The crypto market just faced a brutal shakeout! Over $600–$800 million worth of leveraged long positions were liquidated within 24 hours, sending shockwaves across Bitcoin, Ethereum, and top altcoins.
According to Coinglass data, Bitcoin dropped below $107,000, while Ethereum slipped toward the $2,450 zone. Altcoins like Solana, Chainlink, and Avalanche also suffered heavy corrections, wiping out recent gains.
🔍 What Happened?
Analysts point to a mix of factors fueling this sudden downturn:
Overleveraged longs built up during the recent bullish run.
Whale movements and stop-loss triggers cascading across exchanges.
Weak macro sentiment, as global risk markets cool ahead of key inflation data.
Once BTC slipped below the critical support level, an automated liquidation cascade began, forcing traders out of positions and amplifying the drop.
💬 Market Reactions
Many traders are calling it a “healthy correction,” arguing that the market needed to flush out excessive leverage before any sustainable rally can continue. Others warn that if Bitcoin fails to reclaim $110,000 soon, the next leg down could test $102,000 support.
💡 Expert Take
Despite the volatility, institutional inflows into spot Bitcoin ETFs remain strong, suggesting that long-term conviction is intact. This could be a temporary shakeout before a bigger recovery phase.
📊 The Bottom Line
The crypto market’s latest drop is a reminder that leverage cuts both ways. Whether you’re a trader or an investor, smart risk management and patience remain your best tools in volatile times.
