While Bitcoin (BTC) bore the brunt of the sell-off in absolute terms, altcoins led the broader wipeout.
BTC briefly dipped to $95,700 on Sunday after narrowly missing the much-anticipated $100,000 mark on Friday.
Liquidations tied to Bitcoin alone totaled $80.9 million, with $56.6 million from long positions and $24.3 million from shorts.
Altcoins liquidations. Credit: CoinGlass
Altcoins, like Ethereum (ETH), on the other hand, recorded $44.8 million in liquidations, with $11.8 million from short positions.
Solana (SOL) saw $16.8 million liquidated, and Dogecoin (DOGE) traders faced $33.1 million in losses.
Ripple (XRP) wasn’t spared either, with $32.2 million in liquidations, including $10.5 million from shorts.
Ethereum recorded $44.8 million in liquidations, mainly from $11.8 million in short positions. Solana (SOL) had $16.8 million in liquidations.
Bitcoin Retraces To $95,000
It wasn’t long until Bitcoin climbed back to $98,310.
Still, market sentiment remains cautiously optimistic as Bitcoin continues to dominate the cryptocurrency market, accounting for 56% of its $1.94 trillion valuation.
Bitcoin drops to $95,000. Credit: CoinMarketCap
While some traders view the retracement as a healthy correction, others warn that macroeconomic uncertainties could fuel more turbulence ahead.
For now, market observers will closely monitor Bitcoin’s trajectory as it inches back toward the six-figure milestone while altcoins attempt to recover from the broader liquidation cascade.
Giuseppe Ciccomascolo began his career as an investigative journalist in Italy, where he contributed to both local and national newspapers, focusing on various financial sectors.
Upon relocating to London, he worked as an analyst for Fitch's CapitalStructure and later as a Senior Reporter for Alliance News. In 2017, Giuseppe transitioned to covering cryptocurrency-related news, producing documentaries and articles on Bitcoin and other emerging digital currencies. He also played a pivotal role in establishing the academy for a cryptocurrency exchange website. Crypto remained his primary area of interest throughout his tenure as a writer for ThirdFloor.
