The crypto market is plummeting. Bitcoin (BTC) fell hard on Monday and even fell below $ 92,000, the lowest level in months. Ethereum (ETH) also slid through an important support level, while the damage to leveraged traders amounts to hundreds of millions.
Bitcoin crashes to 2025 low
Less than a week ago, the Bitcoin price was above $107,000. That revival turned out to be short-lived. Since then, the market has corrected significantly and on Monday BTC even fell below $ 92,000. It is the lowest since April 24 and marks a seven-month low.
It is striking that there appears to be no clear reason for the crash. While previous declines were often caused by macro uncertainty or bad industry news, market letter Kobeissi Letter now points to something else: excessive leveraged trading.
According to analysts, Bitcoin has recently entered a new structural bear market. And it seems to be deepening further.
Ethereum under $3,000, altcoins blood red
Ethereum has now fallen below the psychological limit of $3,000. On a weekly basis, the currency is more than fifteen percent in the red. The monthly performance is also severely negative, with a decline of more than 22 percent.
The rest of the market is sharing in the malaise. XRP lost 3.6 percent and Solana (SOL) even fell by more than five percent in 24 hours.
Liquidated $800 million in positions
The consequences of the sharp price drops and high leverage are clearly visible. In total, nearly $800 million worth of positions have been liquidated in the past 24 hours. More than 150,000 traders were ‘demolished’ from their positions, according to figures from CoinGlass.
The biggest blow fell on the Hyperliquid platform, where a single order of no less than 96.5 million dollars was liquidated.
Source: https://newsbit.nl/bitcoin-crasht-onder-92-000-ethereum-onder-3-000-liquidaties-stijgen-tot-800-miljoen/
