Bitcoin plummeted, the crypto market collapsed! More than 400,000 people liquidated their positions with more than 10 billion!

Nakamoto 2025-11-5 23:25 13255人围观 BTC

Panic selling intensified, and the cryptocurrency market was "bloodbathed." In recent days, the cryptocurrency market has collectively plummeted. In the early morning of November 5, the price of Bitcoin fell below the $100,000 mark for the first time sinc

Panic selling intensified, and the cryptocurrency market was "bloodbathed."

In recent days, the cryptocurrency market has collectively plummeted. In the early morning of November 5, the price of Bitcoin fell below the $100,000 mark for the first time since June.

Ethereum fell below $3,100 per coin, once falling by more than 14%.

In addition, BNB, Solana Coin, STETH, etc. all fell by more than 5%.

Coinglass data shows that more than 470,000 people were liquidated in the cryptocurrency market in the past 24 hours, with a total liquidation amount of US$2.025 billion, of which long positions were liquidated at US$1.63 billion and short positions were liquidated at US$400 million. The largest single liquidation occurred in HTX-BTC.

On October 11, the cryptocurrency market experienced the largest forced liquidation event in history, with major global exchanges liquidating more than $19 billion in crypto assets. According to statistics from Coinglass, in just 24 hours, the amount of liquidated positions across the entire network reached US$19.3 billion, more than 1.66 million traders were forced to liquidate their positions, and the total market value of the crypto market evaporated by more than US$450 billion. As prices fell below key levels and liquidity continued to shrink, market confidence collapsed, exacerbating panic selling in the market.

In addition, changes in the Federal Reserve's policy and the "shutdown" of the U.S. government have also added uncertainty to the trend of the cryptocurrency market. The Federal Reserve has reiterated its cautious approach in recent days, with Fed Chairman Powell warning that further interest rate cuts are not guaranteed, citing interruptions in economic reports caused by the government shutdown and serious differences among the 19 Fed officials involved in the Fed's interest rate deliberations.

According to CCTV News, as of November 4, local time, the "shutdown" of the U.S. federal government has lasted for 35 days, tying the record of "shutdown" length set by U.S. President Trump during his previous term. With the Senate rejecting the temporary appropriation bill for the 14th time, this "shutdown" will continue, setting a new record.

This "suspension" has seriously affected many areas of people's livelihood in the United States, including air transportation, food relief, preschool education, and medical security. Analysts pointed out that this "shutdown" highlights the reality of intensified partisanship in the United States. The American people have not only suffered serious damage to their own interests, but also have to pay for the escalating political polarization.

Regarding future trends, CryptoQuant believes that if Bitcoin cannot hold the support level of $100,000, it will fall to around $72,000 in the future.

Ahluwalia, founder of investment firm Lumida Wealth, believes: “While Bitcoin is technically on the edge of a bear market, veteran crypto investors have experienced larger retracements in the past. For those familiar with this asset class, this is nothing. I think this is just a 'shuffle'. ”

Chris Newhouse, director of research at Ergonia, a company specializing in decentralized finance, said: “Bitcoin’s drop to June’s lows reflects the fact that the market is still grappling with the impact of October’s massive liquidation event, which has fundamentally changed the way participants respond to the current downward trend. ”

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