Crypto Market’s $1.34B Sell-off: BTC, ETH, XRP Take a Dive 🤿

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Oh boy, the crypto world is a mess! After the Bybit hack, we’re all watching the market do the downward dog with a cool $1.34 billion in crypto liquidations. BTC, ETH, and XRP are leading the pack in this “sell everything and run” party. Altcoins are also joining the “who can fall faster” contest. Over 363,000 traders just got a slap in the face from Mr. Market. Time to reset those portfolios, folks!

Crypto liquidations: By the numbers (and the tears)

According to CoinGlass, Bitcoin is the sell-off MVP, racking up a whopping $526.31 million in liquidations. Long traders got a serious beatdown, taking a $502.5 million hit, while short traders are probably crying into their pillows over their $23.81 million loss. This is the biggest crypto liquidation of the year – yay?

Ethereum is no stranger to the party, with a $292.42 million liquidation. Long traders are singing the blues over their $270.13 million loss, and short traders are sniffling over their $22.29 million. XRP decided to one-up everyone with a $56.77 million liquidation – a new record! Long traders lost $52.38 million, and short traders are probably looking for a hug after their $4.39 million loss.

The market trend is like a bad hangover, with Solana, Dogecoin, and Litecoin joining the “let’s all crash together” club. Futures traders are still betting on a price bounce – because hope is a beautiful thing, right?

Rebound triggers: Keep your eyes peeled (and your wallet closed)

The market’s future is as clear as mud, thanks to North America’s trade concerns weighing down the stock market. Crypto is like a little brother, always copying the big guy, so economic uncertainty might keep pushing Bitcoin down.

But hey, Bitcoin still has its fans! Michael Saylor’s Strategy just dropped $2 billion on Bitcoin, and other Wall Street firms are like, “Let’s do the thing!” They’re all hoping for a price recovery – fingers crossed, everyone!

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2025-02-25 13:21