In the past 24 hours, the crypto market faced a sharp decline, resulting in a loss of over $403 million in Bitcoin, Ethereum, and other assets.
Current Liquidation Figures for BTC and ETH
A significant portion of the liquidations came from long traders expecting a market rebound. Of the $305.80 million total liquidation, $216.23 million came from long positions. Liquidation affected cryptocurrencies such as BTC ($84.68 million), ETH ($76.16 million), Dogecoin ($11.37 million), and Solana ($10.6 million). These events were partly driven by market volatility and the Bybit hack incident.
Bitcoin and Ethereum Price Outlook
Bitcoin is currently priced at $96,510.68, a 1.75% decrease. Ethereum has seen its price move to $2,778.04. The optimism among long traders may be fueled by favorable U.S. policies, particularly the national Bitcoin strategic reserve being developed under Donald Trump's administration.
How Can the Market Recover?
Investors are preparing for continued volatility. Many expect price recovery for digital assets like BTC, ETH, and SOL under certain conditions. The U.S. Federal Reserve's focus on controlling inflation could make bonds attractive. However, if interest rate cuts materialize, attention might shift back to riskier assets like Bitcoin.
The crypto market remains under pressure, with potential stabilization hinging on policy changes and economic factors.
