Bitcoin Crashes Below $106K: Over $1B Liquidated in 24 Hours – What’s Next for Crypto in 2025?
- Why Did Bitcoin Suddenly Drop Below $106,000?
- Altcoins Got Absolutely Demolished – Here’s the Damage
- Traditional Markets Aren’t Safe Either
- Why Analysts Still Believe in $200K Bitcoin
- The Million-Dollar Question: Winter or Spring Ahead?
- FAQ: Your Bitcoin Crash Questions Answered
Bitcoin’s brutal November sell-off continues as the king of crypto plunges below $106,000, wiping out nearly all gains since October’s crash. With altcoins bleeding even harder (Ethereum under $3,600, Solana/BNB/Doge down 10%), Leveraged traders got wrecked – $1B+ positions liquidated in a single day. While panic spreads, bulls like Tom Lee still predict $200K BTC by year-end. Is this the dip before the rip, or the start of crypto winter 2.0? Let’s break down the carnage.
Why Did Bitcoin Suddenly Drop Below $106,000?
November kicked off with a crimson splash across crypto charts. bitcoin nosedived 4% to $105,500, erasing most of its recovery since the October 10 crash. According to CoinGlass data, this triggered overin leveraged position liquidations – a classic domino effect where forced selling accelerates price drops. The BTC weekly chart now shows an 8% loss, dragging prices to monthly lows. "This is textbook market fragility," notes the BTCC research team. "When leverage flips from rocket fuel to napalm, these liquidations become self-fulfilling prophecies."
Altcoins Got Absolutely Demolished – Here’s the Damage
While Bitcoin bled, altcoins hemorrhaged:
- Ethereum (-7% daily, -14% weekly) collapsed below $3,600
- Solana, BNB, Dogecoin, and Cardano each dropped 8-10%
Traditional Markets Aren’t Safe Either
Monday’s AI-stock rally fizzled faster than a meme coin pump:
- Nasdaq futures dipped 0.5% after early gains
- Crypto-correlated stocks like Coinbase fell 3%
- Even Grayscale’s Bitcoin Trust (GBTC) dropped 3%
Why Analysts Still Believe in $200K Bitcoin
Amid the bloodbath, FundStrat’s Tom Lee doubled down on his $200,000 year-end BTC price target during a CNBC interview: "Fundamentals haven’t changed – institutional adoption, halving effects, and ETF flows should drive prices up after this consolidation." His optimism echoes MicroStrategy’s recent $5.3M BTC purchase at $105,000. Still, even Lee admits the path won’t be smooth: "Volatility is the price of admission in crypto markets."
The Million-Dollar Question: Winter or Spring Ahead?
With extreme volatility and $1B+ liquidations, crypto’s near-term future hinges on two factors:
- Whether Bitcoin can reclaim $110K as support
- If institutional buyers step in at these levels
FAQ: Your Bitcoin Crash Questions Answered
How much was liquidated in the Bitcoin crash?
Over $1 billion in leveraged crypto positions were liquidated within 24 hours as Bitcoin fell below $106,000 on November 4, 2025 (per CoinGlass data).
Which altcoins dropped the most?
Solana (SOL), Binance Coin (BNB), Dogecoin (DOGE), and Cardano (ADA) all fell 8-10%, underperforming Bitcoin’s 4% drop. Ethereum (ETH) lost 7% in 24 hours.
Is Bitcoin still expected to hit $200K in 2025?
Analyst Tom Lee maintains his $200,000 year-end target, though the path may involve more volatility. The BTCC team notes that Bitcoin has historically seen 30-40% corrections during bull markets.
