Bitcoin's price dropped below $108,000 on October 30, 2025, hitting an intraday low of $107,387. The decline was spurred by a hawkish statement from Fed Chair Jerome Powell, which raised doubts about a potential rate cut in December. This uncertainty led to the liquidation of over $1.13 billion in crypto positions within 24 hours, with Bitcoin longs accounting for more than $400 million of the total. As Bitcoin and other risk assets faced selling pressure, gold prices rose nearly 2%, reflecting a shift towards safer investments amid the market volatility.