{"id":20749,"date":"2025-11-05T13:00:00","date_gmt":"2025-11-05T13:00:00","guid":{"rendered":"https:\/\/investx.fr\/en\/?p=20749"},"modified":"2025-11-05T12:20:47","modified_gmt":"2025-11-05T12:20:47","slug":"why-did-crypto-market-crash-bitcoin-spx","status":"publish","type":"post","link":"https:\/\/investx.fr\/en\/noticias-cripto\/why-did-crypto-market-crash-bitcoin-spx\/","title":{"rendered":"Why Did the Crypto Market Crash So Hard Yesterday ?"},"content":{"rendered":"\n

Why is the Crypto Market Crashing Today ?<\/h2>\n\n\n\n

Today’s session will remain etched in the minds of crypto<\/a> traders. The total market capitalization of cryptocurrencies (TOTAL<\/strong>) has recorded a violent correction of $150 billion<\/strong> over the last 24 hours, now standing at $3.35 trillion<\/strong>. This drop comes within a broader context of correction in global financial markets, with cryptos, as often happens, amplifying the downward movements observed in traditional assets.<\/p>\n\n\n\n

Bitcoin<\/a>, the undisputed barometer of the sector, has broken below the critical level of $100,000<\/strong> for the first time in three months. BTC touched an intraday low of $98,944<\/strong>, triggering a wave of liquidations and anxiety<\/strong> among investors. This support breach constitutes a particularly concerning technical signal for the market’s bullish structure.<\/p>\n\n\n\n

For altcoins, the situation appears even more dramatic. SPX6900<\/strong>, a popular memecoin, shows the worst performance of the day with a plunge of 19%<\/strong>. The token is currently trading around $0.669<\/strong>, victim of intense selling pressure that could intensify in the coming sessions.<\/p>\n\n\n\n

Paradoxically, the crypto ecosystem continues to record major institutional advancements. BlackRock<\/strong> has just launched its Bitcoin ETF<\/a> iShares (IBIT) in Australia<\/strong>, thus expanding the geographical footprint of a product that already totals $98 billion in assets under management<\/strong> in the United States. This expansion testifies to the growing institutional appetite for cryptos, even during periods of increased volatility.<\/p>\n\n\n\n

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Bitcoin : Does Breaking Below $100,000 Mark a Turning Point?<\/h2>\n\n\n\n

The technical analysis of Bitcoin reveals a delicate situation for the bulls. The drop below $100,000<\/strong> represents much more than a simple correction: it’s a break of a major psychological and technical support level that had served as a floor for several weeks. BTC is now evolving in a zone of uncertainty, painfully navigating above the support located at $101,477<\/strong>.<\/p>\n\n\n\n

Technical indicators show a deterioration in bullish momentum<\/strong>. The transaction volume during the breakdown suggests significant bearish conviction from sellers. If this dynamic continues and panic selling intensifies, the next downside target would be around $98,000, or even $95,000<\/strong> in case of widespread capitulation.<\/p>\n\n\n

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\"Bitcoin<\/figure>\n<\/div>\n\n\n

However, the scenario is not necessarily catastrophic in the medium term. Sustained accumulation near current levels could allow BTC to bounce toward the resistance at $105,000<\/strong>, $108,000<\/strong> or even $111,000<\/strong> where many shorts are waiting to be liquidated. The zones between $98,000 and $102,000<\/strong> historically represent accumulation levels favored by long-term investors, which could limit the depth of the correction.<\/p>\n\n\n\n

Caution remains necessary: the global macroeconomic context, with traditional markets under pressure, does not favor an immediate recovery. Traders should carefully monitor exchange volumes and liquidation levels to anticipate Bitcoin’s next directional movement.<\/p>\n\n\n\n

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Memecoins in Turmoil : SPX6900 and the Death Cross<\/h2>\n\n\n\n

SPX6900<\/strong> crystallizes all the fears in the altcoin market today. Its 20% drop in 24 hours<\/strong> comes with a technical signal particularly dreaded by chartists: the formation of a death cross<\/strong>. This pattern, characterized by the 50-day moving average crossing below the 200-day moving average, typically signals an intensification of selling pressure.<\/p>\n\n\n

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\"SPX6900<\/figure>\n<\/div>\n\n\n

At $0.669, SPX is dangerously close to its immediate support. A break of this level would open the path to a potential descent toward $0.507<\/strong> if sellers maintain their dominance. For memecoins<\/a>, characterized by extreme volatility and often limited liquidity, these movements can accelerate rapidly.<\/p>\n\n\n\n

The memecoin segment is bearing the full brunt of the capital rotation observed in recent weeks<\/strong>. Investors are now prioritizing capital preservation<\/strong> and repositioning themselves in assets perceived as less risky, leaving speculative tokens to undergo disproportionate corrections.<\/p>\n\n\n\n

However, the recent history of the crypto market shows that memecoins can bounce back as violently as they fall. A resurgence of speculative interest or the emergence of a new narrative could propel SPX toward the resistance at $0.817<\/strong>, temporarily invalidating the bearish trend. The key lies in the token’s ability to maintain current support and attract new buying flows.<\/p>\n\n\n\n

Crypto Regulatory Developments in the Background<\/h2>\n\n\n\n

Despite the brutal correction, the regulatory infrastructure for cryptocurrencies continues to consolidate globally. Canada is preparing to integrate a comprehensive regulatory framework for stablecoins backed by fiat currencies into its 2025 federal budget. This initiative is part of a global movement toward increased supervision of the sector, similar to efforts deployed in the United States.<\/p>\n\n\n\n

The rules proposed by Ottawa<\/strong> impose strict obligations on stablecoin issuers: holding adequate reserves, transparent redemption policies, and high standards of data protection. The Bank of Canada<\/strong> has allocated $10 million<\/strong> to facilitate the implementation of this framework, demonstrating authorities’ willingness to structure the market without stifling it.<\/p>\n\n\n\n

These regulatory developments, although constraining in the short term, contribute to the maturation of the crypto sector<\/strong>. They reassure institutional investors and pave the way for broader adoption of digital assets. In a context of extreme volatility like today’s, these solid foundations constitute a bulwark against speculative excesses and systemic drifts.<\/p>\n\n\n\n

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