Bitcoinprice crashes hard today as panic grips thecryptomarket again. The world’s biggest cryptocurrency plunged nearly 2.77% in the last 24 hours, falling to around $101,017.80, a drop of $2,879.17 from the previous day. The price briefly recovered to $101,235, still down 2.54%, while trading fluctuated between $100,239 and $104,191. This comes after Bitcoin broke below the key $100,000 psychological level earlier this week for the first time since June, wiping out more than $1 trillion in total market value from its October peak near $126,000. Traders say this is one of Bitcoin’s most volatile weeks of 2025, with sentiment turning to “Extreme Fear” and selling pressure intensifying across exchanges.

The reasons behind today’s Bitcoin price drop are rooted in tightening global liquidity, the U.S. Federal Reserve’s hawkish stance, and a prolonged U.S. government shutdown that’s fueling economic uncertainty. Many long-term holders are taking profits while institutional investors are slowing their inflows, triggering further corrections. Technical charts now show that Bitcoin’s $100,000 support zone is weakening fast, and analysts warn of a possible slide toward $92,000 if this level breaks. The $92,000 mark has drawn major attention because of an unfilled CME futures gap, which historically acts as a magnet for Bitcoin’s price to “close” before a reversal.

Crypto analyst Ted Pillows said that Bitcoin might need to revisit $92,000 to fill that gap before resuming its uptrend. A CME gap appears when Bitcoin futures trading on the Chicago Mercantile Exchange (CME) pauses during weekends while the crypto market runs nonstop, creating price gaps that often get revisited. Market data from CoinGlass shows a high liquidity cluster around $108,633, suggesting any rebound could face strong resistance. That means volatility could intensify if Bitcoin bounces higher as traders try to reclaim lost ground.

The $92,000 zone could also act as a psychological floor for bulls. Some experts view it as the final washout before a new rally, while others warn it might open the door to a deeper drop toward $77,000. Interestingly, Bitcoin’s last major rally began around this same price zone in April 2025, giving hope that historical support could once again trigger recovery. However, if the $92,000 level breaks, it could challenge Bitcoin’s long-standing four-year cycle theory, which many traders rely on to time market moves.

This time, the cycle seems disrupted by institutional trading patterns, ETF flows, and macroeconomic pressure. Analysts say that if Bitcoin falls another 10%–20%, retail wealth destruction could surpass 2022 levels, even without a major protocol collapse. For now, Bitcoin remains fragile, with traders watching closely if the price stabilizes above $100,000 or drops further toward $92,000.

The next few trading sessions will decide whether this correction becomes Bitcoin’s final shakeout or the start of a deeper market downtrend.

Bitcoin price plunges below $101,000 amid panic selling

Bitcoin crashed sharply today, falling to $101,017.80, down $2,879.17 or 2.77% in 24 hours. The cryptocurrency briefly traded near $101,235, showing a 2.54% intraday decline, with prices swinging between $100,239 and $104,191.

This comes after Bitcoin slipped below the psychological $100,000 mark earlier this week — its first time since June. From its October peak near $126,000, Bitcoin has lost over $1 trillion in total market value, reflecting one of its steepest corrections in 2025.

Market sentiment has turned sharply bearish. The Crypto Fear & Greed Index now shows “Extreme Fear,” as traders rush to exit long positions and protect profits.

Analysts warn BTC could retest $92,000 zone

The recent sell-off has reignited debate among traders about where Bitcoin might bottom next. Some analysts expect BTC to test $92,000, a level connected to an unfilled CME gap on Bitcoin futures.

Crypto analyst Ted Pillows said that if Bitcoin fails to hold its current support, “the market could retest the $92,000 zone before the next bounce.” This gap forms because CME trading pauses on weekends while crypto markets run nonstop, often leading to “gaps” that tend to get filled later.

If BTC slides further, it could trigger more liquidations and deepen panic. Traders say the $92,000 range could become a critical battleground for bulls trying to defend against another leg down.

Technical charts show bearish momentum building. The $100,000 support is weakening fast. If it breaks decisively, Bitcoin could slide toward $92,000 or even $77,000.

Interestingly, Bitcoin’s last major rally began around this same zone back in April 2025, suggesting a possible historical floor. Some analysts see this pullback as a final shakeout before recovery, while others warn of a longer correction ahead.

According to CoinGlass, a large liquidity cluster around $108,633 could trigger volatility if Bitcoin rebounds. Traders may push prices toward that zone to clear positions, but strong resistance remains there.

The correction isn’t isolated. Analysts cite several macroeconomic triggers. Global liquidity is tightening. The U.S. Federal Reserve’s hawkish stance continues to pressure risk assets. The prolonged U.S. government shutdown has also fueled uncertainty.

Profit-taking by long-term holders and institutional outflows added to the selling pressure. Crypto wealth erosion from this cycle could surpass 2022 levels, even without any major collapses, given the scale of speculative leverage in the market.

Cycle theory faces its toughest test yet

For years, Bitcoin’s four-year cycle — accumulation, growth, distribution, decline — has guided investor expectations. But this time, the pattern appears to be breaking.

Institutional dynamics, ETF inflows, and macro headwinds are reshaping Bitcoin’s rhythm. “Uptober” optimism faded quickly as November began with heavy losses.

If Bitcoin falls another 10%–15%, it could mark one of the deepest mid-cycle corrections since 2018. Traders now await stabilization around $92,000–$95,000, with hopes that renewed demand may rebuild momentum before year-end.

For now, Bitcoin stays under pressure — trapped between fear-driven selling and the possibility of a rebound from deep liquidity zones.

Bitcoin’s sharp decline below $101,000 shows markets are on edge. If $100,000 fails to hold, a retest of $92,000 seems likely. However, historical patterns suggest that deep corrections often precede new rallies. The next few sessions will decide if this is the final shakeout — or the start of a longer downtrend.