The crypto market remains under heavy pressure as selling accelerates across both majors and altcoins, extending the recent downturn and keeping sentiment firmly in risk-off mode.
Key Takeaways
Bitcoin and major altcoins continue to trend lower, keeping market sentiment under pressure.
Solana is the biggest loser over the past 24 hours as altcoin weakness deepens.
Liquidations jumped to nearly $880 million, amplifying losses across the market.
Bitcoin continued its slide, trading near $72,500 after another weak session. The world’s largest cryptocurrency is now down sharply on the week, with buyers struggling to step in as volatility stays elevated and liquidation pressure builds across derivatives markets. This is the lowest level BTC has hit since 2024.
Altcoins are following the move lower, with losses broad-based across the top of the market. Solana stands out as the biggest underperformer over the past 24 hours, dropping close to double digits as risk appetite fades.
Ethereum, BNB, XRP and Dogecoin have also posted notable daily declines, reinforcing the defensive tone.
The selloff triggered a fresh wave of forced liquidations. According to market data, total crypto liquidations surged to nearly $880 million over the past 24 hours, with long positions accounting for the vast majority.
The imbalance highlights how crowded bullish positioning had become before prices rolled over. Additionally the crypto market cap dropped 3.88% to $2.47 trillion
The drawdown is also weighing on large institutional holders. Michael Saylor’s firm, Strategy, is now sitting on an unrealized loss of roughly $2.1 billion on its Bitcoin holdings as prices trade well below the company’s average purchase levels.
While Strategy maintains a long-term view, the current market environment underscores how quickly paper losses can expand during sharp corrections.
With macro uncertainty still high and leverage being flushed out, traders are bracing for continued volatility. Until liquidation activity cools and spot demand stabilizes, the crypto market remains vulnerable to further downside.
