Bitcoin’s price plummeted below the $100,000 mark this week, dropping nearly 6% within just 24 hours. Market capitalization suffered a significant drop as well, sliding to $3.29 trillion. This sharp decline was fueled by over $1.67 billion in crypto liquidations, with Ethereum and Bitcoin taking the biggest hit. Data from Coinglass reveals heavy losses across major exchanges, wiping out leveraged positions valued at over $1.67 billion in a single day. 387,000 traders faced liquidation, mainly on Ethereum’s $569 million worth of liquidations, with Bitcoin and other altcoins following suit. Long positions suffered the most significant losses, amounting to nearly $1.46 billion in forced closures compared to a much lower $210 million for short positions. 50% of total liquidation came from long trades, highlighting the overextended bullish sentiment that contributed to this correction. Market volatility intensified as Bitcoin’s trading volume surged above $95 billion and Ethereum surpassed $62 billion. Analysts suggest the decline was driven by automated liquidations and profit-taking after a period of strong gains. While retail investors are reacting with concern, veteran crypto investors and institutional players seem unaffected at present. November typically marks one of Bitcoin’s strongest months historically, but this year’s behavior suggests traders are struggling to sustain optimism amid global economic uncertainty. The coming days hold critical significance for Bitcoin. A break above the $102,000-$105,000 zone may stabilize sentiment. However, a decisive decline below $95,000 could open the door to deeper corrections toward $90,000 and beyond.