $2,000 per ounce. According to CoinGlass, total crypto market liquidations surpassed $1.1 billion in a single day — suggesting that many traders’ macro bets didn’t play out as expected.

Market analysts are divided on Bitcoin’s direction.

Trader CrypNuevo described the decline as “usual” following the Fed’s decision, saying the market is merely “retracing the new imbalances created this evening.”

Source: X

He also noted that Bitcoin had just closed its final weekend gap on the Chicago Mercantile Exchange’s futures market — a move many traders watch closely.

However, not everyone shares that optimism. Trader Roman warned that Bitcoin could fall another 20–30% if U.S. stocks start to correct.

“So when the $SPX finally has some sort of retrace/correction, my guess is $BTC drops by a solid margin.,” he wrote on X, pointing out that Bitcoin has been moving sideways while stocks gained more than 40%. 

Source: X

Data from CoinGlass confirmed that October turned red for Bitcoin for the first time since 2018, breaking a six-year streak of monthly gains. Historically, October has averaged a 20% rise for Bitcoin since 2013 — a stark contrast to this year’s performance.

Bitcoin Monthly Return. Source: CoinGlass

Global forces still drive Bitcoin’s fate

The current market landscape underscores how global macroeconomic factors continue to shape cryptocurrency prices.

Bitcoin’s reaction to the Fed’s latest decision and the uncertain U.S.–China trade situation highlights just how sensitive digital assets remain to worldwide economic shifts — a reminder that even decentralized markets can’t fully escape traditional financial gravity.