The total cryptocurrency market cap has plunged by more than 8 percent in the past 24 hours, settling around $2.09 trillion as of Friday morning in Europe. Over the last four weeks, the market has shed approximately $600 billion in value, primarily driven by Bitcoin’s (BTC) downturn.
As per the latest market data, Bitcoin’s price has plummeted nearly 9 percent in the last 24 hours, trading around $54,000. This ongoing sell-off has resulted in the liquidation of nearly $700 million from crypto derivatives trading, with the majority of losses incurred by long traders.
On-chain data from PeckShield reveals that a whale was liquidated for about 173,230 Ether, worth approximately $10.7 million.
Several other crypto whales have faced liquidations following Bitcoin’s sudden drop. These forced sales have increased the market decline, causing widespread concern among investors.
The recent crypto crash can be attributed to multiple negative events:
The cryptocurrency market has been stuck in a bearish trend over the past month, and this trend seems likely to persist. However, some analysts are drawing parallels between the current cycle and the 2017 bull run, which saw several corrections ranging from 25 to 40 percent.
Despite the prevailing bearish sentiment, market analysis firm Santiment suggests that bold traders could capitalize on the current atmosphere of crowd anger and frustration. While caution is advised, there may be significant opportunities for those willing to navigate the turbulent market conditions.
Read More About This: Mt. Gox Moves 47,229 Bitcoin: Will the Crypto Market Face a Massive Sell-Off?
The crypto market is in flux – what are your predictions for the coming weeks? Let’s discuss!
Solana (SOL) price has signaled a possible further correction after being rejected above $160 earlier…
The altcoin market has followed Bitcoin (BTC) in midterm weakness, amid historical demand from institutional…
Pepe's Resilient Rebound Over recent days, Pepe Coin (PEPE) has captured renewed attention from traders…
On June 25th, 2025, the Better Business Bureau (BBB) issued an urgent alert about a…
Elon Musk’s AI startup xAI has raised a massive $10 billion in new funding, giving…
With Ethereum (ETH) heating up again in early summer activity, large-cap investors are doubling down…