Digital asset markets experienced significant volatility as more than $2 billion in leveraged positions were forcibly liquidated. Bitcoin fell to $82,000 while Ethereum dropped below $2,700. Long position holders accounted for approximately $1.8 billion of the liquidated value across major exchanges, according to Coinglass data.

Bitcoin production costs have climbed to $112,025 per coin while the cryptocurrency trades around $86,000, creating a significant gap between mining expenses and market value. SwanDesk CEO Jacob King states that miner profitability has reached its lowest level in a decade. The cost-price disparity is forcing some operations to liquidate holdings and may trigger network contraction in coming months.

Bitcoin dropped below $82,000 after two months of selling pressure, prompting divergent analyst forecasts. BitMEX co-founder Arthur Hayes says the correction is nearing completion but advises waiting for U.S. equity markets to decline before entering positions. Macro analyst Raoul Pal characterizes the selloff as a typical mid-cycle correction, while veteran trader Peter Brandt projects a further decline to $58,000 before a multi-year recovery.

Wallets holding between one million and ten million XRP tokens sold approximately 200 million tokens valued at $400 million over a 48-hour period, data show. The asset dropped 10.32% in 24 hours, falling below $2 to touch lows near $1.85. Trading volume exceeded $7.2 billion during the selloff, which coincided with broader cryptocurrency market weakness.

Bitwise launched its XRP exchange-traded fund on the New York Stock Exchange on November 20, 2025, attracting $100 million in assets within hours of trading. XRP fell 10% to $1.80 amid broader market selling pressure. Trading volume surged 48% to nearly $9 billion in the past 24 hours.

Ethereum fell 10.9% to a five-month low of $2,650 before rebounding to $2,720. Large holders accumulated $241.84 million worth of ETH during the decline, according to data from CryptoQuant and Onchain Lens. Exchange reserves dropped to a 55-month low of 15.6 million tokens, valued at $42.9 billion.

Glassnode co-founders Jan Happel and Yann Allemann attribute Bitcoin's recent downturn to systematic mechanical selling by one constrained participant rather than broad market repricing. They cite unusual momentum patterns—including an all-time low 1-day MACD despite only a 33% price drop—as evidence of forced liquidation absent typical macro stress or leverage shocks. The analysts argue the selling exhibits characteristics of rules-based unwinding rather than organic sentiment deterioration.

Alt5 Sigma, a publicly traded participant in World Liberty Financial, faces potential regulatory investigation after disclosing its CEO's suspension to the SEC on October 16, despite internal emails indicating the action occurred on September 4. The six-week reporting gap may violate federal disclosure rules requiring Form 8-K submission within four business days of executive departures, according to securities law experts. The company's special board committee is investigating matters including a subsidiary's criminal liability in Rwanda for illicit enrichment and money laundering.