Yeliz Akmaca 
Crypto markets experienced a major decline as Bitcoin (BTC) dropped $4,000 overnight, wiping out around $120 billion in market value. Bitcoin started November with the same downward momentum as October, falling to just below $107,000 early today, putting pressure on altcoins like BNB, SOL, DOGE, LINK, and ADA.
Last week was highly volatile for BTC. On Monday and Tuesday, prices briefly surged to $116,000 but were rejected at that level. Positive news from the U.S. Federal Reserve triggered a temporary recovery, lifting BTC back to $112,000. Despite a 25 basis point rate cut, Bitcoin fell below $106,000 on Thursday, resuming its downward trend.
Crypto See Sharp Losses
Altcoins followed Bitcoin’s decline. Ethereum (ETH) dropped 3.8% to $3,700, while XRP corrected 4.5% to $2.40. BNB, SOL, DOGE, ADA, LINK, SUI, HBAR, and AVAX suffered 7–8% losses, making them the worst performers of the day. Mid- and small-cap coins experienced similar pressure, though ICP rose over 8%, followed by WBT and ASTER.
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Today’s Altcoin Performance:
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ETH: -3.8%
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XRP: -4.5%
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BNB, SOL, ADA, DOGE, LINK: -7–8%
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ICP: +8%
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WBT, ASTER: slight gains
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Altcoin dominance increased to 58.3% on CoinMarketCap (CMC), while total market capitalization fell below $2.15 trillion.
Significant Market Value Loss
Overall, the crypto market lost more than $120 billion as Bitcoin and altcoins declined. CMC data shows total market capitalization dropped to $3.68 trillion. Investors are cautiously reassessing their positions amid high volatility.
Experts highlight that support and resistance levels are crucial in determining the next market moves. BTC holding near $107,000 will be key in shaping the market trend for the rest of the week.
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