Crypto Market Chaos: $520M in Liquidations as BTC, ETH, XRP, SOL Fall Again

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The crypto circus came to a dramatic halt on Tuesday as the market gave up all its gains from Monday during U.S. trading hours, sending over $400 million in long liquidations flying into the abyss. The resulting wipeout dragged major tokens back into the red, proving once again that optimism in crypto is about as reliable as a weather forecast in London.

  • The crypto market stumbled by over 2%, thanks to a delightful wave of liquidations. Oh joy.
  • Bitcoin, Ethereum, and Solana posted losses between 2-6%, because why not add more drama?
  • The Crypto Fear and Greed Index has once again plunged into the delightful “Extreme Fear” zone. Because, of course, why not?

Bitcoin (BTC), the grand poobah of cryptocurrencies, took a nosedive to an intraday low of $102,461 on Wednesday, Nov. 12. That’s nearly 5% off its Tuesday high of over $107K. This dramatic plunge was a gracious retreat from the rally sparked by U.S. President Donald Trump’s “tariff dividend” remarks, which-surprise, surprise-failed to hold any lasting promise. At the time of writing, BTC had recovered slightly, but still showed a 2% loss over the past 24 hours. Truly inspiring stuff.

Ethereum (ETH) fell 3.2%, now trading at $3,450, while other heavy-hitters like XRP, BNB, Solana, and Dogecoin were down 3-6%. It seems only three out of the top 100 cryptocurrencies managed to stay in the green today, leaving us all to wonder: What is this strange feeling in our chests? Could it be… hope?

The entire market cap sank 2.1% to $3.56 trillion, dragged down by nearly $525 million in liquidations. Of that, $402 million came from long liquidations, suggesting that bullish traders were caught completely off-guard by this sudden drop. In case you’re wondering, long positions getting liquidated often triggers a vicious cycle of forced selling, exacerbating the whole disaster. A symphony of chaos, really.

And then there’s the Crypto Fear & Greed Index, which somehow managed to lose 2 points in the past 24 hours and has now tiptoed back into the “Extreme Fear” zone. Shocking, really. Who could have predicted this delightful turn of events after last month’s heart-stopping $19 billion wipeout?

China accuses US of $13B BTC theft

But wait, there’s more! The crypto market stumbled further as traders, no doubt exhausted from their emotional rollercoaster, decided to lock in profits and retreat into their safe spaces. Why? Well, it turns out that China’s cybersecurity agency has accused the U.S. government of stealing a cool $13 billion worth of Bitcoin from the infamous LuBian mining pool, one of the most audacious crypto heists in recent memory. This fresh drama only added to the market’s woes. Investors are now on edge, wondering if China might do something dramatic about this. With U.S.-China relations already strained by unresolved tariff issues, why not add a juicy heist to the mix?

SoftBank sells its $5.8B Nvidia stake

If you thought that was enough of a spectacle, think again. Traders ramped up their risk-off sentiment after Japanese investment bank SoftBank revealed it sold its entire $5.8 billion stake in Nvidia. Naturally, the stock of the world’s most valuable company took a slight dip-down by nearly 3%. Meanwhile, the Nasdaq 100 dropped 200 points and the S&P 500 took a 20-point hit, because who doesn’t love a good market meltdown?

On top of that, the market cap of AI-focused cryptocurrencies-a sector that’s about as trendy as avocado toast-fell by 5.5%, now sitting at $26.6 billion. The likes of Story (IP), Bittensor (TAO), and Render (RENDER) led the charge into the red zone. For those still unacquainted with the intricacies of this grand show, tech stocks and crypto markets often move in lockstep. Both are considered higher-risk assets, so when the market catches a cold, you can bet both sectors will be sneezing in unison.

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2025-11-12 10:36