The Crypto Market is bracing for a crash as Bitcoin ( BTC) teeters dangerously close to the $100,000 mark, a level that could trigger panic selling. The fear is not just from within the ecosystem as global conflicts such as the Israel-Iran war have escalated again, right after the India-Pakistan conflict.
Currently trading at $102,730 Bitcoin has already dropped 2.58% in the past week, and market sentiment is shifting towards bearish sentiment as BTC has breached its $104k support. With the increasing selling pressure bulls are struggling to keep up with price and may soon let bears have the complete field.
$680M in Total Liquidations, ETH tops the Pain Chart
Over $680 million in crypto long and short positions were liquidated in the last 24 hours, with more than 172,000 traders wrecked. The single largest liquidation order was of $9.15 million, recorded on HTX involving ETH/USDT pair.
Liquidation Heatmap | Source: Coinglass
Ethereum (ETH) is leading the slide, losing over 5.71% in 24 hours to $2,268. In these 24 hours alone, ETH saw staggering $282 million in liquidations, according to heatmap charts. This nearly doubles Bitcoin’s $151.69 million wipeout, signalling that ETH bulls are taking the brunt of the downturn.
- Ethereum: trading at $2271, Liquidated $282 million liquidated
- Bitcoin: trading at $102,730, liquidated $151.6 million
- Solana: trading at $135, liquidated $28.9 million
- XRP: trading at 2.07, liquidated 21.9 million
- Doge: trading at $0.156, liquidated 10.8 million
As all these cryptos are near their major support zones, bitcoin breaking the $100k support can ignite a market crash. Socially trending alt coins and memecoins have already felt the jitters as they have begun to fall over 15%. Pi coin is down 17.5%, Pepe coin is also down 17.4%. Dog with hat (WIF) and FLOKI both are down 15%.
Also Read: Crypto Price Today (June 21): Altcoins Drop! AB, VIRTUAL, SPX, UNI Crash 10%
