- Bitcoin dips under $90K with a 29% drawdown from its all-time high.
- Altcoins like ETH, XRP, BNB, DOGE and ADA also trade lower under pressure.
- Over $5B liquidated in one week and $1.2T erased from total crypto value
The cryptocurrency market has entered one of its harshest pullbacks of 2025, with Bitcoin leading the decline after falling below two major price floors in less than a week. It started with Bitcoin slipping under $91,000 for the first time since April 22, marking a 28% drop from its all-time high.
Soon after, a second shockwave hit when Bitcoin broke below $90,000 for the first time in seven months, pushing the total drawdown to nearly 29% from its record peak set on October 6.
Not Just Bitcoin
The correction has not been limited to Bitcoin, as leading altcoins are also showing visible signs of pressure and increased volatility. Ethereum (ETH), the second-largest cryptocurrency by market capitalization, is trading near $2,990 after 6% decline.
XRP is holding around $2.15 with short-term recovery attempts, while Binance Coin (BNB) trades close to $899. Tokens such as TRON (TRX), Dogecoin (DOGE) and Cardano (ADA) have also slipped into the red zone.
Over $5 Billion Liquidated and $1.2 Trillion Erased
The past seven days have recorded more than $5 billion in liquidations, mostly from leveraged traders caught on the wrong side of volatility.
Since October 6, the crypto market has erased nearly $1.2 trillion in total valuation, translating to roughly 28 percent of its entire market worth vanishing in just 42 days.
Historical Context Shows Bitcoin Has Survived Worse
According to The Kobeissi Letter, the current fall is not unusual when compared to Bitcoin’s past cycles.
Since 2017, Bitcoin has seen more than 10 drops of 25%, six deeper crashes of 50%, and three major collapses of 75%. Each time, Bitcoin eventually recovered and went on to hit new record highs.
Last Time Bitcoin Below $90k?
During the market dip, Gemini co-founder Cameron Winklevoss said this could be “the last chance to buy Bitcoin below $90,000.”
Bitcoin is heading into the last quarter of 2025 with a mix of hope and caution. The latest analysis by Coinbase and Glassnode show it can move above $130,000 in the next few months, but they are also worried about things like inflation and central bank decisions.
Long-term holders, steady ETF demand and growing institutional interest continue to support Bitcoin, showing the market is stronger and more mature than in past cycles.
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