Crypto Market Crash: Over $100B Wiped Out as Bitcoin, ETH, XRP Tumble

The cryptocurrency market experienced a severe crash, with over $100 billion in market capitalization wiped out within hours. Over the past 24 hours, more than $720 million in liquidations occurred across major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), Hyperliquid (HYPE), Dogecoin (DOGE), and others.

Bitcoin price tumbled below the key 200-week moving average at $62,000, reaching an intraday low of $61,893. Ethereum fell 5% to below $1,650, while XRP dropped over 3% to $1.10. The Crypto Market Fear & Greed Index sank to 23, indicating extreme fear among investors.

The crash was triggered by a global tech rout, with South Korea’s KOSPI index falling nearly 10% — its third-largest crash in history — and the Nasdaq 100 declining over 2.60% in premarket trading. Additionally, President Trump signed executive orders on quantum computing, which the White House stated would ensure national security and continued American leadership. However, this added pressure on the crypto market as blockchains face a deadline to upgrade to quantum-resistant cryptography by 2030–2031 to avoid potential risks to assets like Bitcoin.

Nearly 145,000 traders were liquidated, with the largest single liquidation order of ETHUSD valued at $15.34 million occurring on Hyperliquid. Long positions accounted for $610 million of the total liquidations, while shorts saw $110 million. Analysts warned of potential further downside, with Bitcoin needing to hold the $61,000–$62,000 support zone to prevent deeper losses.

The US 10-year Treasury yield climbed to 4.5%, and the US dollar index rose to its highest level since May 2025, as investors monitored US-Iran peace talks and potential Federal Reserve rate hikes. Spot Bitcoin and Ethereum ETFs recorded outflows, with BlackRock’s IBIT seeing $170 million in redemptions. On-chain data indicated rising liquidation risk for short-term holders, with analysts noting capitulation among weak hands while strong hands remained unfazed.

Source: https://coingape.com/crypto-market-crash-over-100b-liquidated-in-bitcoin-eth-xrp-hype-doge-spcx/