🚨 Crypto Bloodbath: BTC Crashes to $91K, ETH Plunges Below $2.9K, Altcoins Get Obliterated

Digital asset markets got steamrolled today as Bitcoin and Ethereum led a brutal selloff—dragging altcoins into the abyss. Here's the damage.

Bitcoin's brutal reckoning: The king of crypto got dethroned—briefly—as panic selling sliced through $91K support. Traders are now questioning whether this is a healthy correction or the start of something uglier.

Ethereum's ugly stumble: ETH got caught in the downdraft, collapsing below $2.9K as DeFi yields evaporated faster than a meme coin's liquidity. Smart money's waiting to see if the Merge's ghost is haunting the charts.

Altcoin annihilation: The usual suspects—SOL, ADA, XRP—got decimated in a classic 'risk-off' tantrum. Even stablecoins briefly wobbled, because nothing says 'healthy market' like Tether playing limbo with its peg.

Silver lining? This flush clears out leverage—just in time for Wall Street's 'crypto experts' to blame retail traders for over-speculating. Again.

Large-cap altcoins followed the same path:

• XRP fell to $2.10, down 4.3% daily and 16.5% weekly, with $2.30 acting as a stubborn ceiling amid heavy institutional distribution.
• BNB dropped to $896, losing 2.7% in 24 hours and 9.3% this week, extending a liquidity shift away from Binance-affiliated assets.
• Solana plunged to $129.7, posting a 5.5% daily and 22.4% weekly decline, despite strong ETF buzz surrounding the ecosystem.
• TRON remained the most stable of the majors at $0.289, showing only minimal losses.
• Dogecoin slipped to $0.152, down 15.4% this week, while Cardano tumbled to $0.461, shedding 21.8%, signaling deep capitulation among ADA holders.

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Leverage Flush Accelerates the Crash

The downturn was intensified by cascading liquidations throughout the derivatives market:

• 1h: $196.41M (Longs: $192M)
• 4h: $343.46M (Longs: $325M)
• 12h: $681.99M (Longs: $436M / Shorts: $245.73M)
• 24h: $897.19M (Longs: $559M / Shorts: $337.3M)

The overwhelming impact on longs shows how overheated bullish positioning left traders exposed. With liquidity thinning, each downward move is triggering even larger forced unwinds, magnifying price swings across every major asset.

With Bitcoin unable to reclaim $95K and ethereum fighting to stay above $3,000, the market is heading into the week with heightened volatility and shaky sentiment. Until leverage resets fully and buyers return with conviction, traders should expect the turbulence to continue.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.

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