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Crypto market in free fall: over $800 million liquidated!
The crypto market suffers massive liquidations over $800 million, leading to a significant drop in the price of Bitcoin and Ethereum.
Crypto market in free fall: over $800 million liquidated!
The crypto market is facing a massive setback as liquidations reached over $800 million in the last 24 hours. The pressure on the market is particularly increased by a significant price decline for Bitcoin, Ethereum and Dogecoin. Loud IT Boltwise Bitcoin fell to almost $104,000 after previously hitting an all-time high of just under $112,000. At the same time, Dogecoin fell below $0.20 per coin, which is its lowest level since May 8th.
Overall, the value of the crypto market decreased by 4.3% in a single day. The liquidations were spread across various cryptocurrencies, with Bitcoin and Ethereum being the most affected. Bitcoin recorded liquidations of $222 million, while Ethereum also lost significantly at almost $122 million.
Price movements and market correlations
The current market situation is also compounded by general market uncertainty driven by a disappointing GDP report and concerns over global trade tariffs. During the same period, analysts reported that Bitcoin fell over 3% on the day and 12% in the last week. The decline since the peak of over $108,000 is even 23%.
Ethereum experienced a similar decline, falling to $2,275, down 53% from its all-time high. Other cryptocurrencies such as Solana, XRP and Dogecoin also showed consistently negative developments. The overall crypto market valuation fell by around 4%, indicating tense market sentiment.
Outlook and market conditions
Analyst Valentin Fournier expressed concerns about near-term weakness in Bitcoin, with a possible move lower to $100,000 followed by a future rebound to $130,000-$150,000. These uncertainties are also influenced by technical and regulatory factors, according to News Crypto could represent a turning point.
Recent developments in particular, such as the hack on the crypto exchange Bybit, in which $1.4 billion was stolen, have further contributed to the instability of the market. However, despite the challenges, digital activity remains strong, and industry experts agree that future stability depends heavily on regulatory developments and the reactions of large investors.
In the current market situation, investors must prepare for harsh conditions, with both challenges and opportunities for future investments in the crypto sector.