Bitcoin slipped below the US$106 000 mark amid a sweeping crypto-market downturn, dragging major altcoins down in tandem and wiping out most of the bounce from October’s crash. The drop triggered over US$1 billion in leveraged liquidations, underscoring how fragile the rebound has become.
Bitcoin’s slide below US$106 000 highlights a deepening sense of caution in digital-asset markets. After hovering around US$110 000 for several weeks with little directional momentum, the breakdown triggered a sharp move—Bitcoin plunged from above US$108 000 down to about US$105 500 in early U.S. trading, representing a 4% drop in 24 hours and roughly 8% over the past week.
Renewed sell-off exposes cracks in crypto rebound
The broader market followed suit. Major altcoins such as Ethereum, Solana and BNB saw declines between 6% and 10% in a single day. Meanwhile, derivatives data from CoinGlass showed more than US$1 billion in leveraged positions liquidated across digital-asset markets — a clear sign that the recent bounce may have been built on shaky ground.
Technically, the significance of US$106 000 is that it sits near the support levels that were established after the major crash in early October. Breaching this zone raises questions about how much of the rebound remains intact. If the price fails to reclaim support quickly, the next key level to watch could be around US$104 000 or even lower.
Fundamentally, the backdrop remains challenging. Regulatory uncertainty, muted institutional flows and macroeconomic risk (such as dovish surprises in U.S. monetary policy) are creating headwinds for crypto. The combination of weak volume, large-holder inactivity and accelerating liquidations points to a market that is cautious rather than confident. In this environment, sentiment rather than fundamental news is driving the move.
In summary: Bitcoin’s drop below US$106 000 is more than just a technical glitch — it signals that the post-October rebound may be unraveling. Until fresh buying arrives and support holds, the risk-off sentiment dominating crypto markets could lead to deeper consolidation or additional declines.
