The cryptocurrency market experienced a significant downturn over the weekend, with Bitcoin hitting several unprecedented milestones.
The decline started on Friday as investors responded to broader economic worries, causing Bitcoin to plummet dramatically from $122,600 down to $107,000.
This downward trend persisted into Saturday, marking three consecutive days of losses since October 6th for Bitcoin.
During Saturday’s sell-off, the total market capitalization of cryptocurrencies dropped to $3.76 trillion. CoinGlass data revealed that this event led to a record-breaking liquidation of digital assets amounting to $19.36 billion.
As I write this update, the overall crypto market cap has decreased further and now stands at $3.72 trillion. Most cryptocurrencies continue trading lower both daily and weekly.
Bitcoin remains in negative territory as well; it has declined by 0.25% over the past day and is down by 11% for the week.
New Milestones for Bitcoin
Despite its declining price during this sell-off period, Bitcoin achieved new records—though not in terms of value increase—as it fell from Friday’s high point of $122,600 back down around approximately$107k mark; notably printing an unprecedented red candle worth twenty thousand dollars ($20k) within one day alone!
The first ever $20,000 #Bitcoin daily candle.
— Bitcoin (@Bitcoin) October 11, 2025
Likewise& #44;a  ;new  ;record was set in futures markets& #58;  ;unfortunately & #44;a  ;less-than-ideal outcome occurred when there was massive open interest wipeout.  ;Accordingly ,  Glassnode reported that bitcoin futures witnessed their largest-ever single-day clearing event totaling more than eleven billion dollars (USD)&period This underscores substantial deleveraging across these exchanges where numerous traders faced losses&period The next critical support level lies at one hundred thousand USD ($100K)&semi any breach below would indicate conclusion regarding prior three-year bull cycle&comma reflected via options contracts having maximum put/sell strikes positioned respectively between110K followed closely behind another set located exactly @100K per Deribit platform insights&period