Crypto Prices Update: Bitcoin Falls to $104,000 as Altcoins Crash
The cryptocurrency market continues to reel under heavy selling pressure, with total market capitalization plunging to around $3.46 trillion, marking a 4.3% decline in the last 24 hours.
The cryptocurrency market continues to reel under heavy selling pressure, with total capitalization plunging to around $3.46 trillion, marking a 4.3% daily decline. The widespread correction has triggered large-scale liquidations across major assets as traders scramble to de-risk in a rapidly weakening environment.
According to liquidation data, more than $1.34 billion worth of leveraged positions were closed over the past 24 hours, with long traders accounting for roughly $1.18 billion of that total. Analysts note this marks one of the most severe wipeouts since mid-September, reflecting the excessive leverage that had built up during October’s rapid surge.
Bitcoin and Ethereum Lead Market Sell-Off
Bitcoin, the largest cryptocurrency, is currently trading around $103,900, down 3.7% in the last 24 hours and nearly 9% over the past week. The selling intensified after bulls failed to defend the $106,000 level, triggering cascading liquidations across derivatives exchanges.
Ethereum followed a similar pattern, dropping below $3,500 after losing more than 14% in a week. Technical analysts are watching the $3,400 region as a potential short-term support zone, though market sentiment remains fragile amid heavy volatility.
Altcoins Deep in Red
The downturn has hit the altcoin market even harder. BNB slid to around $950, recording a 6.8% daily decline, while Solana fell nearly 8.5% to $161, extending its weekly losses to over 19%. XRP, Cardano, and Dogecoin also dropped between 6–7% in 24 hours, continuing the negative momentum that began earlier in the week.
Despite the sharp declines, some analysts suggest the pullback may help reset overextended funding rates and remove excess leverage from the system. The broader view, however, remains cautious, as traders await signs of stabilization in Bitcoin’s price before considering renewed accumulation.
The live updates below will track market reactions, liquidation spikes, and analyst commentary as the crypto market navigates the Q3 downtrend.
Alexander Zdravkov is a person who always looks for the logic behind things. He has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
