Bitcoin Drops Below $100K in Weekend Plunge — What’s Behind the Sudden Slide?

Bitcoin fell sharply on Sunday, dropping over 4% to $99,237 by 10:52 a.m. ET (1452 GMT), according to market data. The decline pushed the world’s most valuable cryptocurrency below the closely watched $100,000 level, raising fresh questions about short-term momentum after months of upward movement.

Ethereum (ETH), the second-largest cryptocurrency by market cap, fared even worse, falling 8.52% to $2,199 in the same window. The steep losses come as digital asset markets appear to be entering a corrective phase following a stretch of bullish sentiment and institutional inflows.

Sunday’s move reflects a broader shift in tone across risk assets. Analysts attribute the selloff to a mix of profit-taking, cooling liquidity, and ongoing uncertainty over monetary policy, particularly in the U.S. where the Federal Reserve’s next move on interest rates remains unclear. Several major altcoins were also in the red, contributing to a near $100 billion drop in total crypto market capitalization over the past 24 hours.

Despite strong ETF inflows and recent halving-driven optimism, some traders had warned that Bitcoin’s rapid rise past six figures was vulnerable to a near-term pullback. Technical indicators had shown signs of overextension, and sell orders began accumulating at key resistance zones late last week.

Meanwhile, derivative markets have also seen a surge in liquidations. According to data from Coinglass, over $300 million in leveraged long positions were wiped out over the last 24 hours, suggesting that part of Sunday’s price action was driven by forced unwinding of bets on further upside.

Market watchers now look to this week’s economic calendar, including inflation data and Federal Reserve commentary, for cues on whether the latest crypto correction deepens or stabilizes.

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