Tether CEO Paolo Ardoino has dubbed today’s dramatic market drop “Crypto Black Friday” as Bitcoin fell to $86,590, Ethereum dropped to $2,819, and XRP declined to $1.99. The total crypto market cap plunged below $3 trillion in a widespread selloff that liquidated 215,000 traders and wiped out $820 million.
Bitcoin black friday
— Paolo Ardoino 🤖 (@paoloardoino) November 14, 2025
While the term sounds alarming, experienced investors recognize these moments as potential buying opportunities. Major cryptocurrencies are now trading at significant discounts, with ETH down 2.24% and XRP falling 2.37% alongside Bitcoin’s decline.
For young traders, this market-wide sale demonstrates why crypto requires a long-term perspective. Historically, coordinated selloffs like this have consistently preceded Bitcoin’s strongest rallies, making today’s discounted prices potentially valuable for those who can see beyond short-term fear.