Bitcoin Plunge to $100K Erases $200B+ From Crypto Markets—Here’s What Happened

The crypto bloodbath is real—Bitcoin's nosedive below $100K triggered a $200 billion market wipeout. Traders are scrambling, leverage is getting liquidated, and the usual 'buy the dip' crowd just got quieter.

What’s driving the sell-off? Macro fears, miner capitulation, or just good old-fashioned profit-taking? Either way, the charts look ugly.

Meanwhile, Wall Street’s latest 'crypto experts' are suddenly rediscovering the virtues of 'risk management'—funny how that works after a 30% drop.

Bitcoin crashes to $100K

Bitcoin (BTC) fell 6.32% in the past 24 hours and is currently trading NEAR $100,637, its lowest level in nearly a month. Despite holding over $2 trillion in market cap, Bitcoin’s dominance did little to prevent widespread panic as traders rushed to secure profits after recent record highs above $107K.

Ethereum follows through

Ethereum (ETH) mirrored the drop, sliding over 9% in 24 hours to $3,325. Its weekly decline of nearly 19% has pushed its market cap down to $401 billion, erasing gains accumulated through October’s staking surge.

The ETH-BTC ratio has weakened to 0.0326, its lowest level since early September, signaling Bitcoin’s relative dominance during risk-off conditions. Additionally, base ETH gas fees have jumped to 10.654 gwei.

Altcoin bloodbath deepens

The downturn extended across the altcoin spectrum, with nearly all top assets in red:

• BNB (-8.32%), Solana (-8.75%), and XRP (-7.16%) led the layer-1 slump.

• Cardano (ADA) and Avalanche (AVAX) both dropped over 7–8%, deepening their weekly losses beyond 22%.

• Chainlink (LINK) fell 8.56%, Sui (SUI) plunged 8.98%, and Hyperliquid (HYPE) sank 9.69%.

• Dogecoin (DOGE) declined 7.80%, and Shiba Inu (SHIB) dropped 8.00%.

• Cronos (CRO) and Toncoin (TON) were hit the hardest among mid-caps, down 10.19% and 10.39%, respectively.

• Bittensor (TAO) recorded the steepest daily fall of all majors at -17.69%, highlighting altcoin market fragility.

Mass liquidations hit futures traders

Data from Coinglass shows $1.49 billion in Leveraged positions were liquidated across the market in the past 24 hours, marking one of the largest single-day shakeouts since June 2024.

• BTC: $443.7M liquidated

• ETH: $329.9M liquidated

• SOL: $82.2M liquidated

• XRP: $25.1M liquidated

• DOGE: $19.6M liquidated

Among exchanges, Binance, Bybit, and Hyperliquid recorded the highest liquidation volumes.

Extreme fear grips the market

CoinMarketCap’s Fear & Greed Index plummeted to 27 (“Extreme Fear”), reflecting panic among retail traders and rising profit-taking among institutions. CryptoTimes earlier reported that the initial reasons for the crypto market going down are macro triggers, including rising ETF outflows, rising U.S. bond yields, and Fed officials hinting at no further rate cuts, as well as tightening liquidity, as catalysts.

Also Read: Machi Big Brother Reopens 25x ethereum Long After $15M Loss

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