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Bitcoin Setback: Altcoins in Panic – What’s Next?
Bitcoin (BTC) falls below USD 113,000. Analysis on market pressure, altcoin losses and liquidations on October 14, 2025.
Bitcoin Setback: Altcoins in Panic – What’s Next?
On October 14, 2025, the cryptocurrency market is facing another period of volatility as the price of Bitcoin (BTC) fell below $113,000. This marks a 4% loss compared to Sunday's gains. The selling pressure triggered by the drop in Bitcoin price has also affected numerous leading altcoins. Ethereum (ETH), Ripple (XRP) and Solana (SOL) are recording losses of over 3%.
The situation is exacerbated by current conditions in the derivatives market, where open interest is low and rising liquidations are pushing capital out of the market. Bitcoin has shown a bearish reversal from the 50-day Exponential Moving Average (EMA) at $115,508 and is now reaching the $112,500 level. This level undermines the support provided by the 100-day EMA at $113,501.
Technical indicators show selling pressure
Daily chart analysis shows increasing selling pressure. The Relative Strength Index (RSI) has fallen to 44 while the Moving Average Convergence Divergence (MACD) is approaching the zero line after a bearish crossover point. For Bitcoin, immediate support levels lie at $109,561 (Sunday low), $108,027 (200-day EMA), and $107,429 (July 8 low).
A rise in BTC above $115,508 could indicate a potential rally towards $120,000. However, this remains questionable as altcoins are suffering from the pressure of the Bitcoin price.
Liquidations in the last 24 hours
Fear among investors leads to panic selling. According to CoinGlass data, $276.90 million in liquidated long positions and $190.23 million in short positions were recorded in the last 24 hours, for a total of $467.13 million in liquidations.
The broader cryptocurrency market's open interest is currently $163.59 billion, down 0.72% in the last 24 hours. Meanwhile, Bitcoin futures open interest has fallen by over 1.50% and stands at $73.68 billion. This drop in open interest suggests an outflow of capital as traders take a wait-and-see stance, driven by risk-off sentiment.
The increasing liquidations and negative market sentiment could lead to further pressure on altcoins, increasing uncertainty across the crypto space.