Bitcoin tumbled below $100,000, dropping over 4% to $97,451 and triggering broad market panic as sell-offs intensified. Ethereum and major altcoins also slid sharply, pushing sentiment toward extreme fear. Analysts say uncertainty over U.S. economic data and Fed policy is adding pressure, though long-term accumulation by whales signals underlying support.
Bitcoin plunged over 4% in the past 24 hours to trade at $97,451 level on Friday, crashing below the psychological barrier of $100K and creating panic across the markets as the sell-offs intensify.
Ethereum went down over 9% in the past 24 hours to trade at $3,151 level. Among the major altcoins, XRP, BNB, Solana, Tron, Dogecoin, Cardano, and Hyperliquid edged down over 8% in the same period.
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CoinDCX Research Team says the top altcoins like Ethereum, XRP, Solana, Dogecoin, etc., and a few more experienced some upward pressure but continue to trade above their respective support zones.
The crypto market sentiment is slowly heading to extreme fear as the BTC price loses the $100K threshold, while gold and silver rally, the CoinDCX Research Team added.
Bitcoin and Ethereum went down by 4.13% and 5.09% respectively in the past week. Major altcoins like XRP and Tron gained 3.23% and 0.91% respectively in the past week, whereas BNB, Solana, Dogecoin, Cardano, and Hyperliquid went down over 9% in the same period.
Edul Patel, CEO of Mudrex, says the crypto market continues to consolidate, with Bitcoin trading at $99,300 and Ethereum hovering at $3200. Although the U.S. government has reopened, delays in key economic reports have added short-term uncertainty around the Fed’s December rate decision.
“However, long-term sentiment remains strong as whales continue to accumulate, purchasing over 45,000 BTC in the past week. This steady demand shows confidence and helps build underlying market strength. For now, $96,000 acts as a key support for BTC, while the immediate resistance stands at $102,500,” Patel adds.
Crypto markets have shifted into a clear risk-off sentiment, moving in tandem with the broader pullback across global assets. The sharp rise in volatility, including more than $700 million in liquidations over the past day, shows traders rapidly scaling back leverage as expectations around monetary easing and near-term liquidity soften.
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Bitcoin On-chain patterns point to measured profit-taking by long-term players, a behaviour that typically appears in the later stages of an expansionary phase. Technically, BTC remains constrained beneath major moving averages, with immediate resistance around $101,500-$103,200 and key support near $98,500. A clean break of that floor could open room toward the mid-$96,000s.
Ethereum is under stronger technical pressure, declining more than 5% after surrendering the $3,350 level. Unless it recovers the $3,350-$3,500 zone, momentum is likely to stay defensive.
