The crypto market experienced pronounced volatility today as Bitcoin declined below the $100,000 threshold once again.
According to CoinGlass data, crypto traders saw $1.10 billion in forced liquidations during the last 24 hours. Specifically, long positions accounted for the majority of losses, totaling $969.01 million, while short liquidations reached $128.12 million. The liquidation spike accelerated in the final 12 hours, rising from $564.83 million earlier in the day.
Bitcoin Drops Below $100,000 Again
CoinGecko data indicates that Bitcoin dropped to $96,910 on November 14, marking its third dip under $100,000 this month. Earlier lows included $99,607 on November 5 and $99,376 on November 7.
The latest drop represents a 23% pullback from Bitcoin’s recent high of $126,080, recorded on October 6.
Altcoins Sink as Market Sentiment Weakens
The market downturn extended well beyond Bitcoin, pulling major altcoins into sharp declines. Ethereum fell 11% to trade near $3,154, while Solana dropped 10% to around $141. XRP also retreated, losing 9% to reach $2.28.
The coordinated pullback across leading tokens illustrates the fragility of market sentiment, as traders reduce exposure amid rising volatility.
US Selloff and Gold Rally Pressure Bitcoin
In a post on X, crypto analyst Satoshi Stacker reported renewed selling from US traders. He cited a continued Coinbase BTC discount, which often signals stronger domestic selling. According to Stacker, this pressure helped push Bitcoin below the $100,000 level.
Trader Maartunn highlighted the $100,000 mark as a key liquidity zone. Meanwhile, analyst Ghost added that the fall ended Bitcoin’s 189-day streak of closing above the $100K level, a run that began on May 8.
Furthermore, market strategist Liz Thomas pointed to a growing divergence between Bitcoin and gold. According to her, recent dollar weakness helped gold, but Bitcoin failed to benefit from the same trend.
Prediction Market Sees More Downside Ahead
Similarly, sentiment across leading prediction platforms reflects a marked increase in caution among market participants.
On Polymarket, traders attributed a 66% probability to Bitcoin reaching $95,000 before the end of November. Concurrently, participants on Kalshi assigned a 67% likelihood to Ethereum declining below $3,000.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
