Overview
- Bitcoin hovers around $99,000–$100,000 after a roughly 7% weekly drop and a break below its 200-day moving average, while altcoins such as Ether, XRP, STETH and Solana posted larger declines.
- Coinglass reported 196,202 traders liquidated in the past 24 hours, with $562.82 million in positions wiped out and nearly $370 million from long bets.
- Market sentiment has flipped to extreme fear as a month-long reversal erased most of 2025’s gains from the Oct. 6 peak near $4.4 trillion in total crypto value.
- U.S. spot Bitcoin and Ether ETFs recorded $253 million of net inflows on Thursday after six consecutive sessions of outflows.
- J.P. Morgan characterizes the drop as a corrective phase that has largely run its course, says Bitcoin looks undervalued versus gold, and projects roughly $170,000 within 6–12 months.