Bitcoin Price Takes A Dive Under $100K As Crypto Market Losses Spike to $1 Trillion

Bitcoin price has faced yet another major correction, crashing under $100,000 for the first time since June 2025. As a result, the total crypto market liquidations have surpassed $2 billion in the last 24 hours, with $1.57 billion attributed to long liquidations alone. Amid this massive correction, a staggering $1 trillion in investors’ wealth has been wiped out just over the past month.

Bitcoin Price Crash Triggers Yet Another Wave of Crypto Market Liquidations

Largest cryptocurrency BTC, is facing continuous selling pressure from OG whales and even institutions. On Tuesday, November 3, Bitcoin price tanked all the way to $99,017 before reclaiming above $100K levels once again. On the monthly chart, the asset is already down by a staggering 18%, having lost nearly $500 billion from its market capitalization.

After a failed October rally, the November crypto market upside looks to be at risk. Experts believe that the ongoing US shutdown is hurting the market and is expected to continue for another month until December 1. Overall, macroeconomic uncertainty has also led to massive profit booking by long-term holders across the board.

The cryptocurrency market has lost more than $1 trillion in market capitalization since October 6. This marks one of the steepest pullbacks in recent months. Despite the sharp decline, analysts at The Kobeissi Letter suggest the downturn is largely technical rather than fundamental. Core adoption metrics remain strong, regulatory clarity is improving globally, and blockchain development continues to accelerate.

Behind this ongoing market volatility, excessive leverage remains a key driver. The market saw more than $20 billion in liquidations on October 10 alone, with roughly 300,000 traders being liquidated daily on average. Thus, as long as the leverage positions unwind, near-term volatility is likely to continue ahead.

How Low Can Bitcoin Price Crash Further From Here?

Crypto analyst Ted Pillows has identified two major liquidity clusters for Bitcoin price on the higher timeframes. One near $90,000, which aligns with a CME gap, and another around $126,000, corresponding to the asset’s previous all-time high.

Pillows noted that, with current market weakness, Bitcoin could dip to the $ 90,000 level to fill the CME gap before any potential trend reversal occurs.

Blockchain analytics firm Glassnode reports that monthly funding paid by long positions in Bitcoin perpetual futures has fallen by roughly 62%. It has declined from $338 million in mid-August to $127 million currently.

The firm noted that this steep decline reflects a clear macro downtrend in speculative demand. Moreover, traders are becoming increasingly hesitant to pay funding fees to maintain long exposure in a weakening market.

Bitcoin ETFs Bleed Amid Crypto Market Correction

The spot Bitcoin ETFs in the US recorded their fifth consecutive day of outflows on Tuesday, November 4. According to data from SoSoValue, the net outflows across all US ETF issuers totaled a staggering $577 million.

Fidelity’s Bitcoin Fund (FBTC) led the most outflows at $356 million, followed by Ark Invest’s ARKB at $128 million. On the other hand, BlackRock’s iShares Bitcoin Trust (IBIT) held the ground with zero outflows yesterday. Furthermore, IBIT’s daily trading volume stood at a massive $6 billion yesterday. This shows a highly intense trading activity among institutional players.

Over the past five days, the collective outflows across all US ETF issuers have surged to $1.8 billion. This comes amid massive profit booking by Bitcoin whale entities, pushing the Bitcoin price lower.

This has further translated into the overall crypto market correction, with altcoins bleeding even higher. Ethereum (ETH) price plummeted to the $3,000 support level earlier today, extending its weekly losses to 17.5%. Other altcoins, such as XRP, SOL, and DOGE, have all experienced losses of 15-20% over the past week.