A Six-Figure Line Gets Crossed
Bitcoin slipped below $100,000 for the first time since May, printing lows of $99,954 on Coinbase before a swift rebound above $101,000. The move capped a 12% weekly drop and more than 20% off October’s all-time high near $126,000, stoking fresh anxiety that the bull run is wobbling. Across majors, Ethereum, XRP, Solana, and Dogecoin fell even harder, magnifying the sense of a market in risk-off mode.
Liquidations Surge as Traders De-Risk
In the past 24 hours, derivatives platforms saw roughly $1.3 billion in forced liquidations, with $1.1 billion from longs-bets on rising prices-flushed out. Bitcoin led with about $470 million liquidated, while Ethereum followed near $377 million. The rout echoes last month’s record $19 billion single-day wipeout, underscoring how thin liquidity and overleveraged positioning can amplify downside when macro shocks hit.
Macro Chill Meets Crypto Fragility
The slide arrives amid tariff saber-rattling with China, an ongoing U.S. government shutdown, and fading odds of a third Fed rate cut this year-conditions that siphon liquidity from risk assets.
Sentiment Whipsaws, But Dip Buyers Lurk
Just a day earlier, prediction markets were split on a push to $120K versus a slide to $100K; the break below six figures settled that debate-for now. Yet not everyone sees structural damage.
He expects digital-asset treasuries to be net buyers this quarter, betting on retests near all-time highs once positioning resets and spot demand steadies.
What to Watch Next
Short term, the market must absorb deleveraging aftershocks while monitoring Fed signaling, shutdown timelines, and any trade détente that could thaw risk sentiment. For Bitcoin, reclaiming and holding psychological round numbers-first $100K, then $105K-$110K-would ease volatility and encourage incremental risk back into majors. Until then, stablecoin inflows, funding rates, and open interest will tell the story of whether this is capitulation or just a healthy reset in a still-intact long-term uptrend.
