Crypto market liquidations surged past $1.33B in the last 24 hours, with Bitcoin price dropping to $104,500, and ETH, XRP, BNB, and SOL correcting 5-10%.
By Bhushan Akolkar
Editor Julia Sakovich
Updated
3 mins read
Crypto market liquidations have soared to $1.33 billion once again, with yet another selling pressure as Bitcoin BTC $104 500 24h volatility: 2.1% Market cap: $2.09 T Vol. 24h: $89.44 B and altcoins face deeper correction. While BTC price has now dropped to $104,500, Ethereum ETH $3 568 24h volatility: 1.4% Market cap: $431.16 B Vol. 24h: $52.82 B is leading the altcoins’ fall with another 5% crash for the second consecutive day to $3,500. It’s been a weak start to November 2025, historically believed to be the strongest month for digital assets.
A total of $1.33 billion in leveraged positions across the crypto market have been wiped out in the last 24 hours. According to the CoinGlass data, the long liquidations amount to nearly 90%, which is $1.2 billion.
The latest Bitcoin price drop to $104,500 comes with Bitcoin OG whales and institutions doing profit booking. Crypto market analyst Ardi stated that with BTC price dropping to around $104,000 levels, it is currently testing its 50-week simple moving average (SMA) for the first time in seven months.
According to the analyst, a strong rebound from this level is critical. Failure to hold could trigger a major psychological sell-off. This could further lead to additional crypto market liquidations.
$BTC flushes down to $104K 🚨
Looks like it's about to test the 50-week SMA for the first time in 7 months.
Need a bounce, otherwise a huge psychological flush is incoming. pic.twitter.com/55CK8CvdVq
— Ardi (@ArdiNSC) November 4, 2025
On the other hand, BlackRock’s iShares Bitcoin Trust (IBIT) has been continuously offloading their holdings. As per the on-chain data, the world’s largest asset manager has started dumping BTC yet again.
BlackRock on Bitcoin dumping spree | Source: 0xNobler
BlackRock has approximately unloaded 24,000 BTC valued at $2.75 billion. Crypto market data indicates that the asset manager continues to sell additional holdings in smaller batches each hour. Despite all the FUD (Fear, Unrest and Doubt), Michael Saylor’s Strategy has continued with their BTC purchases.
The latest correction across the altcoins space is even more pronounced, with Ethereum price dropping another 5.6% today to $3,500. With this, the largest altcoin has extended its weekly losses to 15%.
Other top altcoins are also facing the wrath of bears. XRP XRP $2.32 24h volatility: 2.5% Market cap: $139.36 B Vol. 24h: $7.43 B price is down 6.3% today, BNB BNB $962.2 24h volatility: 1.2% Market cap: $132.83 B Vol. 24h: $4.02 B price is down 7.38%, Solana SOL $164.6 24h volatility: 5.5% Market cap: $91.03 B Vol. 24h: $10.50 B price tanked by 10.22%, and others have corrected anywhere between 5-10%.
According to Bloomberg, the crypto market continues to feel the aftereffects of October’s massive liquidation event, which wiped out billions in leveraged positions. Although BTC showed intermediary signs of rebound, Bloomberg noted that is not being driven by new fear or macroeconomic headwinds. Instead, traders remain cautious after the severe October wipeout.
The publication added that the event “repelled new demand,” as confidence remains subdued and buyers have yet to fully return despite broader strength in global risk assets. Analysts suggest the current phase reflects a recovery in sentiment rather than fundamental weakness.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
