Most top altcoins plummeted too, with Ethereum dipping to under $3,700 and Solana to $179.
The crypto market’s latest bearish flip has seen Bitcoin price plummeting to around $106,411, its lowest value since dipping to near $104,000 on October 17.
With overall weakness across risk assets, Bitcoin’s sharp drop wiped out billions in market value and triggered widespread liquidations that topped $1 billion as of writing on Oct. 30, 2025
Notably, this sell-off comes amid macroeconomic pressures, including uncertainty over Federal Reserve interest rate policies and disappointing corporate earnings from tech giants.
As noted, Bitcoin experienced a sharp decline on October 30, 2025, falling to a low of $106,411 as broader crypto weakness intensified.
This drop came alongside a tumultuous day in traditional markets, where stocks also tanked, led by the Nasdaq Composite.
The tech heavy index fell more than 1.4% and the S&P 500 lost over 0.8% as stocks pared recent gains.
Weakness in crypto mirrors the broader financial landscape, where Federal Reserve Chair Jerome Powell’s cautious stance on a potential December rate cut added to the uncertainty, contributing to the decline in equities.
As such, market sentiment has turned increasingly bearish, with predictions suggesting further downside pressure.
Traders on betting platform Polymarket now see a 61% chance that Bitcoin will dip below $100,000 before 2026.
This is a notable increase in probability that underscores growing pessimism among participants.
However, analysts are bullish still, with BTC having tanked to lows near $100k and bounced hard in subsequent sessions.
Broader market turmoil has culminated in liquidations surpassing $1 billion over the past 24 hours, with this coming as leveraged positions were forcibly closed amid cascading price drops.
Data indicates that long positions bore the brunt, accounting for the majority of losses, with Bitcoin liquidations alone totaling around $424 million.
Ethereum followed with substantial wipeouts estimated at $317 million, while Solana saw approximately $79 million in liquidations.
While these figures pale in comparison to the $19 billion wiped out recently, they are still one of the largest single-day events in recent months.
Coinglass data shows the liquidations hit 237,311 traders, with largest single liquidation being $21.4 million in BTC-USD on Hyperliquid.
Data nonetheless shows more traders stand to be wiped out if BTC jumps above $112,000.
All top 10 altcoins by market capitalization have tanked in tandem, with Ethereum dropping to $3,680, BNB to $1,050 and XRP to $2.36.
