The cryptocurrency market turned sharply lower on Friday, with over $635 million in liquidations hitting Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) hardest, as traders dumped long positions amid shifting macro sentiment.
Altcoins Slide as Fed Holds Rates Steady
The Federal Reserve’s decision to keep rates unchanged at 4.25%–4.50% for the fifth straight meeting sparked renewed uncertainty, leading to a wave of profit-taking and sharp declines across the crypto market.
Solana, Dogecoin, and Cardano saw the steepest losses among top-10 assets, each dropping around 7% in 24 hours. Despite the sell-off, all three tokens remain in profit on a 30-day basis, underscoring that the pullback is short-term volatility rather than a structural reversal.
$635 Million Liquidated, Mostly Longs
Data from CoinGlass shows $635 million in total crypto market liquidations over the past 24 hours — $577 million from long positions versus just $58 million in shorts.
Solana long liquidations: $34.86M
Cardano long liquidations: $5.74M
Dogecoin long liquidations: $18.37M
Short positions surged across the board, making up 51.96% of Solana futures, 52.48% of Cardano, and 51.88% of Dogecoin.
Investor Sentiment Cools, But Neutral Zone Holds
The Crypto Fear and Greed Index dropped from 62 to 57, reflecting shaken confidence. Still, sentiment remains near neutral, suggesting investors are cautious but not exiting the market entirely.
Analysts say profit-taking in Bitcoin (BTC), totaling over $6 billion in realized gains, plus the Fed’s pause on rate cuts amid tariff negotiations, contributed to the sell-off.
Solana, Dogecoin, and Cardano are leading the losses in today’s downturn, but with sentiment still neutral and long-term fundamentals intact, analysts view the move as a healthy reset before the next leg higher.
