{"id":503339,"date":"2025-10-17T12:15:42","date_gmt":"2025-10-17T11:15:42","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=503339"},"modified":"2025-10-28T03:05:39","modified_gmt":"2025-10-28T03:05:39","slug":"why-bitcoin-price-just-plummeted-under-105k-to-lowest-level-since-june","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/why-bitcoin-price-just-plummeted-under-105k-to-lowest-level-since-june\/","title":{"rendered":"Why Bitcoin price just plummeted under $104k to lowest level since June"},"content":{"rendered":"

Bitcoin<\/a> extended its week-long decline, sliding to its lowest level since July as renewed US\u2013China trade tensions and heavy fund outflows forced another wave of liquidations across crypto markets.<\/p>\n

According to CryptoSlate<\/em> data, Bitcoin fell over 5% in the past 24 hours to as low as $103,300 after trading near $112,000 earlier in the week. Ethereum<\/a> also lost ground, falling 9% to around $3,600.<\/p>\n

Meanwhile, Binance\u2019s BNB<\/a> slid 11% to $1,048, while XRP, Solana, Dogecoin, Tron, and Cardano each lost more than 7% during the same period.<\/p>\n

Data<\/a> from Coinglass shows that the sell-off triggered roughly $1.18 billion in leveraged liquidations within the last 24 hours. Notably, long traders speculating on a market rebound incurred most losses, losing about $917 million of the total.<\/p>\n

\"Crypto
Crypto Market Liquidation on Oct. 17 (Source: CoinGlass)<\/figcaption><\/figure>\n

This performance comes a week after the crypto market experienced a significant crash that rattled investor sentiment. On Oct. 10, crypto investors lost nearly $20 billion after President Donald Trump threatened a 100% tariff on China.<\/a><\/p>\n

What caused Bitcoin's latest price drop?<\/h2>\n

The sharp market downturn can be linked to a combination of macro and structural triggers impacting the crypto industry.<\/p>\n

Analysts at Bitfinex told CryptoSlate<\/em> that markets have become increasingly reactive to geopolitical developments. They noted that President Trump\u2019s<\/a> confirmation of new tariffs deepened fears<\/a> of economic decoupling.<\/p>\n

According to them:<\/p>\n

“In the near term, we expect bouts of knee-jerk volatility, with any selling pressure in equities spilling\u00a0 over into crypto, tightening liquidity and weighing on leveraged positions. If yield curves steepen and credit risk premiums widen, BTC could face some profit-taking before resuming any upward trajectory.”<\/p><\/blockquote>\n

Meanwhile, institutional investors' sentiment also appears to be souring, with spot Bitcoin and Ethereum exchange-traded funds (ETFs) recording combined outflows of around $600 million.<\/p>\n

According to SoSo Value data<\/a>, US spot Bitcoin ETFs recorded $536 million in outflows on Oct. 16, which is their most significant single-day withdrawal since August.<\/p>\n

Ark Invest\u2019s ARKB<\/a> led the outflows with $275.15 million, followed by Fidelity\u2019s FBTC<\/a>, which saw $132 million withdrawn. Grayscale\u2019s<\/a> GBTC and Grayscale Mini BTC products recorded $44.97 million and $22.52 million in outflows, respectively, while BlackRock\u2019s IBIT<\/a> shed $29.37 million.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Spot Bitcoin ETFs (as of 10\/16)<\/strong><\/caption>\n
#<\/th>\nTicker<\/th>\nExchange<\/th>\nSponsor<\/th>\nPrem.\/Disc. (10\/16)<\/th>\n1D Net Inflow (10\/16)<\/th>\n<\/tr>\n<\/thead>\n
1<\/td>\nIBIT<\/td>\nNASDAQ<\/td>\nBlackRock<\/td>\n+0.10%<\/td>\n-$29.46M<\/td>\n<\/tr>\n
2<\/td>\nFBTC<\/td>\nCBOE<\/td>\nFidelity<\/td>\n+0.09%<\/td>\n-$132.00M<\/td>\n<\/tr>\n
3<\/td>\nGBTC<\/td>\nNYSE<\/td>\nGrayscale<\/td>\n-0.05%<\/td>\n-$44.97M<\/td>\n<\/tr>\n
4<\/td>\nBTC<\/td>\nNYSE<\/td>\nGrayscale<\/td>\n+0.05%<\/td>\n-$22.52M<\/td>\n<\/tr>\n
5<\/td>\nARKB<\/td>\nCBOE<\/td>\nArk & 21Shares<\/td>\n+0.08%<\/td>\n-$275.15M<\/td>\n<\/tr>\n
6<\/td>\nBITB<\/td>\nNYSE<\/td>\nBitwise<\/td>\n+0.12%<\/td>\n-$20.58M<\/td>\n<\/tr>\n
7<\/td>\nHODL<\/td>\nCBOE<\/td>\nVanEck<\/td>\n+0.11%<\/td>\n-$6.12M<\/td>\n<\/tr>\n
8<\/td>\nBTCO<\/td>\nCBOE<\/td>\nInvesco<\/td>\n+0.02%<\/td>\n$0.00<\/td>\n<\/tr>\n
9<\/td>\nBRRR<\/td>\nNASDAQ<\/td>\nValkyrie<\/td>\n+0.08%<\/td>\n-$5.65M<\/td>\n<\/tr>\n
10<\/td>\nEZBC<\/td>\nCBOE<\/td>\nFranklin<\/td>\n+0.08%<\/td>\n$0.00<\/td>\n<\/tr>\n
11<\/td>\nBTCW<\/td>\nCBOE<\/td>\nWisdomTree<\/td>\n+0.09%<\/td>\n$0.00<\/td>\n<\/tr>\n
12<\/td>\nDEFI<\/td>\nNYSE<\/td>\nHashdex<\/td>\n+0.18%<\/td>\n$0.00<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Other funds also saw modest declines, including Bitwise\u2019s BITB<\/a> at $20.58 million and VanEck\u2019s HODL<\/a> with $6.12 million.<\/p>\n

Meanwhile, Invesco\u2019s BTCO, Franklin Templeton\u2019s EZBC, Valkyrie\u2019s BRRR, and WisdomTree\u2019s BTCW reported no net flows for the period.<\/p>\n

Considering this, Timothy Misir, head of research at BRN, told CryptoSlate<\/em> that the shift in ETF demand has turned \u201ca temporary pause into a structural headwind.\u201d<\/p>\n

He cautioned that if the combined redemptions exceed $1 billion within 48 hours, or if miner sales resume, Bitcoin could test the $96,000 region before stabilizing.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin extended its week-long decline, sliding to its lowest level since July as renewed US\u2013China trade tensions and heavy fund outflows forced another wave of liquidations across crypto markets. According to CryptoSlate data, Bitcoin fell over 5% in the past 24 hours to as low as $103,300 after trading near $112,000 earlier in the week. […]<\/p>\n","protected":false},"author":720,"featured_media":503342,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120,77968,80621,79312,15323,6849],"tags":[76807,76718,72190,77046],"post_folder":[],"acf":[],"yoast_head":"\nBitcoin tumbles as $1.18 billion in crypto liquidations hit markets<\/title>\n<meta name=\"description\" content=\"Crypto market turbulence sees Bitcoin plummet amidst $1.18 billion in leveraged liquidations and ETF outflows.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/why-bitcoin-price-just-plummeted-under-105k-to-lowest-level-since-june\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Bitcoin price just plummeted under $104k to lowest level since June\" \/>\n<meta property=\"og:description\" content=\"Crypto market turbulence sees Bitcoin plummet amidst $1.18 billion in leveraged liquidations and ETF outflows.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/why-bitcoin-price-just-plummeted-under-105k-to-lowest-level-since-june\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2025-10-17T11:15:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-28T03:05:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/10\/bitcoin-down-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/why-bitcoin-price-just-plummeted-under-105k-to-lowest-level-since-june\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/why-bitcoin-price-just-plummeted-under-105k-to-lowest-level-since-june\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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