Bitcoin Price Today: Why BTC Crashed Below $100K?
Highlights
- Bitcoin price today is down 4% as it crashed below $100K.
- The sale of Meitu's BTC, ETH holdings is one of the reasons for this sudden collapse.
- A break down of the $94.8K support level could knock BTC down to $92.5K.
While Bitcoin cleared $100K, it was brief considering the December 5 crash. Bitcoin price today hovers around $99,889.0 on 11 PM after hitting a daily high of $102,034.0 today after a 3.39% move on October 18.
Bitcoin Price Today: Here’s Why BTC Crashed Below $100K
Bitcoin price crashed 13.53% between December 4 and 5, wiping out an excess of $1.5 billion worth of positions in just 19 hours. On December 5 alone, more than $1 billion worth of longs and short positions got wiped from the cryptocurrency market.
But why did Bitcoin suddenly dip below the historic $100,000 level, and will it recover? Let’s discover!
Meitu, dubbed as the chinese MicroStrategy, sold its crypto holdings, which led to the sudden drop in Bitcoin price on December 4. The Chinese selfie application operator sold 940 BTC and 31,000 ETH, realizing nearly $80 million in profits, the company’s Wednesday statement noted.
Bitcoin price today is up 3.39% and trades at $99,889.0.
*bitcoin price updated as of 11 PM.
Value of BTC trades at $99,889.0, bringing the year-to-date gain from 56% on October 20 to roughly 130% as of October 18. The YTD performance has slumped due to the recent BTC crash. Although many altcoins have shot up over triple digits, Bitcoin is catching up. Ethereum price’s YTD performance is lackluster, stands at 70%, and is well below BTC.
Although Bitcoin is the largest cryptocurrency by market capitalization, Bitcoin’s popularity is due to its first-mover advantage and its being a secure, decentralized network. In addition, many narratives, like digital gold, inflation hedges, and uncorrelated assets, have kept BTC at the forefront of the crypto market since its inception in 2009.
Will Bitcoin End 2024 on Positive Note?
Industry veterans’ speculation of a bull run post-US elections was right, and Bitcoin is likely to end November 2024 on a positive note. Many even expect a six-digit target for BTC by the end of November, and this is due to the historical returns. History shows that Bitcoin has always performed massively in the fourth quarter.
With that said, if Bitcoin price hits a new ATH in November or December, Bitcoin’s market capitalization, which stands at $1,975.7 billion, could finally hit the $2 trillion mark.
Bitcoin’s Market Capitalization
While Bitcoin’s market cap hovers around $1,975.7 billion, with Ethereum, the duo controls nearly 65% of the total cryptocurrency market capitalization. Despite the seven-month consolidation, Bitcoin’s $1.93 trillion market cap remains strong, anticipating it reaching $2 trillion before 2025.
BTC: A composition of 24-hour Trading Volume
Being the top crypto has its benefits; more people tend to flock toward the asset. Likewise, BTC’s 24-hour trading volume stands at $126.7 billion. Binance, one of the largest cryptocurrency exchanges, contributes a major portion of this volume. Binance’s share of BTC’s 24-hour trading volume comprises spot and perpetuals trading. While spot volume hovers around 11%, perpetual volume is 41%. Exchanges like OKX, Bitget, etc, follow Binance.
Key Bitcoin Upgrades
With a market cap of $1.93 trillion, it is necessary for the network to remain secure, decentralized, and scalable. This is possible by upgrading the Bitcoin network regularly.
Here are some notable upgrades the Bitcoin network has received or planned to receive since its inception in 2009.
Bitcoin Network Upgrades Since 2009
Here are some key milestone upgrades to the Bitcoin network over the past decade.
2020-2024:
- Taproot Upgrade (2021): Improved Bitcoin’s smart contract functionality, allowing for more complex transactions and enhanced privacy.Muir Glacier Upgrade (2020): Delayed the “ice age” that would have slowed down the network, ensuring the continued smooth operation of Bitcoin.
2017-2019:
- Segregated Witness (SegWit) Upgrade (2017): Increased the block size limit, allowing for more transactions to be processed on the network, and improved the overall scalability of Bitcoin.
- Schnorr/Tapscript Upgrade (proposed): Aims to further improve the efficiency and scalability of Bitcoin transactions, but has not yet been activated.
- SegWit2x (canceled): A proposed upgrade that aimed to increase the block size limit, but was ultimately canceled due to lack of consensus.
2015-2016:
- Bitcoin Core 0.12.0 Upgrade (2016): Introduced several improvements, including better wallet management and enhanced security features.
- BIP66 Upgrade (2015): Standardized the way Bitcoin transactions are verified, improving the overall security and reliability of the network.
2013-2014:
- Bitcoin Core 0.9.0 Upgrade (2014): Introduced a new wallet format and improved the overall performance of the Bitcoin client.
- BIP0016 Upgrade (2013): Enabled the use of payment protocol, allowing for more efficient and secure transactions.
2010-2012:
- Pay-to-Script-Hash (P2SH) Upgrade (2012): Introduced a new type of transaction that allows for more complex payment scenarios, improving the overall flexibility of the Bitcoin network.
- Bitcoin Core 0.6.0 Upgrade (2011): Introduced several improvements, including better wallet management and enhanced security features.
2009-2010:
- Bitcoin Core 0.3.0 Upgrade (2009): One of the earliest upgrades to the Bitcoin network, introducing several key features and improvements.
Bitcoin Price Outlook For Next 30 Days
| Date | Price | Change |
|---|---|---|
| October 17, 2025 | 111633.11 | 0.3% |
| October 18, 2025 | 114650.40 | 3.02% |
| October 19, 2025 | 118409.20 | 6.39% |
| October 20, 2025 | 122356.44 | 9.94% |
| October 21, 2025 | 125461.23 | 12.73% |
| October 22, 2025 | 124900.26 | 12.23% |
| October 23, 2025 | 123324.35 | 10.81% |
| October 24, 2025 | 121556.92 | 9.22% |
| October 25, 2025 | 122143.02 | 9.75% |
| October 26, 2025 | 123081.14 | 10.59% |
| October 27, 2025 | 123740.03 | 11.18% |
| October 28, 2025 | 123591.16 | 11.05% |
| October 29, 2025 | 123018.64 | 10.53% |
| October 30, 2025 | 122481.94 | 10.05% |
| October 31, 2025 | 122093.48 | 9.7% |
| November 01, 2025 | 122143.06 | 9.75% |
| November 02, 2025 | 119888.32 | 7.72% |
| November 03, 2025 | 118005.53 | 6.03% |
| November 04, 2025 | 117257.21 | 5.36% |
| November 05, 2025 | 116779.80 | 4.93% |
| November 06, 2025 | 115541.89 | 3.82% |
| November 07, 2025 | 114690.76 | 3.05% |
| November 08, 2025 | 115577.16 | 3.85% |
| November 09, 2025 | 115759.12 | 4.01% |
| November 10, 2025 | 116276.18 | 4.48% |
| November 11, 2025 | 116912.23 | 5.05% |
| November 12, 2025 | 116400.46 | 4.59% |
| November 13, 2025 | 115630.04 | 3.9% |
| November 14, 2025 | 114872.79 | 3.22% |
| November 15, 2025 | 114252.39 | 2.66% |
Based on Coingape’s Bitcoin price prediction, investors can expect a double-digit rally that leads to a peak of $108,918 as of December 31. While there may be a brief correction, BTC’s trend remains bullish. Bitcoin Price Forecast Between 2025 and 2029
Bitcoin Price Outlook Between 2025 & 2029
| Month | Minimum Price | Average Price | Maximum Price | Potential ROI |
|---|---|---|---|---|
| January | $112,049.49 | $123,317.56 | $117,683.53 | 6% |
| February | $110,961.78 | $121,173.89 | $116,067.83 | 4.6% |
| March | $109,874.06 | $119,030.22 | $114,452.14 | 3.1% |
| April | $108,786.34 | $116,886.55 | $112,836.45 | 1.7% |
| May | $107,698.63 | $114,742.88 | $111,220.75 | 0.21% |
| June | $106,610.91 | $112,599.21 | $109,605.06 | -1.2% |
| July | $105,523.19 | $110,455.53 | $107,989.37 | -2.7% |
| August | $104,435.48 | $108,311.86 | $106,373.67 | -4.2% |
| September | $103,347.76 | $106,168.19 | $104,757.98 | -5.6% |
| October | $102,260.04 | $104,024.52 | $103,142.29 | -7.1% |
| November | $101,172.33 | $101,880.85 | $101,526.59 | -8.5% |
| December | $100,084.61 | $99,737.18 | $99,910.90 | -10% |
| All Time | $106,067.05 | $111,527.37 | $108,797.21 | -2% |
| Month | Minimum Price | Average Price | Maximum Price | Potential ROI |
|---|---|---|---|---|
| January | $115,334.31 | $115,697.08 | $120,099.24 | 8.2% |
| February | $130,584.01 | $131,656.98 | $140,287.58 | 26.4% |
| March | $145,833.71 | $147,616.89 | $160,475.93 | 44.6% |
| April | $161,083.41 | $163,576.79 | $180,664.27 | 62.8% |
| May | $176,333.11 | $179,536.69 | $200,852.61 | 81% |
| June | $191,582.81 | $195,496.59 | $221,040.95 | 99.2% |
| July | $206,832.50 | $211,456.49 | $241,229.29 | 117.4% |
| August | $222,082.20 | $227,416.39 | $261,417.63 | 135.5% |
| September | $237,331.90 | $243,376.30 | $281,605.98 | 153.7% |
| October | $252,581.60 | $259,336.20 | $301,794.32 | 171.9% |
| November | $267,831.30 | $275,296.10 | $321,982.66 | 190.1% |
| December | $283,081 | $291,256 | $342,171 | 208.3% |
| All Time | $199,207.65 | $203,476.54 | $231,135.12 | 108.3% |
| Month | Minimum Price | Average Price | Maximum Price | Potential ROI |
|---|---|---|---|---|
| January | $293,105.67 | $301,570.33 | $354,786.17 | 219.7% |
| February | $303,130.33 | $311,884.67 | $367,401.33 | 231% |
| March | $313,155 | $322,199 | $380,016.50 | 242.4% |
| April | $323,179.67 | $332,513.33 | $392,631.67 | 253.8% |
| May | $333,204.33 | $342,827.67 | $405,246.83 | 265.1% |
| June | $343,229 | $353,142 | $417,862 | 276.5% |
| July | $353,253.67 | $363,456.33 | $430,477.17 | 287.9% |
| August | $363,278.33 | $373,770.67 | $443,092.33 | 299.2% |
| September | $373,303 | $384,085 | $455,707.50 | 310.6% |
| October | $383,327.67 | $394,399.33 | $468,322.67 | 322% |
| November | $393,352.33 | $404,713.67 | $480,937.83 | 333.3% |
| December | $403,377 | $415,028 | $493,553 | 344.7% |
| All Time | $348,241.33 | $358,299.17 | $424,169.58 | 282.2% |
| Month | Minimum Price | Average Price | Maximum Price | Potential ROI |
|---|---|---|---|---|
| January | $417,320.67 | $429,730 | $511,190.25 | 360.6% |
| February | $431,264.33 | $444,432 | $528,827.50 | 376.5% |
| March | $445,208 | $459,134 | $546,464.75 | 392.4% |
| April | $459,151.67 | $473,836 | $564,102 | 408.3% |
| May | $473,095.33 | $488,538 | $581,739.25 | 424.2% |
| June | $487,039 | $503,240 | $599,376.50 | 440% |
| July | $500,982.67 | $517,942 | $617,013.75 | 455.9% |
| August | $514,926.33 | $532,644 | $634,651 | 471.8% |
| September | $528,870 | $547,346 | $652,288.25 | 487.7% |
| October | $542,813.67 | $562,048 | $669,925.50 | 503.6% |
| November | $556,757.33 | $576,750 | $687,562.75 | 519.5% |
| December | $570,701 | $591,452 | $705,200 | 535.4% |
| All Time | $494,010.83 | $510,591 | $608,195.13 | 448% |
| Month | Minimum Price | Average Price | Maximum Price | Potential ROI |
|---|---|---|---|---|
| January | $592,288.17 | $613,774.33 | $729,717.58 | 557.5% |
| February | $613,875.33 | $636,096.67 | $754,235.17 | 579.6% |
| March | $635,462.50 | $658,419 | $778,752.75 | 601.7% |
| April | $657,049.67 | $680,741.33 | $803,270.33 | 623.8% |
| May | $678,636.83 | $703,063.67 | $827,787.92 | 645.8% |
| June | $700,224 | $725,386 | $852,305.50 | 667.9% |
| July | $721,811.17 | $747,708.33 | $876,823.08 | 690% |
| August | $743,398.33 | $770,030.67 | $901,340.67 | 712.1% |
| September | $764,985.50 | $792,353 | $925,858.25 | 734.2% |
| October | $786,572.67 | $814,675.33 | $950,375.83 | 756.3% |
| November | $808,159.83 | $836,997.67 | $974,893.42 | 778.4% |
| December | $829,747 | $859,320 | $999,411 | 800.5% |
| All Time | $711,017.58 | $736,547.17 | $864,564.29 | 679% |
In the next year, aka 2025, Bitcoin price is likely to stay well above the six-digit territory and shows no signs of correction below it. Coingape’s Bitcoin price prediction data reveals a peak of $104,280.26 in February 2025.
Bitcoin Price Outlook Between 2030 and 2050
| Month | Minimum Price | Average Price | Maximum Price | Potential ROI |
|---|---|---|---|---|
| January | $860,788.25 | $890,761.25 | $1,035,646.25 | 833.1% |
| February | $891,829.50 | $922,202.50 | $1,071,881.50 | 865.8% |
| March | $922,870.75 | $953,643.75 | $1,108,116.75 | 898.4% |
| April | $953,912 | $985,085 | $1,144,352 | 931.1% |
| May | $984,953.25 | $1,016,526.25 | $1,180,587.25 | 963.7% |
| June | $1,015,994.50 | $1,047,967.50 | $1,216,822.50 | 996.4% |
| July | $1,047,035.75 | $1,079,408.75 | $1,253,057.75 | 1029% |
| August | $1,078,077 | $1,110,850 | $1,289,293 | 1061.7% |
| September | $1,109,118.25 | $1,142,291.25 | $1,325,528.25 | 1094.3% |
| October | $1,140,159.50 | $1,173,732.50 | $1,361,763.50 | 1127% |
| November | $1,171,200.75 | $1,205,173.75 | $1,397,998.75 | 1159.6% |
| December | $1,202,242 | $1,236,615 | $1,434,234 | 1192.3% |
| All Time | $1,031,515.13 | $1,063,688.13 | $1,234,940.13 | 1012.7% |
| Month | Minimum Price | Average Price | Maximum Price | Potential ROI |
|---|---|---|---|---|
| January | $1,255,606.58 | $1,292,267.75 | $1,489,974.50 | 1242.5% |
| February | $1,308,971.17 | $1,347,920.50 | $1,545,715 | 1292.7% |
| March | $1,362,335.75 | $1,403,573.25 | $1,601,455.50 | 1342.9% |
| April | $1,415,700.33 | $1,459,226 | $1,657,196 | 1393.2% |
| May | $1,469,064.92 | $1,514,878.75 | $1,712,936.50 | 1443.4% |
| June | $1,522,429.50 | $1,570,531.50 | $1,768,677 | 1493.6% |
| July | $1,575,794.08 | $1,626,184.25 | $1,824,417.50 | 1543.8% |
| August | $1,629,158.67 | $1,681,837 | $1,880,158 | 1594% |
| September | $1,682,523.25 | $1,737,489.75 | $1,935,898.50 | 1644.3% |
| October | $1,735,887.83 | $1,793,142.50 | $1,991,639 | 1694.5% |
| November | $1,789,252.42 | $1,848,795.25 | $2,047,379.50 | 1744.7% |
| December | $1,842,617 | $1,904,448 | $2,103,120 | 1794.9% |
| All Time | $1,549,111.79 | $1,598,357.88 | $1,796,547.25 | 1518.7% |
| Month | Minimum Price | Average Price | Maximum Price | Potential ROI |
|---|---|---|---|---|
| January | $1,915,558.67 | $1,978,585.25 | $2,194,599.50 | 1877.4% |
| February | $1,988,500.33 | $2,052,722.50 | $2,286,079 | 1959.8% |
| March | $2,061,442 | $2,126,859.75 | $2,377,558.50 | 2042.2% |
| April | $2,134,383.67 | $2,200,997 | $2,469,038 | 2124.6% |
| May | $2,207,325.33 | $2,275,134.25 | $2,560,517.50 | 2207.1% |
| June | $2,280,267 | $2,349,271.50 | $2,651,997 | 2289.5% |
| July | $2,353,208.67 | $2,423,408.75 | $2,743,476.50 | 2371.9% |
| August | $2,426,150.33 | $2,497,546 | $2,834,956 | 2454.3% |
| September | $2,499,092 | $2,571,683.25 | $2,926,435.50 | 2536.8% |
| October | $2,572,033.67 | $2,645,820.50 | $3,017,915 | 2619.2% |
| November | $2,644,975.33 | $2,719,957.75 | $3,109,394.50 | 2701.6% |
| December | $2,717,917 | $2,794,095 | $3,200,874 | 2784% |
| All Time | $2,316,737.83 | $2,386,340.13 | $2,697,736.75 | 2330.7% |
| Month | Minimum Price | Average Price | Maximum Price | Potential ROI |
|---|---|---|---|---|
| January | $2,817,183.50 | $2,896,327 | $3,323,170.25 | 2894.2% |
| February | $2,916,450 | $2,998,559 | $3,445,466.50 | 3004.4% |
| March | $3,015,716.50 | $3,100,791 | $3,567,762.75 | 3114.6% |
| April | $3,114,983 | $3,203,023 | $3,690,059 | 3224.8% |
| May | $3,214,249.50 | $3,305,255 | $3,812,355.25 | 3335% |
| June | $3,313,516 | $3,407,487 | $3,934,651.50 | 3445.2% |
| July | $3,412,782.50 | $3,509,719 | $4,056,947.75 | 3555.4% |
| August | $3,512,049 | $3,611,951 | $4,179,244 | 3665.6% |
| September | $3,611,315.50 | $3,714,183 | $4,301,540.25 | 3775.8% |
| October | $3,710,582 | $3,816,415 | $4,423,836.50 | 3885.9% |
| November | $3,809,848.50 | $3,918,647 | $4,546,132.75 | 3996.1% |
| December | $3,909,115 | $4,020,879 | $4,668,429 | 4106.3% |
| All Time | $3,363,149.25 | $3,458,603 | $3,995,799.63 | 3500.3% |
| Month | Minimum Price | Average Price | Maximum Price | Potential ROI |
|---|---|---|---|---|
| January | $5,501,903.50 | $6,011,214.58 | $6,285,974.17 | 5563.8% |
| February | $5,495,202 | $5,991,110.17 | $6,259,168.33 | 5539.6% |
| March | $5,488,500.50 | $5,971,005.75 | $6,232,362.50 | 5515.4% |
| April | $5,481,799 | $5,950,901.33 | $6,205,556.67 | 5491.3% |
| May | $5,475,097.50 | $5,930,796.92 | $6,178,750.83 | 5467.1% |
| June | $5,468,396 | $5,910,692.50 | $6,151,945 | 5443% |
| July | $5,461,694.50 | $5,890,588.08 | $6,125,139.17 | 5418.8% |
| August | $5,454,993 | $5,870,483.67 | $6,098,333.33 | 5394.7% |
| September | $5,448,291.50 | $5,850,379.25 | $6,071,527.50 | 5370.5% |
| October | $5,441,590 | $5,830,274.83 | $6,044,721.67 | 5346.4% |
| November | $5,434,888.50 | $5,810,170.42 | $6,017,915.83 | 5322.2% |
| December | $5,428,187 | $5,790,066 | $5,991,110 | 5298.1% |
| All Time | $5,465,045.25 | $5,900,640.29 | $6,138,542.08 | 5430.9% |
| Month | Minimum Price | Average Price | Maximum Price | Potential ROI |
|---|---|---|---|---|
| January | $7,013,083.67 | $7,344,805.92 | $7,612,864.75 | 6759.3% |
| February | $7,029,837.33 | $7,371,611.83 | $7,666,476.50 | 6807.6% |
| March | $7,046,591 | $7,398,417.75 | $7,720,088.25 | 6855.9% |
| April | $7,063,344.67 | $7,425,223.67 | $7,773,700 | 6904.2% |
| May | $7,080,098.33 | $7,452,029.58 | $7,827,311.75 | 6952.5% |
| June | $7,096,852 | $7,478,835.50 | $7,880,923.50 | 7000.8% |
| July | $7,113,605.67 | $7,505,641.42 | $7,934,535.25 | 7049.1% |
| August | $7,130,359.33 | $7,532,447.33 | $7,988,147 | 7097.4% |
| September | $7,147,113 | $7,559,253.25 | $8,041,758.75 | 7145.7% |
| October | $7,163,866.67 | $7,586,059.17 | $8,095,370.50 | 7194% |
| November | $7,180,620.33 | $7,612,865.08 | $8,148,982.25 | 7242.4% |
| December | $7,197,374 | $7,639,671 | $8,202,594 | 7290.7% |
| All Time | $7,105,228.83 | $7,492,238.46 | $7,907,729.38 | 7025% |
Roughly five years from now, aka 2030, Bitcoin’s price will see an explosion to the upside, with an all-time high of $774,474 in the aforementioned year. In the same period, BTC could reach a low of $465,154.42. Based on CoinGape predictions, the average price of BTC in 2050 is between $2.9 million and $3.3 million.
Investors should note that these long-term predictions can change and, hence, should be taken with a grain of salt.
Bitcoin Price Analysis: Will BTC Recover Above $100K?
According to Capriole Funds, Thursday’s Bitcoin price crash isn’t out of the ordinary. The investment company’s founder Charles Edwards notes how BTC has always produced a whipsaw price action when it crosses key psychological levels like $1,000, $10,000, $100,000.
Edwards adds that this is “normal.”
After the December 5 crash, the one-hour chart shows that Bitcoin is finding support on the inclined trend line. The Relative Strength Index (RSI) is bouncing off the 50 mean level, suggesting a potential recovery rally. The Awesome Oscillator (AO) shows that the bullish momentum is declining, but has not flipped bearish as the histograms hover above the zero mean level.
On the other hand, if Bitcoin price fails to hold above the inclined trend line and slides lower, it would denote that the recent crash is just the beginning. In such a case, BTC could revisit the $94.8K support level, a breakdown of which would invalidate the bullish thesis and trigger a near-3% downtick to $92.5K.
CoinGape prepared a review methodology to rate crypto exchanges, tools, and apps. We curated a list of metrics to evaluate crypto platforms based on their services, user experience, security and customer support, payment gateways and charges, pricing and promotions. Visit our Review Methodology page to learn more about how we review each crypto platform.
This content is purely for educational purposes and should not be considered as financial advice. Do your own research before investing in any crypto platform and only invest the amount you can afford to lose.
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