Massive Liquidations: Nearly $1 Billion in 24 Hours
Derivatives markets saw a cascade of liquidations totaling $949 million, according to CoinGlass data—$849 million of which were long positions. The hardest-hit assets included Ethereum ($369 million in liquidations), Bitcoin ($242 million), and major altcoins. Overall crypto market capitalization slumped 4.4% to $3.25 trillion (CoinGecko), echoing the shock events of the spring.
Top Losers: Ethereum Down 10%, XRP and DOGE Hit Lows
Ethereum bore the brunt of the losses, collapsing more than 10% in a single day to $2,171—a new low for the past two months. XRP fell to $1.95, Solana to $127, and Dogecoin traded at $0.147, all at their lowest levels since early May. Bitcoin also posted sharp losses, down over 3% daily and setting a new May low at $99,843.
Bearish Sentiment: Traders Flee Risk
Sentiment has turned decisively bearish on decentralized platforms like Myriad. Whereas Friday’s bets saw most traders expecting BTC to rise to $115,000, the odds of a drop below $95,000 have surged to 65% after the weekend’s events. Investors are moving to cash or scrambling to limit losses.
Panic and Risk Management: Caution Urged
With market conditions extremely volatile, traders are advised to keep risk in check and maintain high liquidity. The majority of liquidations have come from over-leveraged longs, underscoring the dangers of excessive risk-taking amid cascading sell-offs. Volatility remains elevated as any headline from the conflict zone could spark further waves of panic selling or, if tensions ease, sharp rebounds.