Bitcoin Tumbles Below $83K as Crypto Market Sheds $1 Billion in Liquidations

Bitcoin, Ethereum, and Solana Suffer Heavy Losses as Sell Pressure Mounts

Bitcoin and its digital asset counterparts endured a turbulent session, with global trade volume reaching $175.84 billion—over 4% lower than the previous day, with a predominant share driven by sell-offs. BTC’s price bottomed out at $82,618 during the past 24 hours, and by 9 p.m. ET, it had edged up slightly to $83,634. Of today’s total global trading activity, $72.86 billion can be attributed to BTC volume alone.

BTC has declined by 10.5%, while ethereum (ETH) has taken a steeper fall of 16.5%. Close behind, XRP has depreciated by 18.7% against the U.S. dollar. BNB has slipped by 10.2%, whereas solana (SOL) has suffered an even sharper decline at 21.3%.

However, the losses for cardano (ADA) were even more pronounced, with a 27.4% drop, while meme coin dogecoin (DOGE) shed 17.5%. Some of the hardest-hit assets were also meme coins, with SNEK, MOG, and AI16Z plummeting by 29.29%, 28.24%, and 27.59%, respectively.

POPCAT, TRUMP, and PNUT also recorded double-digit losses exceeding 20%. The sell-off was so intense that crypto derivatives platforms saw $1 billion in liquidations. Of this, $867.87 million came from long positions, with BTC derivatives alone accounting for $310.55 million in liquidations over the last day. Significant liquidations also occurred in ETH, SOL, XRP, and ADA positions.