Bitcoin has officially fallen below the $100,000 psychological threshold, plunging to around $99,750 in late trading on November 4, 2025. The drop, more than 6.4% in 24 hours, marks one of the steepest single-day corrections in months and comes amid widespread market liquidations and rising macroeconomic uncertainty.
$250 Billion Vanishes From the Crypto Market
The downturn wiped out over $250 billion in total crypto market capitalization in just one day, with losses spreading across every major sector. According to CoinMarketCap, global crypto market cap has now slipped to $3.44 trillion, down nearly 7% from the previous session.
- •Ethereum (ETH) led the decline, plunging 10.5% and erasing nearly $50 billion in value.
- •Bitcoin (BTC) fell 5.8%, accounting for the largest share of total market losses.
- •XRP, BNB, and Solana each dropped between 7–8%, deepening the red across the altcoin market.
Analysts describe this as one of the most synchronized sell-offs since mid-2024, as both institutional and retail investors moved to reduce exposure amid a tightening global liquidity backdrop.
Liquidations Surge as Leverage Unwinds
Over $1.1 billion in leveraged positions were liquidated in the past 24 hours, with more than 70% of those from long positions. Exchange data shows over 330,000 traders affected, as Bitcoin and Ethereum both broke below key support zones.
“We’re seeing a full-scale leverage flush,” one derivatives analyst said. “Markets were overextended, and this reset could be healthy in the long term, but for now, it’s brutal.”
Analysts Warn of a “Critical Moment”
Market strategists remain divided on whether this marks the start of a deeper correction or a final shakeout before recovery. Markus Thielen of 10x Research noted that a daily close below $100K would open the door to further downside toward $94,000, while others see this as a capitulation event that could set up for a rebound later in November.
Ethereum’s 10% loss has also reignited debate over the ETH/BTC ratio, which recently touched levels last seen before previous Altcoin Seasons, hinting that a rotation could follow once volatility stabilizes.