Crypto Overview Today: Market Sees $562M Liquidations As Bitcoin Volatility Spikes
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Bitcoin fell below $85K, triggering a selloff across the crypto market, with Ethereum and Solana posting losses. The decline caused $562 million in derivatives liquidations, primarily from long positions. Despite the drop, Bitcoin's realized capitalization reached a record $1.125 trillion, indicating solid market fundamentals.
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- Bitcoin fell below $85K, triggering a crypto selloff with Ethereum and Solana posting losses.
- Bitcoin ETFs saw outflows while XRP and Solana ETFs recorded modest gains.
- Market fundamentals remain solid, with Bitcoin’s realized capitalization hitting a record $1.125 trillion.
Bitcoin dropped sharply on Thursday, falling below key support levels and pulling the wider crypto market down. After failing to hold above $89,500, it fell below $85,000, briefly hitting $84,500 — its lowest in almost three weeks.
Other cryptocurrencies also fell. Ethereum slipped under $2,800, Solana dropped 4% to multi-month lows, and several major altcoins lost more than 5%. The sudden selloff caused heavy derivatives liquidations, wiping out nearly $562 million, mostly from long positions.
The market is now recovering slightly. Bitcoin is up 0.7% at $87,071 but is still down 5.8% fo…
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