Key Points
- Crypto market liquidations have risen to $1.33 billion as Bitcoin and altcoins face a deeper correction.
- Bitcoin price has dropped to $104,500, while Ethereum leads altcoins’ fall with another 5% crash to $3,500.
The cryptocurrency market is facing a significant downturn, with liquidations reaching $1.33 billion. This comes as Bitcoin and altcoins undergo a deeper correction, marking a weak start to November 2025, a month typically strong for digital assets.
Major Liquidation Event in the Crypto Market
In the past 24 hours, $1.33 billion in leveraged positions across the crypto market have been liquidated. According to CoinGlass data, long liquidations make up nearly 90%, which is $1.2 billion.
The recent drop in Bitcoin price to $104,500 is accompanied by Bitcoin OG whales and institutions booking profits. Market analyst Ardi suggests that the BTC price, currently around $104,000, is testing its 50-week simple moving average (SMA) for the first time in seven months.
A strong rebound from this level is critical, according to Ardi. Failure to hold could trigger a major psychological sell-off, leading to further crypto market liquidations.
Altcoins Crash as October Shock Continues
The correction in the altcoin space is even more pronounced, with Ethereum’s price dropping another 5.6% to $3,500, extending its weekly losses to 15%.
Other top altcoins are also feeling the pressure. XRP price is down 6.3%, BNB price is down 7.38%, Solana price has tanked by 10.22%, and others have corrected anywhere between 5-10%.
The crypto market continues to experience the aftereffects of October’s massive liquidation event, which wiped out billions in leveraged positions. Despite intermediary signs of rebound, traders remain cautious after the severe October wipeout.
Analysts suggest the current phase reflects a recovery in sentiment rather than fundamental weakness.
