$170B Crypto Bloodbath: Bitcoin, Ethereum, and XRP Lead Market Carnage

Digital assets get hammered in brutal selloff

The crypto market just took a sledgehammer to the face—bleeding out $170 billion in value as major coins led the plunge. Bitcoin got rocked. Ethereum got crushed. XRP got demolished. This wasn't a correction—it was a full-scale liquidation event.

Bitcoin's brutal beating

BTC spearheaded the decline, slicing through key support levels like a hot knife through butter. The flagship crypto's chart looks like a cliff dive—triggering margin calls and panic selling across exchanges.

Ethereum's ugly unraveling

ETH didn't just follow Bitcoin's lead—it amplified the pain. The smart contract platform got absolutely shredded, with DeFi protocols and NFT markets feeling the heat. Gas fees dropped, but only because nobody could afford to transact.

XRP's spectacular stumble

The 'regulated' token proved just as vulnerable as its decentralized counterparts. XRP's decline was particularly brutal—wiping out recent gains and leaving bagholders questioning their life choices.

Traditional finance guys are probably sipping champagne right now—watching crypto burn while their 2% bond yields suddenly look exciting again. But let's be real: they'd kill for this kind of volatility if they could actually stomach it.

The crypto sector has gone through a staggering loss over the past 24 hours. In this respect, a wipeout of up to $170B has taken place in the crypto industry, with the prominent targets being Bitcoin ($BTC), ethereum ($ETH), Ripple ($XRP), and Solana ($SOL).

JUST IN: $170,000,000,000 wiped out from the crypto market cap in the past 24 hours. pic.twitter.com/vsYtJKrcSk

As per the crypto data and analytics provider, Watcher Guru, this sudden shift has resulted from the widespread sell-offs as well as investor anxiety.  Hence, the ongoing crypto downturn has triggered speculation on the potential reversal or continuation of this correction.

Crypto Sector Incurs $170B Loss as Bitcoin and Ethereum Record 3.74% and 6.21% Dips

The market statistics reveal that the crypto industry has incurred a stunning $170B wipeout over twenty-four hours. The declining investor sentiment and the subsequent crypto sell-offs have played the role of chief factors leading to this wipeout. Particularly, the leading crypto asset, Bitcoin ($BTC) has witnessed a -3.74% drop in the meantime.

Apart from that, the top altcoin, Ethereum ($ETH) has also witnessed a noteworthy plunge. This has resulted in a loss of nearly -6.21% over the same period. The drop seems to be a significant bearish indicator, at least in the short term. Thus, this wave of uncertainty raises caution among the market particaipants.

Altcoin Landscape Extends Market Downturn with $XRP, $SOL, and $BNB Leading in Losses

Simultaneously, the other prominent names among in the altcoin sector take into account Ripple ($XRP), Solana ($SOL), and Binance Coin ($BNB). In this respect, $XRP recorded a -6.71% dip, while $SOL and $BNB accounted for -6.85 and -5.91% decrease. This shows a broader pullback, including Bitcoin, altcoins, and memecoins, appears unusual and massive, indicating considerable possibilities regarding a bearish continuation.

Additionally, Sui ($SUI), Cardano ($ADA) and chainlink ($LINK) have also seen noteworthy decreases amid this broader crypto downturn. Specifically, $SUI went through a -6.54% drop while $ADA and $LINK saw -6.11% and -6.55% slumps. Overall, while this crypto market recalibration raises concerns, it also provides a great opportunity for the long-term investors to buy the dip and prepare for a potential leg up.