Bitcoin (BTC) plunged below $107,000 on Friday, marking one of its steepest declines in months as panic spread across global markets. The drop followed a massive $1.65 trillion wipeout in U.S. stocks after President Trump threatened new tariffs on Chinese imports, sparking a broad risk-off wave.
According to TradingView, BTC is down 13% over the past week with a market cap of $2.11 trillion, while trading volume surged 31% to $94 billion amid heavy liquidations. More than $890 million in leveraged crypto positions were wiped out in 24 hours, mostly from long traders caught in the downturn.
The crash dragged the entire crypto market lower, with Ethereum, Solana, and XRP posting double-digit weekly losses. Analysts warn that Bitcoin’s break below key support around $112,000 could open the door to further downside toward $103,000, though long-term holders appear to be holding firm for now.