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- Shrishesh Tanksalkar
Shrishesh Tanksalkar
- Jun 12, 2025 07:35 UTC
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Why Crypto Market Is Down Today?
Global crypto market sheds 1.68%, with traders reacting to macroeconomic and political events
Over $327M in liquidations in 24 hours as volatility spikes across major tokens
Bitcoin and Ethereum lead the downturn, altcoins see heavier losses
The global cryptocurrency market witnessed a broad downturn today, with total market capitalization falling by 1.68% to $3.39 trillion. Daily trading volume also dipped 5.27% to $133.81 billion, signaling cautious investor sentiment. The Fear & Greed Index currently sits at 61, still in the “Greed” zone, though edging downward as uncertainty clouds the outlook.
The decline follows a sequence of macroeconomic and political events that have rattled both crypto and traditional markets. Talking about Wall Street, the S&P 500 is down 0.27% at 6,022.24, DJT fell 1.87% to 20.52, NASDAQ dropped 0.50% to 19,615.88, and the Dow Jones slipped marginally by 0.0026% to 42,865.77.
Liquidations Surge as Traders Get Caught Off Guard?
As price action turned against the bulls, liquidations began to mount. In the past 24 hours, 112,143 traders were liquidated, amounting to a total of $327.94 million wiped out across exchanges. The single-largest liquidation occurred on Binance’s BTCUSD perpetual pair, totaling $2.15 million.
The scale of the liquidations suggests that many traders were caught off guard by the rapid reversal in sentiment, especially those betting on a bullish continuation after the CPI dip. With leveraged positions wiped out across both long and short sides, volatility is expected to be present in the short term.
BTC & ETH in Red, Altcoins Hit Harder?
Bitcoin price is down 1.68% in the last 24 hours, now trading at $107,740.76. Its market cap stands at $2.14 trillion, with $53.99 billion in daily trading volume. Ethereum followed suit, dipping 1.11% to $2,760.10. Among the top altcoins, XRP dropped 1.87%, while Solana took a heavier bash with a 3.97% decline.
Top Gainers
- SPX6900: $1.68 (+6.63%)
- KAIA: $0.1695 (+3.14%)
- AB: $0.01167 (+2.64%)
Top Losers
- CRV: $0.6394 (-9.98%)
- JUP: $0.4553 (-9.39%)
- RAY: $2.26 (-9.38%)
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FAQs
Bitcoin fell 1.68% to around $107,740, while Ethereum dipped 1.11% to about $2,760
The sudden market reversal caught many leveraged traders off guard, resulting in over 112,000 liquidations and $327.94 million lost across exchanges.
The S&P 500 is a stock market index tracking the performance of 500 of the largest publicly traded U.S. companies. It’s widely considered a benchmark for overall U.S. stock market health.
DJT fell 1.87% and is trading at 20.52 amid broader market declines.
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