- XRP’s crash sparked over $840 million in long liquidations, with Bitcoin, Ethereum, and altcoins like Solana and Cardano all taking big hits.
- Nearly 86% of traders were overly bullish before the crash, which made the liquidations even more brutal as the market flipped fast.
- Some see this dip as a possible turning point, but with trade war fears and shaky global sentiment, caution is still the name of the game.
Well… that went downhill fast.
XRP just faceplanted, dragging the rest of the crypto market right off the cliff with it. Solana’s down bad, Cardano’s barely treading water, and traders? Kinda stunned. The entire crash wiped out $840 million in long positions — that’s not a typo — as Bitcoin slipped below $77,000. Now everyone’s asking the same thing: is this a dip worth buying? Or is it just the first crack in the floor?
Let’s break it down.
Liquidations Everywhere — Like, Everywhere
The numbers are rough.
According to CoinGlass, Bitcoin traders took a $322 million loss, and Ethereum futures got hit for another $290 million. Altcoins didn’t escape the carnage either — between XRP’s crash and Solana’s slide, we saw $80 million in liquidations. That’s the kind of flush that hasn’t shown up in months.
One trader on Reddit called it a “crypto blender.” Hard to argue with that.
What Caused the Meltdown?
In short: Trump’s back on his tariff grind, and markets — both crypto and stocks — are not loving it.
The Solana dip and Cardano drop happened alongside broader fears of economic fallout from the U.S. throwing around trade threats again. The whole situation is still unfolding. Nothing’s confirmed, no one really knows where it ends, and that’s exactly the kind of uncertainty traders hate.
Bill Ackman, the billionaire hedge fund guy, chimed in and said the President should “call a time out” before things spiral into what he called an economic “nuclear war.” Dramatic, sure. But not entirely wrong?
Bullish Bets Got Wrecked
Here’s where it really stings — 86% of futures trades were long before the crash. That’s a whole lot of hopium. And when markets turned, those long positions didn’t just fade. They got force-liquidated. Boom — margin calls, stop outs, dominoes falling left and right.
Cardano’s plunge was like the first piece tipping over. Then the rest just… followed.
Is This the Dip You’ve Been Waiting For?
Maybe. Maybe not.
Some analysts think this could be a “capitulation event” — the kind of panic flush that might signal a bottom. The idea is that when sentiment gets this bad, when liquidations spike and everyone’s afraid to even open the chart… that’s usually when a bounce starts brewing.
But — and it’s a big but — there’s still a ton of macro noise. Global markets are shaky, inflation’s not really gone, and the trade war chatter could spook things further. So yeah, a reversal could happen. But so could more pain.
If you’re gonna buy the dip, maybe ease in instead of aping in all at once.
Bottom line? XRP and friends got crushed. Liquidations hit levels we haven’t seen in a while, and market sentiment is sitting in the gutter. Whether this is the storm before the calm or the start of something worse — we’ll know soon enough.
