Crypto Market Sees Widespread Decline Amid $945M in Liquidations

The cryptocurrency market has experienced a significant correction, with Bitcoin plummeting below the $75,000 mark and Ethereum losing over 5% of its value in a single day.

Data from CoinGlass shows that total liquidations reached approximately $945 million in the past day, with long-position liquidations accounting for more than $870 million of this amount.

The largest liquidations were concentrated in Bitcoin and Ethereum, with over $377 million in Bitcoin positions being forcibly closed and Ethereum liquidations exceeding $256 million.

Other heavily affected assets included Solana, XRP, and Dogecoin, as most leading cryptocurrencies posted daily losses ranging between 4% and 8%.