- Crypto Market in Turmoil: Bitcoin has plunged under $94,000, while altcoins like SOL, ADA, LINK, and AVAX are deep in the red, some losing over 40% from recent highs.
- Mass Liquidations Hit Traders: Over 140,000 traders wiped out, with $330 million in liquidations in just 24 hours, including a $7.58M single liquidation on Binance.
- Bitcoin’s Next Move is Critical: If BTC fails to reclaim $94,000, further downside is likely, making the next few days crucial for the market’s direction.
The cryptocurrency market is in absolute freefall, with countless altcoins experiencing gut-wrenching price drops over the past day. The bleeding hasn’t stopped, and for many, the pain just keeps piling on.
Bitcoin Stumbles—Altcoins Crumble
Bitcoin? Not exactly faring much better. Sure, its dominance is climbing, but that’s little comfort when the price just plunged to a two-week low, slipping under $94,000 just minutes ago. Brutal.
Market Overview (Source: QuantifyCrypto)
One of the biggest disappointments? Solana (SOL). The asset—once a market darling—has been getting hammered. Over the past 24 hours, it’s down 8%. Expand that view to a weekly scale? The losses balloon past 18%. And compared to its January high? SOL has lost a staggering 40% of its value. Now, it’s staring at sub-$170 levels, territory it hasn’t seen since early November.
And it’s not just SOL taking a beating. Cardano’s ADA has plunged over 6%, now struggling below $0.75. Chainlink (LINK) and Avalanche (AVAX)? Deep in the red as well—each shedding around 8% of their value. As of now, LINK is wobbling near $17.5, while AVAX fights to stay above $23.2.
Even XRP, which stole the show last week with an explosive rally, has joined the downtrend. It’s now lost 5% in a single day, dipping to just over $2.5. Ethereum (ETH)? Also rejected at $2,800 earlier this week and now desperately clinging to the $2,600 zone.
One Bright Spot? Litecoin
Not everything is gloom and doom, though. Litecoin (LTC) is defying the odds, up 3% on the day and now sitting comfortably at $125. It’s one of the rare larger-cap altcoins managing to swim against the tide.
Bitcoin’s Brutal Dip—What’s Next?
Bitcoin’s price action has been far from inspiring. The largest cryptocurrency was slapped down just ahead of $97,000 earlier today, only to get dumped back under $94,000. That’s the lowest price since early February—when it suffered a flash crash below $92,000.
And the pain isn’t just visible on the charts. The **total value of liquidated positions? A jaw-dropping $330 million—**in just 24 hours. According to CoinGlass, over 140,000 traders have been wiped out in the same timeframe. The biggest single liquidation? A $7.58 million order on Binance.
Final Thoughts
Crypto’s been on the ropes, and while some assets—like Litecoin—are bucking the trend, the broader market remains under siege. The coming days will be crucial. If Bitcoin can’t regain its footing above $94,000, further downside could be on the table. Stay strapped in—it’s gonna be a bumpy ride.
