The crypto market extended its deep slide today, with every heavyweight in the Top 10 flashing red as another wave of liquidations swept through leveraged traders.
More than $890 million in positions were wiped out over the past 24 hours, adding fresh momentum to a sell-off already fueled by weakening macro sentiment and tightening liquidity across exchanges.
Bitcoin continues to dictate the market’s direction, sinking to $91,500 after failing multiple attempts to regain the critical $95,000 band. The move pushed BTC down 3% on the day and 13.64% on the week, keeping futures markets fragile and reactive as open interest drops to multi-week lows.
Ethereum didn’t fare any better. ETH slid to $2,960, erasing 4.5% today and 16.7% this week, one of the heaviest declines in the Top 10. Persistent ETF outflows and renewed selling from long-standing holders continue to pressure the asset, overshadowing earlier optimism around network strength and staking demand.
Large-cap altcoins followed the same path:
- XRP fell to $2.10, down 4.3% daily and 16.5% weekly,https://darkdotweb.com/category/crypto-currencies/ with $2.30 acting as a stubborn ceiling amid heavy institutional distribution.
- BNB dropped to $896, losing 2.7% in 24 hours and 9.3% this week, extending a liquidity shift away from Binance-affiliated assets.
- Solana plunged to $129.7, posting a 5.5% daily and 22.4% weekly decline, despite strong ETF buzz surrounding the ecosystem.
- TRON remained the most stable of the majors at $0.289, showing only minimal losses.
- Dogecoin slipped to $0.152, down 15.4% this week, while Cardano tumbled to $0.461, shedding 21.8%, signaling deep capitulation among ADA holders.
Leverage Flush Accelerates the Crash
The downturn was intensified by cascading liquidations throughout the derivatives market:
- 1h: $196.41M (Longs: $192M)
- 4h: $343.46M (Longs: $325M)
- 12h: $681.99M (Longs: $436M / Shorts: $245.73M)
- 24h: $897.19M (Longs: $559M / Shorts: $337.3M)
The overwhelming impact on longs shows how overheated bullish positioning left traders exposed. With liquidity thinning, each downward move is triggering even larger forced unwinds, magnifying price swings across every major asset.
With Bitcoin unable to reclaim $95K and Ethereum fighting to stay above $3,000, the market is heading into the week with heightened volatility and shaky sentiment. Until leverage resets fully and buyers return with conviction, traders should expect the turbulence to continue.
