Bitcoin Crashes Below $106K: Over $1B Liquidated in 24 Hours – What’s Next for Crypto in 2025?

• Why Did Bitcoin Suddenly Drop Below $106,000?
• Altcoins Got Absolutely Demolished – Here’s the Damage
• Traditional Markets Aren’t Safe Either
• Why Analysts Still Believe in $200K Bitcoin
• The Million-Dollar Question: Winter or Spring Ahead?
• FAQ: Your Bitcoin Crash Questions Answered

Bitcoin’s brutal November sell-off continues as the king of crypto plunges below $106,000, wiping out nearly all gains since October’s crash. With altcoins bleeding even harder (Ethereum under $3,600, Solana/BNB/Doge down 10%), Leveraged traders got wrecked – $1B+ positions liquidated in a single day. While panic spreads, bulls like Tom Lee still predict $200K BTC by year-end. Is this the dip before the rip, or the start of crypto winter 2.0? Let’s break down the carnage.

Why Did Bitcoin Suddenly Drop Below $106,000?

November kicked off with a crimson splash across crypto charts. bitcoin nosedived 4% to $105,500, erasing most of its recovery since the October 10 crash. According to CoinGlass data, this triggered overin leveraged position liquidations – a classic domino effect where forced selling accelerates price drops. The BTC weekly chart now shows an 8% loss, dragging prices to monthly lows. "This is textbook market fragility," notes the BTCC research team. "When leverage flips from rocket fuel to napalm, these liquidations become self-fulfilling prophecies."

Altcoins Got Absolutely Demolished – Here’s the Damage

While Bitcoin bled, altcoins hemorrhaged:

• Ethereum (-7% daily, -14% weekly) collapsed below $3,600
• Solana, BNB, Dogecoin, and Cardano each dropped 8-10%

TradingView charts reveal altcoin dominance hitting a 3-month low as risk appetite vanishes. "Altseason? More like alt-icicle season," quipped one trader on X. The BTCC exchange saw particularly heavy action in SOL and DOGE perpetual contracts during the sell-off.

Traditional Markets Aren’t Safe Either

Monday’s AI-stock rally fizzled faster than a meme coin pump:

• Nasdaq futures dipped 0.5% after early gains
• Crypto-correlated stocks like Coinbase fell 3%
• Even Grayscale’s Bitcoin Trust (GBTC) dropped 3%

"Risk-off sentiment is contagious," observed CNBC’s crypto segment. Ironically, Bitcoin’s drop coincided with gold hitting record highs – perhaps some investors truly believe in "digital gold" now.

Why Analysts Still Believe in $200K Bitcoin

Amid the bloodbath, FundStrat’s Tom Lee doubled down on his $200,000 year-end BTC price target during a CNBC interview: "Fundamentals haven’t changed – institutional adoption, halving effects, and ETF flows should drive prices up after this consolidation." His optimism echoes MicroStrategy’s recent $5.3M BTC purchase at $105,000. Still, even Lee admits the path won’t be smooth: "Volatility is the price of admission in crypto markets."

The Million-Dollar Question: Winter or Spring Ahead?

With extreme volatility and $1B+ liquidations, crypto’s near-term future hinges on two factors:

1. Whether Bitcoin can reclaim $110K as support
2. If institutional buyers step in at these levels

As the BTCC team warns: "Until leverage resets, the market remains vulnerable to more liquidations." Whether this dip becomes a generational buying opportunity or the start of a prolonged winter may depend on macroeconomic tides – including Fed rate decisions and the upcoming US election cycle.

FAQ: Your Bitcoin Crash Questions Answered

How much was liquidated in the Bitcoin crash?

Over $1 billion in leveraged crypto positions were liquidated within 24 hours as Bitcoin fell below $106,000 on November 4, 2025 (per CoinGlass data).

Which altcoins dropped the most?

Solana (SOL), Binance Coin (BNB), Dogecoin (DOGE), and Cardano (ADA) all fell 8-10%, underperforming Bitcoin’s 4% drop. Ethereum (ETH) lost 7% in 24 hours.

Is Bitcoin still expected to hit $200K in 2025?

Analyst Tom Lee maintains his $200,000 year-end target, though the path may involve more volatility. The BTCC team notes that Bitcoin has historically seen 30-40% corrections during bull markets.