Bitcoin's price tumbled below $105,000 on October 17, 2025, driving the total cryptocurrency market capitalization down by 5.9% to $3.64 trillion, its lowest level since July 2025, according to CoinGecko data. The sell-off was intensified by a flight to safety amid fears over U.S. regional bank stability, with Derek Lim, head of research at Caladan, explaining that loan book issues at lenders like Zions Bancorporation and Western Alliance triggered a risk-off sentiment that bled into crypto markets.
Altcoins faced sharp declines, with Ethereum dropping 7.4%, while XRP, Solana, Tron, Dogecoin, and Cardano saw losses ranging from 4% to 9%. BNB led the downturn with a 12.3% plunge over 24 hours. Geopolitical tensions added pressure, as former President Donald Trump's announcement of a 100% tariff on all Chinese imports exacerbated market fears, contributing to the volatility.
The widespread correction forced a massive unwind of leveraged positions, with total liquidations hitting $1.09 billion, per CoinGlass data, and Bitcoin and Ethereum traders accounting for over 55% of the total. Despite short-term bearishness, with a 68% chance of Bitcoin falling to $100,000, some optimism persists for a potential recovery based on market structure.
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