The cryptocurrency market experienced significant volatility recently, leading to a sharp drop in Bitcoin prices. According to Binance data, BTC fell below the $83,000 mark and reached $82,000 – its lowest point since April. This decline impacted the entire altcoin sector as well, with Ethereum (ETH) dropping over 10% to reach $2,700 and a notable impact on XRP, BNB, and Solana’s price. As a result of this sudden volatility, significant positions were liquidated in the futures market, reaching almost $1 billion according to Coinglass data. The losses were particularly severe in long positions, totaling $913 million within the last hour. This drop has increased the probability of Bitcoin reaching $80,000 by November on Polymarket, jumping to 58%. In a significant shift, Solana’s market value plummeted, dropping from 6th place to 7th and falling behind USDC which now holds 6th position in the cryptocurrency market ranking. This decline also impacted other coins such as XRP, BNB, and SOL impacting their positions within the top 10 list.