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âCrypto Market Crashes Amid Stock Market Drops, $1.48B Liquidatedâ
The markets are crashing, with both crypto and stocks taking big losses. In the last 24 hours, the crypto market, which was $3.12 trillion earlier, has dropped nearly 7%, with the current valuation of $2.9 trillion, causing panic selling. At the same time, stock markets in the US, India, and Asia are also struggling due to concerns over US trade policies and global economic instability.
From November 2024, when Trump was elected as the next U.S. President, there was a bull run seen in the crypto community, and the crypto market has been up since then with an increasing market cap. But there was a sudden downfall in January when the crypto crash happened and seemed to be the end of the bull run. The market cap has seen a continuous drop since January and it still continues.
The crypto market has been wrecked, with $1.48 billion wiped out in just 24 hours. Around 386,737 traders saw their positions erased, with Bitcoin (BTC) alone losing $638.34 million. Most of this, $606.31 million, came from traders who expected prices to go up but were forced to sell at a loss.
Ethereum (ETH) took a major hit, with $301.73 million in liquidations. Out of this, $276.65 million came from long positions traders who expected prices to rise but were forced to sell at a loss.
Solana (SOL) also faced heavy liquidations, with $110.09 million wiped out, while XRP saw $57.94 million in liquidations, mostly from long positions. The biggest single liquidation happened on Binance, where a BTCUSDT trade worth $20.80 million was completely erased.
With almost all major cryptocurrencies deep in the red, investor sentiment is shaky, and many are unsure whether the market has hit bottom or if more pain is ahead.
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