Bitcoin accounted for over $400 billion of the decline as BTC fell to the $61K level, while 24-hour liquidations topped $1.12 billion and heavily hit long positions.
More than $500 billion has been erased from the crypto market over the past 25 days, underscoring a sharp risk-off move across digital assets. Bitcoin drove most of the decline, losing more than $400 billion in market value as BTC fell to the $61K level. The selloff also triggered heavy forced unwinds in leveraged derivatives positions, with more than $1.12 billion liquidated in the past 24 hours. Longs, or bullish bets on rising prices, absorbed most of the damage at $949M, highlighting how quickly falling prices can cascade through crypto markets when leveraged traders are caught on the wrong side of the move.