Crypto Crash: Liquidations Top $2.5 Billion as Bitcoin, Ethereum and XRP Prices Plummet
Cryptocurrency prices dropped sharply Saturday, with Bitcoin falling 8% in 24 hours to $77,195—its lowest in nine months and down over 13% on the week. Bitcoin has lost nearly 39% since its October peak. Ethereum fell 13% in a day to $2,362 and is down 20% on the week, having lost 52% since August. Major altcoins also saw double-digit losses; XRP is down 10%, Solana 14%, and Dogecoin 13%. The overall crypto market dropped 7.5% in the past day. Futures liquidations reached $2.53 billion, mainly from long positions, with Ethereum and Bitcoin accounting for most of it. Prediction markets now give Bitcoin a nearly 65% probability of dropping further. The downturn follows a volatile week influenced by a partial U.S. government shutdown and concerns over an AI investment bubble. U.S. spot Bitcoin and Ethereum ETFs saw outflows of about $1.5 billion and $327 million, respectively. Meanwhile, gold and silver hit all-time highs before dropping sharply Friday, reflecting a broader shift to risk-off sentiment.
