Crypto wrap: Bitcoin’s sharp fall drags Ethereum, XRP, Solana and BNB decrease

Bitcoin slides beneath $104K as crypto sell-off deepens.
$1B in crypto liquidations hit merchants inside 24 hours.
Aave, Flare, BCH sink; Jito jumps on a16z funding.

The cryptocurrency market has prolonged its unstable week with a broad sell-off, erasing positive aspects from earlier within the interval amid Bitcoin’s hunch to underneath $104,000.

In the meantime, the worldwide cryptocurrency market capitalization dropped by greater than 3% to $3.5 trillion – earlier than a slight restoration as Bitcoin reclaimed the $107,000 degree.

CoinGlass knowledge confirmed the worldwide crypto liquidations jumped to over $1.04 billion in 24 hours, with longs struggling probably the most ache.

Open curiosity was down 3.8% to $150 billion as Ethereum, XRP, Solana, and BNB all retested, and in some instances, dropped beneath key ranges.

Bitcoin slumps to $103,598

Bitcoin led the market’s steep drop on Friday, October 17, 2025. Whereas the sharp decline was not as bloody because the annihilation seen on Oct. 10, the autumn to lows of $103,500 marked one other huge swing for BTC.

The benchmark digital asset had partially recovered to highs of $106,600 on the time of writing.

Nevertheless, the hunch injected contemporary fears right into a market that witnessed a historic $19 billion liquidation occasion every week prior.

Notably, Bitcoin’s dump got here amid investor jitters throughout Wall Avenue following dangerous loans information from two US regional banks.

A spooked market reacted decrease, and BitMEX co-founder Arthur Hayes shared his view on what that might imply.

$BTC on sale. If this US regional banking wobble grows to a disaster be prepared for a 2023-like bailout. After which buy groceries assuming you’ve spare capital. I obtained my listing, what’s on yours fam? pic.twitter.com/TbuQQI3njN

— Arthur Hayes (@CryptoHayes) October 17, 2025

ETH, XRP, SOL and BNB mirror BTC’s woes

Bitcoin hogged headlines for its sharp drop, with an intraday vary of $109,260 and $103,598. Nevertheless, the rot was widespread and Ethereum, XRP, Solana and BNB all shed a good portion of latest positive aspects.

Particularly, Bitcoin’s woes that aligned with main ETF outflows noticed Ether worth drop to underneath $3,680.

This prolonged the decline beneath the important thing help degree of $4,000, though bulls hovered close to $3,800 on the time of writing.

Crypto analyst Lark Davis mentioned Ethereum is poised at a make-or-break degree.

Ethereum pulling again right into a key zone right here.

Value is testing the weekly 20 EMA — lined up completely with horizontal help and the 0.382 Fib.

Both this space holds and sends it again up, or we begin eyeing the following leg decrease towards the 0.618.

Resolution time for $ETH. pic.twitter.com/JtdsBXsUNC

— Lark Davis (@TheCryptoLark) October 17, 2025

Elsewhere, XRP worth fell greater than 4% to lows of $2.20, effectively off key help of $2.50 and the psychologically necessary $3.00.

Ripple’s acquisition of treasury agency GTreasury and reported $1 billion elevate for XRP may very well be key to bullish sentiment.

Solana, which traded round $182, had declined practically 5% because it touched lows of $174 to inject contemporary bearish sentiment beneath the crucial $200 mark.

The market additionally noticed BNB, one of many prime performers up to now months, endure extra profit-taking as the worth touched lows of $1,024. BNB hit its all-time excessive of $1,370 on Oct. 13.

Aave, Flare, Bitcoin Money amongst prime losers

As the highest altcoins mirrored the BTC downturn, with losses on Wall Avenue catalyzing the dump, Aave, Aster, Flare and Bitcoin Money emerged as a number of the prime losers on the day.

Notably, AAVE was down 13%, ASTER -10%, FLR -9.7% and BCH traded -8% to guide underperformers among the many 100 largest cash by market cap.

Earlier within the day, Zcash fell beneath $190 amid a 20% dip earlier than a slight rebound pushed ZEC above $216. The privateness coin’s worth was 7% down up to now 24 hours.

Ethena, ZORA and Jito have been among the many prime gainers, with Jito benefiting from bullish information associated to a $50 million funding by a16z.