Bitcoin fell below $90,000 on several exchanges for the first time since April 21, 2025, sliding about 5.5% over the past day. The decline triggered widespread leveraged unwinds, with more than 184,000 traders liquidated and total liquidations reaching approximately $1.02 billion, mostly impacting long positions.
Key Developments
- BTC price: briefly under $90,000; intraday levels recovered near $90,200 by morning
- 24h change: roughly -5.5% for BTC
- Largest single liquidation: $96.51 million on the
BTC-USDpair at Hyperliquid - First drop below $90K since: April 21, 2025
Liquidations Surge
Over the last 24 hours:
- 184,148 traders were liquidated
- Total liquidations reached $1.02 billion, with over $720 million in long positions
Leveraged longs bore the brunt of the move as spot and perpetual markets repriced, triggering a cascade of margin calls across major venues.
Market Reaction
Despite Bitcoin’s decline, altcoins showed relative resilience:
- Among top-cap assets, only Ethereum (ETH) and Cardano (ADA) posted drops comparable to BTC
- Solana (SOL) and XRP held steadier, avoiding the sharper drawdowns often seen during BTC sell-offs
- Within the top 100, the weakest names lost no more than 10–15%; some, like Internet Computer (ICP) and HYPE, remained in the green
Morning market snapshot:
- BTC: $90,200
- ETH: $3,012
- XRP: $2.16
- BNB: $909
- SOL: $136
- Total crypto market cap: $3.08 trillion
- BTC dominance: 58.86%, down 1% on the day and about 2% over the week
- Crypto Fear & Greed Index: 11 (extreme fear)
Technically, BTC has retraced from earlier 2025 highs above $110,000, with the weekly chart reflecting a broader correction phase.
Outlook
The modest pullback in BTC dominance and the more measured reaction from altcoins suggest a market attempting to find balance after a rapid deleveraging. If dominance continues to ease, capital could rotate further into select altcoins, though elevated liquidation risk remains while volatility persists.