Bitcoin Slips Below $100K Again as Liquidations Hit $1B. Retail Panic Spikes
Bitcoin has broken below the $100,000 level for the second time this month, igniting another round of fear, doubt, and outright chaos across the market. The drop pushes BTC into a fresh zone of retail panic, a pattern that historically sets the stage for opportunistic buying as weak hands exit the market…
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Bitcoin has broken below the $100,000 level for the second time this month, igniting another round of fear, doubt, and outright chaos across the market. The drop pushes BTC into a fresh zone of retail panic, a pattern that historically sets the stage for opportunistic buying as weak hands exit the market… Read More
The malfunction allowed 32 wallets to claim 623M PYBOBO within 4 seconds. The event emptied nearly all the 625M reward pool almost instantly. The glitch coincides with OKB’s price underperformance. The virtual currency sector recorded another sell-off on Friday as Bitcoin lost 10% in the past 24 hours to press time’s $81,865. The global crypto
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The malfunction allowed 32 wallets to claim 623M PYBOBO within 4 seconds.
The event emptied nearly all the 625M reward pool almost instantly.
The glitch coincides with OKB’s price underperformance.
The virtual currency sector recorded another sell-off on Friday as Bitcoin lost 10% in the past 24 hours to press time’s $81,865.
The global crypto market cap stands at $2.81 trillion after a 10% decline over the last day.
Amidst the broader bloodbath, OKX’s native token suffered the most as the downside coincided with OKX facing new scrutiny after an unexpected contract glitch in its recent Boost reward campaign.
A planned distribution of PYBOBO coins ended up with nearly all the pool drained within four minutes, and it wasn’t the massive demand as earlier thought.
🚨UPDATE: OKX’s PYBOBO Reward Pool drained in seconds.
Users report massive claims cleared almost instantly, showing the insane demand and liquidity frenzy. pic.twitter.com/mER1GrLeRJ
— The Crypto Times (@CryptoTimes_io) November 21, 2025
OKX’s token underperformed the overall cryptocurrency market in the past 24 hours.
It dipped from $115 to $94 during this writing, and over 18% dip on its daily price chart.
OKB experienced intensified selling pressure as the news of contract malfunctioning spread.
A 4-second glitch empties 99.68% of incentives
On-chain stats show that 32 addresses claimed 623 million PYBOBO coins, wiping nearly all the 625 million allocated for the distribution event.
The most striking thing is that the entire sweep took only four seconds, catching the team and participants unaware.
Notably, a multifunction within the OKX Boost claim contract seems to have permitted abnormal, rapid claims, allowing a few addresses to receive far more PYBOBO tokens than initially planned.
OKLink identified a particular wallet that claimed 37.847 million tokens, worth roughly $18,600.
Nevertheless, what’s striking is how fast the pool evaporated, with 99.68% of rewards gone by the time the ream noticed the glitch.
The event’s nature indicates an unintended move that propelled distributions well beyond their specified limits.
OKX Wallets halts claiming amid investigations
The team acknowledged the issue immediately after the reports emerged and confirmed delaying PYBOBO claiming until after resolving the contract issuer.
Claiming for PYBOBO rewards will be postponed.
We’ll provide updates here once the issue has been resolved.
— OKX Wallet (@wallet) November 21, 2025
The temporary pause aims to prevent further potential damage as the project conducts a review.
The team has promised to publish more updates as they investigate the matter.
The incident sent ripples across the OKX ecosystem. OKB testified to that with its overwhelming selling pressure.
OKB price outlook
OKX’s token hit a daily low of $94 after losing the $100 psychological mark.
Binance ecosystem’s native coin BNB, is amongthe top losers in the crypto market today. The altcoin has seen bears push prices to near $800. As altcoins mirror Bitcoin, the BNB price could plummet well below the intraday lows. BNB is under pressure as a broader market downturn puts the token near the $800 support level.
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Binance ecosystem’s native coin BNB, is amongthe top losers in the crypto market today.
The altcoin has seen bears push prices to near $800.
As altcoins mirror Bitcoin, the BNB price could plummet well below the intraday lows.
BNB is under pressure as a broader market downturn puts the token near the $800 support level.
With market turmoil likely to trigger further losses amid profit taking and heightened risk aversion, the BNB price could risk extending the dip across the past month beyond -24%.
Meanwhile, the total crypto market capitalization is down by 9% to below $2.9 trillion.
The global daily volume is up 43% to over $256 billion as Ethereum, Solana and other tokens plummet.
Another leg down could be bad news for BNB.
BNB price performance today
BNB’s intraday volatility has been stark.
After the token opened at around $866, bulls briefly managed a retest of $904.
However, intensified selling across the market triggered fresh selling to extend losses seen on Thursday.
The nearly 10% dip saw BNB price hover to lows of $805.
Meanwhile, daily trading volume surged 49% to over $4.39 billion, a metric that signalled increased selling pressure.
This breaching of crucial support levels adds to the vulnerability that has built since the token’s plunge below the psychological $1,000 mark.
In the past 24 hours, crypto traders have witnessed a brutal liquidation cascade.
Over $2 billion in leveraged positions have been wiped out, and while Bitcoin and Ethereum lead, a notable portion is across BNB bets.
Data from Coinglass reveals $8.3 million in liquidations for BNB.
BNB price falls after ecosystem hack
On Nov. 20, the BNB Chain ecosystem suffered a setback.
Per blockchain security platforms, the Binance platform saw the decentralized payment finance protocol GANA Payment fall victim to a sophisticated exploit.
The result – a $3.1 million drain from its contracts and liquidity pools.
The BNB token fell amid crypto market reaction to the news.
Further weakness linked to macroeconomic fears combined with a technical breakdown to extinguish the bulls’ glimmer of hope.
The bounce to $903 suggests not all is bleak, but to lift the lid of gloom, buyers have to take control.
Binance coin price outlook
Given Relative Strength Index is at 27 on the daily chart, it signals oversold conditions.
However, the downsloping outlook of the RSI indicates there’s room for bears to dominate further.
The Moving Average Convergence Divergence, or MACD, also paints a bearish picture.
BNB price chart by TradingView
As with the RSI, momentum from the MACD signals bull exhaustion after the bearish
