Key Insights
- •In the latest crypto news, Bitcoin price slipped under $90,000, extending a five-week slide that has erased roughly $1.2 trillion from the crypto market.
- •More than $1 billion in leveraged positions were liquidated in the past 24 hours as forced selling intensified across major exchanges.
- •A previously inactive stash of 4,668 BTC, held for three to five years and valued at about $440 million, was suddenly spent, hinting at shifts among long-term holders.
- •On-chain signals have turned noticeably cautious, with dormant supply reactivating and traders preparing for the possibility of continued volatility.
Crypto news turned sharply negative on Monday as Bitcoin dropped below $90,000, its lowest level since April.
The slide deepened the broader market selloff, leaving Bitcoin down about 26% from its early October peak and pushing the asset decisively back into bear-market territory after more than a month of steady declines.
In roughly five weeks, the total crypto market capitalization has plunged by over $1 trillion from its early-October record highs.
Ethereum, the second-largest cryptocurrency, has followed suit. ETH price traded below $3,000 after losing momentum from multi-month highs.
This wipeout has erased almost all of the year’s gains, with leading coins broadly lower on the week.
Market Liquidations Surge
The sharp price drop triggered a cascade of forced sell-offs. In the past 24 hours alone, CoinGlass data showed that over $1 billion of crypto positions were liquidated on leveraged trading platforms.
For context, the scale of the recent drawdown is nearing the severity of previous shocks. Industry trackers noted a record $19.0 billion erased in a single day on Oct. 10, followed by roughly $817 million in liquidations on Oct. 29.
Exchange flows show that leveraged longs absorbed most of the damage this time as forced selling rippled through Bitcoin, Ethereum, and other major assets.
It also triggered a chain of margin calls and position unwinds. This forced deleveraging added to selling pressure and fed further volatility.
Long-Dormant Bitcoin Awakens
Another warning sign appeared on-chain. Crypto news sources flagged that about 4,668 BTC (roughly $440 million), which had been idle for 3–5 years, were suddenly spent and transferred.
Such spikes in the “old coin” movement often indicate profit-taking by long-term holders. In this case, coins untouched since 2020–22 began moving again, suggesting these holders are reallocating or booking gains amid the slide.
Analysts say a surge of dormant-supply activity can signal shifting market sentiment. The re-emergence of aged Bitcoin supply adds to evidence that even the longest-term investors are responding to the recent crash.
Overall market mood has flipped to extreme risk-aversion. Crypto news outlets highlighted that the Fear & Greed Index had plunged to 14 (the “extreme fear” zone) – the lowest reading since April.
Popular commentators note this reflects panic-like conditions. Reuters reports Bitcoin is now in “official bear market terrain,” having fallen over 20% in just a few weeks.
Technical indicators echo the stress: for example, Bitcoin’s 30-day volatility index (BVIV) has broken out of its year-to-date downtrend, implying heightened price swings ahead.
On-chain analytics also show long-term holders throwing in the towel: data firm Glassnode and others found a record 815,000 BTC sold by long-term wallets over 30 days.
All these signs – sentiment gauges, volatility measures, and on-chain flows – point to a market bracing for more turbulence and defensive positioning by participants.
Ethereum and BNB Also Retreat
For crypto news watchers, the rout is hitting top tokens across the board. Ethereum (ETH), the second-largest crypto, has slid sharply.
Crypto’s downturn isn’t limited to Bitcoin, but major altcoins are feeling the pressure as well.
Ethereum, which briefly surged to its highs in October, was trading near $2,979 by Nov. 17 as the pullback intensified.
The latest wave of selling triggered about $200 million in ETH liquidations, a clear sign of broad risk reduction across the altcoin complex.
Binance Coin (BNB) has also reversed earlier strength. After a sharp mid-October drop of roughly 6.5% in a single session, BNB has struggled to regain momentum and has since surrendered much of its prior advance.
In short, today’s crypto news is full of stories about broad-based losses: many top altcoins posted double-digit declines alongside Bitcoin.