Bitcoin's (CRYPTO: BTC) decline deepened Friday as broader macro risk-off sentiment and weakening institutional appetite weighed heavily on crypto markets.
Notable Statistics:
- Coinglass data shows 216,892 traders were liquidated in the past 24 hours for $1.06 billion.
- In the past 24 hours, top gainers include Starknet, Zcash and Dash.
Notable Developments:
- Bit Digital Stock Slides As Crypto Markets Unravel
- As Crypto ETFs Gain Traction, 21Shares Rolls Out Two New Index Products
- Tom Lee Says Crypto Will Do Well In December Thanks To Fed: ‘The Odds Favor A Cut’
- XRP ETF Crowned 2025’s Biggest Crypto ETF Debut With $250M Inflows
- Did The UAE Just Ban Bitcoin? No — But What They Did Might Be Even Worse
- Peter Schiff Polls Bitcoin Holders: How Far Must BTC Drop Before They Admit He Was ‘Right’
Trader Notes: Altcoin Sherpa expects BTC to continue grinding lower until it reaches a meaningful support zone, potentially near $91,000, though a clear buyer base has yet to appear.
Ted Pillows noted Bitcoin's break below $98,000 now puts the spotlight on the $92,000–$93,000 region, a key support cluster aligned with a CME gap, which may attract price before any relief bounce.
Niels reported Bitcoin's drop under $95,000 triggered more than $1.23 billion in long liquidations in just 24 hours, contributing to over $1.6 trillion erased across global crypto and equity markets.
Many traders anticipated a relief rally after the U.S. government shutdown ended, but price action has moved sharply in the opposite direction.
Markets now shift from asking why the drop occurred to the more critical question: Is this the start of a deeper downturn, or the final capitulation before Bitcoin's next major move?
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