$900M crypto liquidation wave rocks crypto traders, with ETH biggest hit

The crypto market crash continues as Bitcoin drops back to the $109K level as bears take ￰0￱ cumulative digital market cap declined by 2% in the last 24 hours to stand at around $3.8 ￰1￱ brutal reset left more than 200,000 traders bleeding with over $900 million in leveraged bets ￰2￱ took the heaviest blow after weeks of outperforming ￰3￱ dropped back toward $4,400, erasing much of its Jackson Hole-fueled ￰4￱ data shows that the biggest altcoin saw around $320 million worth of long and short bets liquidated. However, Ether is still up by 80% over the last 60 days, while BTC managed to grow by just 3%. Altcoin hype fades as ETH retreats from $5K The ongoing turbulence left traders guessing as crypto liquidations inched towards the $1 billion ￰5￱ than $758 million (86%) turned out to be long ￰6￱ suggests that traders were expecting a rebound rally after the recent drop.

Meanwhile, the digital assets market printed red indexes all the way ￰7￱ Fear and Greed index remained in the “Neutral” zone but is tilting close to the fear ￰8￱ liquidation data.) and Bonk prices fell by almost 4%. PENGU and BONK have already been running down by 30% and 42%, respectively, over the past 30 ￰9￱ data shows that Solana’s total value locked (TVL) slipped by 6% in a day to stand at $10.66 ￰10￱ sprinted toward $5,000 last week, lifting the sentiments of altcoin season among investors. Meanwhile, enthusiasm seems to be fading now as the crypto market mirrors a dip in the S&P 500, as macro continues to dictate the ￰11￱ is trading at an average price of $4,415 at the press ￰12￱ shows that Ether’s TVL is down by 3.63% over the last day to stand at $92.02 ￰13￱ momentum fades As per a Glassnode report, Bitcoin spot market momentum weakened as the RSI slipped toward oversold conditions over the past ￰14￱ OI shrank 2.6% to $45.9 billion as leverage unwound, while options skew spiked to 8.2%.

This signals rising demand for downside hedges as ETF flows also went on to hit $1 billion ￰15￱ added that on-chain indicators reflect softer demand as active addresses fell 2% to ￰16￱ are down by 17% which hints at less blockspace ￰17￱ price is down by 5% over the past 7 ￰18￱ is trading at an average price of $109,728 at the press ￰19￱ Difference Wire helps crypto brands break through and dominate headlines fast