Monster Bitcoin crash alert as BTC erodes $146 billion in a day

Bitcoin’s ( BTC ) losing streak deepened on October 17, with the flagship cryptocurrency plunging to just above $104,000 and shedding almost $150 billion in market value in less than 24 ￰0￱ decline pushed BTC’s market capitalization from $2.216 trillion on October 16 to $2.07 trillion, raising fears that the $100,000 threshold could be tested in the coming ￰1￱ latest drop was triggered by a renewed escalation in U. S.–China trade ￰2￱ Trump’s threat of 100% tariffs on Chinese imports sent shockwaves across global risk assets, driving investors toward gold while draining liquidity from ￰3￱ Bitcoin ETFs recorded $536 million in outflows on October 16, the largest single-day withdrawal since August, underscoring that even institutional players are retreating in the face of heightened ￰4￱ markets added fuel to the ￰5￱ than $1.15 billion in leveraged Bitcoin longs were liquidated within 48 hours, creating a cascade of forced selling that accelerated the ￰6￱ kind of leverage unwind has repeatedly amplified volatility during periods of macro stress, and October’s selloff was no ￰7￱ price analysis Technicals offered little ￰8￱ broke decisively below $109,000, slipped under its 200-day simple moving average at $107,402, and pierced the expanding channel floor near $99,500.

Indicators remain firmly bearish: the daily RSI sits at 28, deep in oversold territory, while the MACD continues to flash momentum to the ￰9￱ 1-day price chart.