Bitcoin Price Analysis: BTC Slumps As Market Grapples With Largest Liquidation Wave Since 2024
Bitcoin (BTC) plunged below $112,000 as the cryptocurrency market was hit by the largest liquidation wave since December 2024. As a result, $1.7 billion in leveraged positions were wiped out, as 390,029 traders were liquidated. Other cryptocurrencies, including Ethereum (ETH) and Ripple (XRP), were also hammered, recording substantial drops.
BTC is down over 2% during the ongoing session, trading around $112,983 after falling to a low of $111,761. According to CoinGlass data, the flagship cryptocurrency lost $287 million during the liquidation event.
Bitcoin (BTC) Will Continue To Appreciate As World Enters The Fourth Turning
Market analyst Jordi Visser believes Bitcoin (BTC) will continue growing in value and adoption regardless of prevailing macroeconomic conditions as the world heads into a Fourth Turning-style reset. Speaking to Anthony Pompliano, Visser stated that people are losing faith in legacy institutions. The analyst believes this will drive capital to BTC. Visser stated,
"Bitcoin is a trustless thing. It was set up first to deal with the fact that I don't trust the banks. Well, now we're past the banks. I don't trust my employer. I don't trust the government. I don't trust the banks. I don't trust the currency. I don't trust the debt. I don't trust anything, and so, I don't see how you all of a sudden get the trust back.”
“Uptober” Rally Under A Cloud
Market experts are questioning whether markets will see a rally in October after prices plunged on Monday. Historically, October has been one of the most bullish months for Bitcoin, with the flagship cryptocurrency registering gains in 10 out of 12 Octobers since 2013. Bitcoin has not seen a bearish October since 2018, when it fell just under 4%. The asset’s value rose 48% in October during the 2017 bull market, and 40% in October 2021. Despite BTC’s recent struggles, some analysts are confident “Uptober” will return. Bitcoiner Kyle Chassé stated that the chances of another Federal Reserve rate cut in October are increasing. According to CME futures predictions, there is a 92% chance of a rate cut next month.
Another analyst believes markets will drop lower before rebounding in October.
“As I’ve been saying for a wee while, $112,500 is the number, and when we get there, we will see the usual suspects calling for rate cuts being bearish and market topping. After we get this over with, it’s on to new highs and the start of the explosive final leg that will push the market into euphoria.”
However, some analysts cautioned against over-optimism. Augustine Fan, head of insights at SignalPlus, stated,
“We expect any BTC rallies to be relatively muted given the extremely low implied volatility and upside skews, weakening DAT inflow momentum, and presence of profit takers still looking to sell to cap upside. Longer-term investors will have to be more patient before we expect new ATHs to be reached.”
Metaplanet, Strategy Add To Bitcoin Holdings
Metaplanet and Michael Saylor’s Strategy added to their Bitcoin holdings after the Federal Reserve cut interest rates for the first time this year. Japan-listed Metaplanet announced a fresh purchase of 5,419 BTC for $632.53 million, in a move that strengthens its Bitcoin strategy. The firm bought the tokens at an average price of $116,724 per coin. Metaplanet CEO Simon Gerovich announced the purchase in a post on X, stating,
The latest purchase elevates Metaplanet among the top 5 largest corporate holders of the asset. It is also the company’s largest Bitcoin purchase to date, allowing it to achieve a BTC Yield of 395.1% YTD 2025. Metaplanet initially planned to accumulate 10,000 BTC by the end of 2025. However, the company has revised this figure to 21,000 BTC by the end of 2026.
Meanwhile, Michael Saylor’s Strategy also announced its latest Bitcoin purchase. According to the company’s announcement, it purchased 850 BTC for $99.7 million during the week ending Sunday. Strategy purchased at an average price of $117,344 per coin. The latest acquisition takes Strategy’s total holdings to 639,835 BTC, purchased for about $47.3 billion.
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) has registered a dramatic decline during the ongoing session, plunging to a low of $111,761. However, it has made a slight recovery to reclaim $112,000 and is currently trading around $112,944. BTC has struggled to regain momentum after Friday’s drop, which took the price below $116,000. The price registered a marginal increase on Saturday but was back in the red on Sunday, dropping 0.41% to $115,282. Selling pressure has intensified during the ongoing session, thanks to lingering economic uncertainty and optimism around rate cuts offset by future easing.
BTC’s decline can be attributed to the fact that the crypto market has been hit by its largest liquidation wave since December 2024, with $1.70 billion in leveraged positions wiped out in 24 hours as over 390,000 traders were liquidated. Ethereum saw over $500 million liquidated, while Bitcoin registered losses of $287 million. Solana saw $95.92 million in liquidations, while Ripple and Dogecoin registered $77.96 million and $61.32 million.
BTC ended the previous weekend in the red, dropping 0.56% and settling at $115,314. The price faced volatility on Monday as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand as BTC registered a marginal increase and settled at $115,381. Bullish sentiment intensified on Tuesday as the price rose 1.26% to cross $116,000 and settle at $116,832. Selling pressure returned on Wednesday as BTC fell to an intraday low of $114,724. It recovered from this level to settle at $116,484, ultimately dropping 0.30%.
Source: TradingView
BTC reached an intraday high of $117,998 on Thursday. However, it could not stay at this level and settled at $117,117. The price lost momentum on Friday, dropping 1.22% to $115,690 before registering a marginal increase on Saturday. BTC was back in the red on Sunday, falling 0.41% and ending the weekend at $115,282. Selling pressure has intensified during the ongoing session, with the price down over 2%, trading around $112,992 after recovering from an intraday low of $111,761.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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