Crypto Crash: Blood in the Streets as BTC, ETH, SOL, TAO, JUP Plunge 🩸💸

Ah, the sweet scent of panic in the air-a perfume more potent than a Moscow winter. The cryptocurrency market, once a bustling bazaar of dreams, has transformed into a Chekhovian tragedy, where hopes wither like unloved sunflowers. 🌻💔 Major cryptocurrencies, including Bitcoin (BTC), have tumbled deeper than a nihilist’s thoughts, with altcoins registering declines so steep they’d make a mountain goat blush. 🏔️😱

Liquidations, those cruel harbingers of despair, have piled up like unpaid debts at a tavern. $1.16 billion worth of positions have been wiped out-mostly long positions, of course, because hope is the last thing to die, even in the crypto steppe. 🥃💸

BTC, once soaring above $108,000 like a proud eagle, has been clipped by the wings of selling pressure, plunging below $105,000. Down over 3%, it now trades around $104,043-a fall more dramatic than a Chekhov protagonist’s realization of life’s futility. 🦅⬇️ Ethereum (ETH), not to be outdone in this melodrama, has shed over 6%, trading around $3,491. Solana (SOL), that once-promising star, is down 9%, languishing at $159. Even Dogecoin (DOGE) and Cardano (ADA) have joined the chorus of woe, falling 5% and 6.36% respectively. It’s a symphony of sorrow, conducted by the invisible hand of the market. 🎻🩸

Bitcoin (BTC), Ethereum (ETH), And Altcoins Plunge As Liquidations Mount 🌊💸

“Uptober” ended not with a bang but a whimper, and November has greeted crypto with the warmth of a Siberian frost. BTC, down nearly 4%, and ETH, down over 6%, are bleeding like wounded bears in the forest. 🦝🩸 Liquidations, those vultures of the market, have feasted on $1.16 billion worth of positions, with $1.08 billion being long positions. BTC alone saw $298 million in long positions vanish, while ETH lost $273 million. It’s a massacre, and the only thing rising is the collective blood pressure of traders. 🩸📉

The market’s decline, like a Chekhovian plot twist, comes without an obvious catalyst. The Nasdaq and S&P 500 are in positive territory, yet crypto is drowning in red. Pseudo-anonymous analyst Maartunn offers a shrug and a theory: sell pressure from spot Bitcoin traders and “signs of fragility” in Ethereum charts. 🧐📊

“During strong bullish phases, you often don’t get a retest of a support level because it gets front-run. In more bearish periods, however, such retests are more likely. Multiple tests of the same support level are not a bullish sign. It’s hard to put an exact number on it, but at some point, new buyers simply get exhausted.” 😓💤

Market Seeks Stability After October Disarray 🌀🩹

October’s market crash, like a Chekhovian family drama, drained leverage and risk capital from crypto. Rachel Lin, chief executive at SynFutures, notes that October’s correction has flushed out leverage and reset sentiment. On-chain data shows long-term holders are not capitulating-they’re accumulating like a miser hoarding coins. 🤑💰

“In many ways, October’s correction has done what it needed to: it has flushed out leverage and reset sentiment. On-chain data shows that long-term holders are not capitulating; they’re actively accumulating. Exchange outflows remain steady, and that’s historically a constructive sign.” 🧱🔄

November, however, has started in the red, as markets digest Fed Chair Jerome Powell’s comments like a bitter pill. 🧃💊

Why Is Crypto In The Red? 🩸❓

The cryptocurrency market, like a Chekhovian protagonist, is mired in one of its most existential crises. BTC and other cryptocurrencies have registered declines so heavy they’d make a Russian novel blush. Bearish sentiment dominates, and crypto trader Michaël van de Poppe points to limited tradable supply as a culprit. 🧸📉

“For example, if someone decides to sell just 2% of the total supply, it can cause a big drop because the order books can’t absorb that much selling pressure, especially in a market where most traders have already been liquidated in recent weeks. If you’re holding altcoins, be patient,” van de Poppe says. “The cycle hasn’t peaked yet.” ⏳🙏

Bitcoin (BTC) Price Analysis 📊🔍

BTC, after its worst October since 2018, registered a marginal recovery over the weekend, only to plunge nearly 4% on Monday. It’s down almost 3% during the current session, trading around $103,764. Traders, like Chekhovian characters, are trapped in a cycle of hope and despair. 🌀😔

Analysts believe BTC could face one of its most difficult weeks of Q4 as prices retest range lows. CrypNeuvo notes a potential range low retest, with key confluence at BTC’s 50-week exponential moving average around $101,150. 🧮📉

“It’s a very solid support, so we would see a very aggressive bounce from there.” 🏓💥

Meanwhile, the Crypto Fear & Greed Index has dropped to 21 out of 100, indicating “Extreme Fear.” It’s the lowest in nearly 7 months-a sentiment as bleak as a Chekhovian winter. ❄️😨

Ethereum (ETH) Price Analysis 📊🔍

ETH, like a tragic heroine, has fallen below $3,500 for the first time since October’s crash. It’s down almost 3% during the ongoing session, trading around $3,519. Ethereum treasury companies, like BitMine Immersion and Sharplink, are sitting on substantial unrealized losses-a fate as cruel as a Chekhovian twist. 🏰💔

Solana (SOL) Price Analysis 📊🔍

SOL, despite the success of Solana ETFs, has fallen to a low of $155. It’s down nearly 20% over the past week, a decline more dramatic than a Chekhovian character’s downfall. 🪂⬇️

“The launch of US spot Solana ETFs has been a clear success, drawing strong investor demand despite broader crypto fund outflows.” 🏆💰

Bittensor (TAO) Price Analysis 📊🔍

TAO, after a weekend of mixed fortunes, is down over 10% during the ongoing session, trading around $418. It’s a fall as sudden as a Chekhovian revelation. 🕳️💥

Jupiter (JUP) Price Analysis 📊🔍

JUP, once bullish, is now down nearly 4%, trading around $0.346. It’s a decline as swift as a Chekhovian character’s change of heart. 🪐⬇️

In the end, the crypto market, like a Chekhov play, leaves us with more questions than answers. Will the protagonists find redemption, or will they be swallowed by the abyss? Only time will tell. ⏳🤔

2025-11-04 19:34