Bitcoin Dips Below $108k as Long Traders Suffer Massive Liquidation

TL;DR

• BTC is down 2% in the last 24 hours and is now trading below $108k.

• Long traders have suffered a $140 million liquidation over the last few hours.

BTC Dips Below $108k

The cryptocurrency market has opened the new weekly candle bearish, with most coins and tokens currently in the red. Bitcoin, the leading cryptocurrency by market cap, has lost 2% of its value in the last 24 hours and has now dropped below $108k.

The bearish performance comes following the volatile price action experienced in October. Bitcoin hit an all-time high of $124k in October but dumped to $102k during the October 10 market flush.

With Bitcoin now trading below $108k, altcoins are also underperforming. Ether, the leading altcoin by market cap, is down 4% in the last 24 hours and now risks dropping below $3,700 over the next few hours.

XRP has overtaken BNB to become the fourth-largest cryptocurrency by market cap. XRP is currently down 4% and is trading below $2.5, while BNB risks dropping below $1k after losing 5% of its value in the last 24 hours. 

Thanks to the ongoing bearish performance, $140 million worth of long positions were liquidated from the cryptocurrency market in the last 60 minutes.

JUST IN: $140,000,000 worth of crypto longs liquidated in the past 60 minutes.

— Watcher.Guru (@WatcherGuru) November 3, 2025