Crypto Market Suffers Worst Week Since FTX Collapse with $5.7B Liquidation

The crypto market has entered a period of extreme volatility, with significant losses reported across various asset classes.

According to CoinGlass data, over $5.7 billion in long positions were liquidated in the span of seven days, marking one of the worst weeks for the crypto market since the FTX collapse in November 2022.

The majority of these liquidations came from traders who had bet on rising prices, with long positions accounting for more than 80% of total liquidations.

This trend is part of a larger dynamic of sustained outflows from Bitcoin ETFs and deteriorating sentiment in the market.

Bitcoin and Ether have both experienced their worst weekly performance since the FTX collapse, mirroring the speed and severity of price destruction seen during that event.