Key Takeaways:

Bitcoin drops below $102K, losing nearly 2% in 24 hours
Total crypto market cap declines to $3.42 trillion
$630 million in leveraged positions liquidated in 24 hours
Longs dominate liquidations with $527 million wiped out
Bitcoin and Ethereum lead the liquidation heatmap
RSI and MACD suggest continued short-term weakness 

The global crypto market cap dropped 2.18% to $3.42 trillion, according to CoinMarketCap data.

Bitcoin declined 1.9% over the past 24 hours to $101,621, extending weekly losses to over 1.5%. Ethereum followed with a steeper 2.9% daily decline, trading near $3,391, while XRP slipped 4.1% to $2.33 despite maintaining a weekly gain of 3.6%.

The latest correction erased nearly $70 billion in total market capitalization, intensifying concerns about short-term volatility as traders unwind leveraged positions.

Major Liquidations Sweep Across the Market

According to Coinglass data, over $630 million in leveraged positions were liquidated in the past 24 hours, affecting more than 157,000 traders. Longs accounted for the majority, with approximately $527 million in bullish positions wiped out compared to $104 million in shorts. In the past hour alone, around $250 million were liquidated as the market sentiment turns bearish.

Bitcoin and Ethereum dominated the liquidation board with $166.9 million and $163.9 million respectively, followed by POPCAT at $63 million and ZEC at $21.5 million. The largest single liquidation occurred on the Hyperliquid exchange, valued at $21.29 million.

This heavy flush suggests traders were caught off guard by the latest downturn, with most liquidations concentrated during U.S. trading hours as Bitcoin failed to hold key support levels.

Technical Indicators Signal Weakness

On the 4-hour Bitcoin chart, the MACD remains in negative territory, showing limited buying momentum, while the RSI hovers near 40 — a level often seen before additional downside pressure. Analysts warn that failure to reclaim the $104,000–$106,000 range could open the door to further losses, possibly toward the mid-$90,000 zone.

The decline marks a break from recent stability following weeks of sideways movement. Despite a broader bullish structure over the long term, short-term technicals indicate exhaustion, with traders opting to de-risk amid tightening financial conditions and declining market breadth.

Market Outlook

With macro uncertainty still weighing on risk assets, investors are watching whether Bitcoin can establish a firm base above $100,000 before the next leg higher. Analysts suggest that the latest shakeout may reset leverage in derivatives markets, potentially setting the stage for a more sustainable recovery once liquidity conditions stabilize.

For now, volatility remains high, and traders appear to be in “wait and see” mode as the market digests this latest round of liquidations.

The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.

The post Crypto Market Selloff Deepens – Bitcoin Drops Below $102,000 as $250 Million Wiped Out in an Hour appeared first on Coindoo.

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Filed under: Bitcoin - @ November 12, 2025 4:31 pm