The market has plunged deep into the red again. All assets from the top 10 have shown significant declines both for the day and the week. The collapse intensified amid liquidations of positions by traders with high leverage. In the past 24 hours, almost $900 million have been liquidated from the market, according to platform data.
Bitcoin continues to drag the market down with it. Its price dropped to $91,470. In one day, BTC lost 3%, and almost 13.7% over the week. Investors remain pessimistic: the coin fails to consolidate in the $95,000–$97,000 zone, and futures markets remain sluggish and volatile.
Ethereum also fell below $3,000. It is now trading at $2,960. The daily drop was 4.5%, and the weekly — 16.7%. This makes ETH one of the worst-performing assets of the week among the top 10.
Stablecoins USDT and USDC maintain their peg to the dollar, showing only minor fluctuations despite high market volatility.
XRP dropped to $2.1, a decrease of 4.3% for the day and 16.5% for the week. Attempts to break through the resistance zone at $2.30 failed again, and the surge in selling volume indicates institutional exits.
BNB also came under pressure. The token fell to $896, losing 2.7% for the day and 9.3% for the week, amid an outflow of liquidity from assets related to Binance.
See also: Aster confirms breakout from falling wedge, but the market is sending alarming signals
Solana rolled back to $129.7. The coin lost 5.5% for the day and 22.4% for the week. Despite the hype around a possible ETF, sellers clearly prevailed, causing a large-scale correction.
TRON proved to be the most resilient among major altcoins. Its price dropped only to $0.289. The decline was 0.8% for the day and 1.9% for the week.
Dogecoin is trading at $0.152. The token fell by 2.6% for the day and over 15% for the week. Speculators’ interest in the memecoin continues to fade.
Cardano dropped to $0.461. The daily decrease was 4.6%, and almost 22% for the week.
At the same time, Hyperliquid (HYPE) is holding up a bit better than most. The token is now trading at $37.58, having lost 1.1% for the day and 9.5% for the week.
The drop intensified due to massive liquidations
In the past 24 hours, margin calls were triggered for almost $900 million. Of this, $559 million were long positions and $337 million were short. In just the last hour, the market lost $196 million.
Liquidation volume in the past 24 hours. Source: Coinglass
A similar picture is observed in other timeframes: on the four- and twelve-hour intervals, bull position liquidations dominate. This indicates that the market was oversaturated with excessive leverage, and any downward movement instantly wipes out longs.
Against the backdrop of weak institutional demand and a general decline in liquidity, even moderate price fluctuations trigger a chain reaction on futures platforms. The market cannot find a local bottom: bitcoin is stuck below $95,000, ether is struggling to stay above $3,000, and volatility is likely to remain elevated in the coming days.
