Crypto Liquidations Top $477M as Bitcoin Slips Below $90K
Bitcoin’s early 2026 gains have reversed, falling 2.4% in the past 24 hours to $89,881. The total crypto market cap dropped 2.6% to $3.305 trillion. Over $477 million was liquidated, with over 90% of liquidations coming from long positions. Ethereum fell 3.9% and XRP 7.6%; meme coins like Pepe and Bonk, which had surged early in the year, are now down 6.6% and 8%, respectively. The rally’s fade is attributed to waning early-year momentum, renewed outflows from U.S. spot Bitcoin ETFs (with a $243 million outflow), and broad risk-off sentiment as investors await key macroeconomic data. Liquidity across crypto markets remains thin, amplifying price volatility. Investors currently assign just a 24.5% probability that Bitcoin will reach a new all-time high before July. Despite some long-term structural positives, immediate buying pressure is weak, and market sentiment remains subdued.
