Bitcoin's sharp decline, which began earlier today, has intensified in the past hour, pushing the asset to a two-week low of just over $105,000.
Altcoins have experienced significant losses once again. BNB has fallen below $1,000, ETH has dropped by over 6%, and SOL has plunged by more than 8% on a daily basis.
CryptoPotato previously reported on the initial wave of Bitcoin declines that occurred earlier today. At that time, the cryptocurrency was rejected at $111,000 and subsequently fell by approximately $4,000 to $107,000. Bitcoin managed to stabilize around this level for a period, even touching $108,000. However, bears initiated another downward movement about an hour ago, driving the asset down to $105,300, according to Bitstamp data.
This drop to multi-week lows has severely impacted over-leveraged traders. For Bitcoin alone, the total value of liquidated long positions has exceeded $300 million on a daily scale.
Even whales with historically strong track records have been affected. Lookonchain reported that Machi Big Brother has been fully liquidated, resulting in a total loss of over $15 million. Another trader, identified as 0xc2a3, who had maintained a perfect win streak until today, has "surrendered" by closing their BTC, ETH, and SOL long positions at a loss. Their total profit and loss has shifted from over $33 million to -$17.6 million.
The 100% win streak is over — trader 0xc2a3 has surrendered.
He closed all his $BTC longs and part of his $ETH and $SOL longs at a loss.
His total P&L has flipped from +$33M to –$17.6M.https://t.co/2I4Jrb3MUApic.twitter.com/3bSIXFG9JV
— Lookonchain (@lookonchain) November 3, 2025
Altcoin Market Performance
Most altcoins have experienced even more severe losses over the past 24 hours. Notable double-digit declines include ASTER (-20%), WLFI (-12%), APT (-12%), PEPE (-11.3%), WLD (-11%), and ARB (-11%), among others.
Larger market cap cryptocurrencies have not been spared from the downturn. Ethereum has fallen below $3,600 today, BNB is trading below $1,000 as of press time, XRP has lost its $2.40 support level, and SOL has dropped below $170 after an 8% decrease.
According to CoinGlass data, the total value of liquidated positions has surged to over $1.1 billion. In total, more than 300,000 traders have faced liquidation, with the single largest liquidation occurring on HTX, valued at nearly $34 million.