Crypto Bloodbath: Bitcoin and Altcoins Slide Amid Market-Wide Meltdown

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CoinGape Newsletter
November 04, 2025

Strategy (formerly MicroStrategy), the largest corporate Bitcoin treasury, has announced an offering for its perpetual STRE preferred stock. This will be the first-ever Euro-dominated preferred stock offering for European and global institutional investors.

Today’s crypto market crash saw the global market cap tumble back to a 5-month low at $3.45 trillion. Bitcoin and Ethereum prices are now down 18% and 27% in a month, while investors haven’t even recovered from the bloodbath last month.

The XRP price has entered a crucial technical zone as bearish patterns begin to dominate its short-term outlook. The 50-day and 200-day moving averages are on the verge of forming a death cross — a signal often associated with extended market downturns. This technical setup has emerged alongside aggressive whale selling, raising concerns about sustained downward pressure. While minor recoveries remain possible, the broader bias leans toward further weakness in the coming sessions.

Crypto coins have been experiencing a notable surge, with Zcash, ICP, and DASH seeing significant gains. Zcash has climbed by 20% over the past 24 hours, while ICP saw a 35% rise. DASH has performed exceptionally, increasing by 60% in a single day and by an extraordinary 170% over the last week. These cryptocurrencies are trending, which provides an optimistic outlook in an otherwise deteriorating market.