Crypto Market Collapse: $90 Billion Wiped Out in an Hour — Bitcoin Nears $100,000 Support

The cryptocurrency market is experiencing one of its sharpest sell-offs of the year. In just 24 hours, more than $250 billion in market capitalization has vanished — and $90 billion disappeared within a single hour. Panic is spreading across exchanges, trading volumes are surging, and investors are rushing to cut their exposure. Bitcoin (BTC), currently trading around $103,843, has lost several key support levels. Analysts now warn that the world’s largest cryptocurrency could slip toward the psychological barrier of $100,000. A break below this level could trigger another wave of liquidations and lead to a deeper market correction.

Bitcoin Ends October in the Red for the First Time Since 2018 For the first time in seven years, Bitcoin closed October trading in negative territory.

Trading volume over the past 24 hours spiked above $212 billion, while total crypto market capitalization fell by more than $250 billion.

The sudden one-hour market loss of $90 billion shocked traders worldwide, raising fears of a potential repeat of the 2022 market meltdown.

Why Is the Crypto Market Falling? Three Major Drivers

1. Hawkish Federal Reserve Dampens Risk Appetite

The sell-off began after the U.S. Federal Reserve signaled a slower pace of interest rate cuts, citing persistent inflation and warning that monetary easing could be delayed until early 2026.

This stance pushed investors out of risk assets, sending both stocks and cryptocurrencies sharply lower.

2. Over $400 Million in Liquidations Deepen the Drop

According to liquidation trackers, over $400 million in leveraged positions were wiped out within hours — mostly from long positions on Bitcoin and Solana.

This cascade of forced sales triggered a chain reaction across derivatives markets, accelerating the decline.

Analysts note that this mirrors previous flash liquidations during periods of high volatility when funding rates and open interest became overheated.

3. Profit-Taking and Weakening Sentiment

After last week’s brief rally, many traders chose to lock in short-term gains amid growing uncertainty.

The Crypto Fear & Greed Index has shifted toward the “fear” zone, signaling declining investor confidence and lower risk tolerance.

Additionally, ETF inflows for Bitcoin and Ethereum have slowed, while outflows remain negative, amplifying the downside pressure.

Altcoins Take the Biggest Hit Altcoins suffered even heavier losses than Bitcoin as liquidity on major exchanges thinned: Solana (SOL) fell below $176 (−7% within hours)Avalanche (AVAX) and Polygon (MATIC) dropped 8–10%Cardano (ADA) and XRP also declined sharply amid widespread sell-offs

Most of the pressure came from long liquidations and margin calls, particularly on decentralized exchanges with limited liquidity.

After weeks of strong inflows into top-performing altcoins, these assets have now become especially vulnerable to sudden reversals.

Analysts warn that if Bitcoin fails to hold above $102,000, altcoins could face an additional 5–8% decline across the board.

Is This the Start of a Bear Market? Despite the panic, experts emphasize that this is not a collapse of fundamentals, but rather a macro-driven correction fueled by overleveraged positions and weekend illiquidity.

The current decline appears to be a mid-cycle correction within an ongoing bull market, rather than the beginning of a prolonged bear phase. The $100,000 support level remains critical. If Bitcoin holds above it, the market could stabilize and recover toward $108,000–$110,000.

However, a sustained drop below $100,000 could trigger further panic selling and pull altcoins into deeper correction zones.

Summary: A Temporary Storm, Not the End of the Cycle The crypto market remains highly volatile but far from defeated.

This appears to be a temporary storm within a still-bullish long-term trend, driven by overheated sentiment and the Fed’s tighter outlook. Traders should brace for heightened volatility in the coming days and focus on strategic accumulation rather than emotional reactions.

Once the dust settles, this correction could open new opportunities for disciplined investors — but only for those who stay calm amid the chaos.

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