Bitcoin Crash Below $100,000 for the First Time Since May, and Liquidations Reach $1.3 Billion

Bitcoin’s price continued to fall on Tuesday, falling below the $100,000 mark for the first time in six months. Other top coins are falling even faster alongside Bitcoin, which has seen $1.3 billion in liquidations in the past day.

Bitcoin hit a low of $99,954 on crypto exchange Coinbase and $99,990 per price tracker CoinMarketCap before recovering somewhat.

It recently traded at a price of $100,906, down almost 6% on the day. The major cryptocurrency has fallen 12% over the past week and 18% over the past month after hitting a new all-time high above $126,000 in early October.

The last time Bitcoin fell below six figures was in early May.

Just 24 hours ago, when Bitcoin was worth around $107,000, Myriad users were divided over whether Bitcoin would rise to a price of $120,000 or fall to $100,000. At the time, users predicted a roughly 44% chance that BTC would rise to $120,000, although those odds crumbled in recent hours as Bitcoin fell.

Ethereum and other alts are falling harder along with Bitcoin’s plunge, with ETH posting a nearly 10% daily plunge to below $3,300, with XRP down 7.5% to $2.17, Solana down 8% to $154 and Dogecoin down around 7% to $0.157.

About $1.3 billion worth of positions have been liquidated by CoinGlass in the past 24 hours, up from the $1.1 billion seen Monday morning after earlier losses. More than $1.1 billion of that came from long positions, or bets that the price of an asset will rise.

Bitcoin leads the liquidation pile at $470 million, followed by Ethereum at around $377 million.

Crypto has been booming for most of the year, with Bitcoin repeatedly setting new highs – most recently on October 6 – and coins like Ethereum and XRP breaking their own multi-year records in recent months.

But it’s been a bumpy few weeks, with a record day of $19 billion in crypto liquidations last month, following President Trump’s latest round of tariff threats against China – one of the macro factors impacting Bitcoin’s performance.

Bitcoin has also plummeted amid the ongoing government shutdown — the longest full shutdown in history — along with liquidity concerns and diminishing prospects for a third US rate cut before the end of the year.

Editor’s note: This story is current and will be updated with additional details.