Crypto Shaken: $630M Liquidations, Bitcoin Holds $115K

1. Crypto Market Faces $630M Liquidation Shock

In the past 24 hours, the cryptocurrency market witnessed over $630 million in leveraged positions liquidated, with longs accounting for over $580 million. This indicates that many traders were caught on the wrong side during a sharp sell-off.

Liquidations occur when traders use borrowed funds and their collateral drops below required thresholds, forcing exchanges to close positions. This usually increases short-term volatility as liquidated positions create sudden selling or buying pressure.

2. Bitcoin Holds Steady as Altcoins See Sharp Corrections

 - Bitcoin (BTC): dropped to $115,204 (currently trading around $114,682), erasing some recent gains but remaining more stable than altcoins.

 - Ether (ETH): declined to $3,687.

 - XRP: slipped below $3 despite recent positive headlines.

 - Solana (SOL): fell to $170.

 - BNB: eased to $780 after peaking at $855 last week.

Bitcoin’s dominance slightly increased as altcoins faced heavier selling pressure, suggesting capital is flowing back into BTC as a market anchor.

3. Largest Liquidation and Market Data

According to Coinglass, the largest single liquidation was an ETH long worth $13.7 million on Binance. The fact that liquidations were heavily skewed toward longs indicates overleveraged positions, which can trigger market inflection points as conditions reset.

4. Speculative Altcoins Hit Hard

Solana-based tokens such as Fartcoin (FART), Pump.fun (PUMP), and Jupiter (JUP) saw steep declines:

 - FART: down 14%, testing its 100-day EMA near $1.

 - JUP: broke support at the 200-day EMA.

 - PUMP: continued sliding within a descending channel.

According to Ryan Lee, Chief Analyst at Bitget, this correction stems mainly from profit-taking and fading short-term momentum, rather than a broader market downturn.

5. Bitcoin as the Market Anchor

 - Bitcoin above $115,000 remains a critical support level, keeping the overall bullish structure intact.

 - ETF inflows and macroeconomic stability continue to support Bitcoin’s strength.

 - Traders should monitor liquidation heatmaps and funding rates to spot potential selling or short squeezes near key support and resistance zones.