Bitcoin fell again below $77,000 on Nov 2, precipitating a fresh wave of selloffs that saw more than $100 million in cryptocurrency long positions liquidated within 60 minutes. The decline extended to other major digital assets, with Solana dropping below $95, XRP slipping under $1.25, and Ether falling beneath $2,250.
The market has faced extreme volatility over the past week, including a slide below $77,000 on Oct 30 that triggered liquidations of approximately $1.4 billion in long positions. While some reports suggest four separate leveraged funds have faced liquidation during the slump, Kalshi Crypto estimates there is now a 33% chance Bitcoin will drop below $70,000 by the end of November.