Bitcoin (BTC) dropped below the $108,000 mark on the night of October 21, erasing recent gains after briefly climbing above $111,000 the day before. As of writing, the leading cryptocurrency trades near $108,000, showing a mild intraday decline of roughly 0.4%.
According to CoinGlass, the 24-hour liquidation volume exceeded $335 million, reflecting a sharp increase in forced closures of leveraged positions as volatility returned to the crypto markets.
| Metric | Value |
|---|---|
| Bitcoin Price | $108,144 |
| 24h Change | -0.42% |
| Trading Volume (24h) | $30.7 billion |
| Total Liquidations (24h) | $335 million |
Source: CoinGlass, TradingView, Binance
Altcoins Follow Bitcoin’s Slide
Among the top 10 cryptocurrencies by market capitalization, BNB recorded the steepest decline — falling by approximately 5.7%. Other major altcoins also posted losses, with Ethereum (ETH) hovering near $4,000 after its recent recovery.
Market data from CryptoRank shows widespread weakness across leading tokens as traders react to risk-off sentiment and macroeconomic headlines.
Experts Warn Volatility Could Persist
According to Jeff May, Chief Operating Officer at BTSE, short-term volatility is likely to remain elevated. In an interview with The Block, May said:
“We believe macroeconomic issues continue to drive daily price fluctuations. Volatility will persist as long as trade tensions between the U.S. and China remain unresolved.”
He explained that the latest market downturn may be linked to investors’ cautious positioning ahead of a planned meeting between U.S. President Donald Trump and Chinese President Xi Jinping, scheduled to take place in South Korea later this month.
“The biggest risk for crypto markets is the unpredictability of global macro events and trade negotiations,” May added. “Markets can rise or collapse from a single tweet. The best investors can do now is diversify and hedge against uncertainty.”
Bitcoin’s failure to hold above the $111,000 threshold highlights traders’ sensitivity to geopolitical and macroeconomic headlines. Analysts note that, despite recent optimism, the broader crypto market remains vulnerable to external shocks until global economic stability improves.
