Bitcoin crashes below $100,000, causing panic in the market as the sell-off intensifies

Bitcoin fell more than 4% over the past 24 hours to trade at the $97,451 level on Friday, crashing below the $100,000 psychological barrier and causing panic in the markets as the sell-off intensifies.Ethereum fell more than 9% in the past 24 hours, trading at the $3,151 level. Among the major altcoins, XRP, BNB, Solana, Tron, Dogecoin, Cardano and Hyperliquid are down more than 8% over the same period.

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CoinDCX Research Team says that top altcoins such as Ethereum, XRP, Solana, Dogecoin, etc., and a few others experienced some upward pressure but continue to trade above their respective support zones.

Crypto market sentiment is slowly moving towards extreme fear as the BTC price loses the $100,000 threshold while gold and silver rise, the CoinDCX Research Team added.

Bitcoin and Ethereum have fallen 4.13% and 5.09% respectively in the past week. Major altcoins such as

Edul Patel, CEO of Mudrex, says the crypto market continues to consolidate, with Bitcoin trading at $99,300 and Ethereum hovering at $3,200. Although the US government has reopened, delays in key economic reports have increased near-term uncertainty surrounding the Fed’s December interest rate decision.

“However, long-term sentiment remains strong as whales continue to accumulate and have purchased over 45,000 BTC in the past week. This steady demand shows confidence and is helping to build underlying market strength. For now, $96,000 acts as a key support for BTC, while immediate resistance stands at $102,500,” Patel added.

Market perspective

Riya Sehgal, Research Analyst, Delta Exchange

Crypto markets have transitioned into a clear risk-off sentiment, paralleling the broader pullback in global assets. The sharp rise in volatility, including more than $700 million in liquidations over the past day, shows traders are rapidly reducing debt as expectations around monetary easing and near-term liquidity diminish.Also read | MCX, Mazagon Dock and RIL are among the top stocks bought and sold by mutual funds in October

Bitcoin On-chain patterns indicate measured profit-taking by long-term players, a behavior that typically occurs in the later stages of an expansion phase. Technically, BTC remains confined to the major moving averages, with immediate resistance around $101,500-$103,200 and key support around $98,500. A full breakout of that floor could open up space near the mid-$96,000s.

Ethereum is under stronger technical pressure and is down more than 5% after giving up the USD 3,350 level. Unless it recovers the $3,350-$3,500 zone, momentum is likely to remain defensive.