- Bitcoin price plunged to nearly $106,400 in a sharp downturn as equities collapsed.
- Liquidations topped $1 billion, including more than $400 million in long BTC positions.
- Most top altcoins also tumbled, with Ethereum falling below $3,700 and Solana dropping to $179.
The latest crypto market downturn saw Bitcoin slide to roughly $106,411, its lowest level since it dipped to about $104,000 on October 17. The broad risk-off move erased billions in market value and triggered large-scale liquidations that exceeded $1 billion at the time of writing on October 30, 2025.
This sell-off unfolded amid mounting macroeconomic pressures, including uncertainty over Federal Reserve interest-rate policy and disappointing corporate earnings from major tech companies.
Bitcoin falls to nearly $106k amid wider crypto weakness
On October 30, 2025, Bitcoin experienced a sudden drop to a low of $106,411 as the broader crypto weakness intensified. The sell-off coincided with a turbulent session in traditional markets, led by a sharp decline in the Nasdaq Composite.
The tech-heavy index fell more than 1.4%, while the S&P 500 lost over 0.8% as equities gave back recent gains. Crypto weakness mirrored the wider financial backdrop, where Federal Reserve chair Jerome Powell’s cautious stance on the prospect of a December rate cut weighed on sentiment.
Market sentiment turned increasingly dour, and some projections pointed to further downside pressure. Traders on prediction markets such as Polymarket placed the probability that Bitcoin would fall below $100,000 before 2026 at roughly 61%, a notable rise that underscores growing participant pessimism.
Nevertheless, some analysts remain cautiously optimistic, noting that sharp intraday drawdowns have in the past been followed by strong rebounds in subsequent sessions.
Crypto liquidations top $1 billion as altcoins crash
Market turbulence culminated in liquidations exceeding $1 billion over the prior 24 hours as leveraged positions were forcibly closed amid cascading price declines. Long positions bore the brunt of the losses, with Bitcoin liquidations accounting for roughly $424 million.
Ethereum saw sizeable liquidations estimated at about $317 million, while Solana logged roughly $79 million in liquidations. Although these totals are small relative to larger past sell-offs that erased tens of billions, they still rank among the larger single-day liquidation events in recent months.
Coinglass data showed that liquidations impacted 237,311 traders, with the largest single liquidation a $21.4 million BTC-USD position on Hyperliquid. Data also suggested further forced exits could occur if BTC were to spike above $112,000.
🚨 $3 BILLION Bitcoin shorts to be liquidated if BTC rallies just 5% to $112,600 🙏 pic.twitter.com/ukA0bbrju1
— Bitcoin Archive (@BTC_Archive) October 30, 2025
All of the top 10 altcoins by market capitalization fell in tandem: Ethereum dropped to about $3,680, BNB fell to approximately $1,050, and XRP traded near $2.36. Solana’s price slid to $179 after Jump Crypto reportedly swapped $205 million worth of SOL for Bitcoin.