Bitcoin Plunges Below $107K During US Trading Hours - Record $377M Long Positions Liquidated
Bloodbath on Bitcoin Street as the king crypto crashes through critical support levels.
The Great Liquidation
Over-leveraged bulls got absolutely crushed today as BTC sliced through the $107,000 level like a hot knife through butter. The cascade of long liquidations hit a staggering $377 million in just 24 hours - talk about a margin call massacre.
US Trading Hours Carnage
When Wall Street woke up, the selling pressure intensified. American traders piled on the pain, proving once again that traditional market hours still matter in this 24/7 casino we call crypto.
Reality Check for Perma-Bulls
Just when everyone thought we were heading straight to the moon, gravity decided to make a comeback. These violent corrections serve as expensive reminders that in crypto, what goes up 100% can definitely come down 20% in the blink of an eye. Another day, another opportunity for hedge fund managers to justify their outrageous fees while retail gets rekt.
BTC dipped under $107,000 as sentiment remained fearful. | Source: Coingecko
The crypto market as a whole saw $963.63M in total liquidations, with over $855M liquidated longs. BTC still has some positions to be liquidated as low as $105,000, but the price drop has swept most of the easily available long positions.
During the latest round of liquidations, Hyperliquid remained the main venue, surpassing the liquidation levels on Binance derivative markets. The volatility on derivative markets followed a recent attempt to revive spot trading as a less risky option.
As with other rapid BTC slides, other assets reacted even more strongly. ETH dipped to $3,725.25. BTC remains dominant, taking up 57.9% of the market. BTC deepened its loss for October to 5.79%, despite the expectations for a green month and an ‘Uptober’ trend. SOL stopped its recent recovery and returned to $180.23.
BTC short-term sentiment points to reversal
BTC is still affected by the October 10-11 liquidations, which were followed by additional rounds of retail selling. Short-term holder profitability is sliding for wallets aged up to 155 days. As BTC held NEAR record levels for weeks, recent buyers are out of the money.
While BTC moved away from its records, additional retail selling may put more pressure on the price. The current price dip is seen as potentially triggering a bigger price correction before a new recovery cycle. For now, BTC has not recovered its liquidity from before the October 10-11 liquidation, and traders are more cautious in rebuilding positions.
The BTC supply in profit has fallen to 82%, down from 99% in early October. BTC has also crossed to a level that may trigger more panic-selling. The recent slide has set expectations for moving to levels under $100,000.
Is BTC going through short-term turbulence?
The recent BTC dip may be a matter of ‘selling the news’ following the Fed’s decision to lower interest rates by 25bps. BTC has historically dipped following FOMC decisions, followed by a relief rally. Soon after the price slide, BTC spot markets formed a buy wall, which absorbed the selling in the $106,000 range.
One of the signs of a potential recovery is the rapidly worsening retail sentiment. For BTC, pessimistic retail positions and postings on ‘buying the dip’ often translate into relief rallies. Often, smart money and whales MOVE the price opposite to retail.
😨 Bitcoin's dip to $107K Thursday has led to a high amount of sub-$100K $BTC price predictions. In this chart:
🟦 $50K-$100K Calls
🟥 $150K-$200K Calls
Markets move opposite to the crowd's expectations, therefore a relief rally is probable while FUD is peaking like it is now. pic.twitter.com/slCuZALuE8
— Santiment (@santimentfeed) October 30, 2025
The recent price moves lowered the crypto fear and greed index to 34 points, in ‘fear’ territory, after an earlier dip as low as 24 points.
Predictions for BTC range from a relief rally to a continued correction. Ending October in the red has been followed historically by an even larger dip in November.
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