Crypto Market Hit by $220M Liquidation Wave as Bitcoin Slips Below $110,000

The crypto market faced a brutal shakeout this week as more than $226 million in positions were liquidated within a single hour, with leveraged long traders taking the heaviest blow.

Ethereum bears the brunt

Ethereum saw the steepest wipeout, with over $107 million in ETH longs liquidated, making it the largest single-asset liquidation of the day. Bitcoin followed with roughly $55 million erased, while Solana, XRP, and BNB also saw significant losses ranging between $5–10 million.

The overwhelming majority of the liquidations, more than $218 million, came from long bets, underscoring how leverage magnified the downturn.
ETH plunged more than 6.5% in 24 hours and nearly 15% over the week, falling under $3,905. Solana was hit even harder, dropping more than 21% weekly to trade near $196, while XRP, Cardano, and Dogecoin also posted declines of 6–8%.

Bitcoin breaks key support

Bitcoin extended its slide on Thursday, dipping below $110,000 for the first time in weeks. Over $55 million in BTC positions were liquidated in 24 hours, with longs again taking nearly all the damage. The selloff dragged the total crypto market cap down to $3.76 trillion, a 4% daily decline.

Technical signals added to the bearish tone.

TradingView indicators flashed a “Strong Sell” on moving averages, while the RSI fell toward 42, suggesting weakening demand and potential for further downside. Analysts warn that failure to hold above $108,000–$109,000 could open the door to a drop toward $104,000, a level that has previously served as support.

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Outlook: leverage still driving volatility

The cascade of liquidations highlights how leverage remains a destabilizing force in crypto markets. Analysts caution that unless Bitcoin can reclaim $112,000, sentiment will stay fragile and volatility elevated. For now, traders face a market where high leverage ensures that every move, up or down, risks triggering another wave of forced selling.