More than 172,000 traders were liquidated in a single day as Bitcoin’s losses piled up, pushing the cryptocurrency out of the world’s top 10 largest assets by market cap. Bitcoin now sits at 13th place, trailing gold, NVIDIA, Apple, Microsoft, and silver, among others.
Longs Take The Brunt
Total crypto liquidations reached $921 million within 24 hours, with Bitcoin alone accounting for $352 million. Ethereum followed at $241 million, while XRP, ZEC, HYPE, SUI, DOGE, and NEAR recorded the remaining losses.
Long positions made up more than 90% of all liquidations, a sign that traders had bet on a price recovery that never came — resulting in forced selling rather than new bearish bets.
Four-hour liquidations hit $95 million, with longs at $55 million and shorts at $39 million. Across exchanges, Hyperliquid and Bybit saw heavy long liquidations, OKX leaned toward short liquidations, and Binance recorded equal long-short positions.
Bitcoin was trading around $73,125 at the time of writing, down 1.70% in 24 hours and 5% over the past week. Its intraday range ran from $72,485 to a high of $75,280.
A Wider Market Slide
The broader crypto market moved in the same direction. Ethereum dropped 5.60% over the week, BNB fell 2.50%, and XRP declined 3.15%, according to Coingecko data. Tether slipped just 0.005%.
Meanwhile, gold held the top spot globally with a market cap exceeding $31 trillion, based on CompaniesMarketCap data. NVIDIA, Google, Apple, and Microsoft followed.
AI-driven demand has kept NVIDIA and Broadcom among the stronger performers in recent months, while gold and silver have attracted buyers looking for stability.
Bitcoin’s total market cap stands at roughly $1.47 trillion — significant by most standards, but no longer enough to place it in the top 10 alongside the world’s biggest companies and commodities.
Bearish Signals Across The Board
Technical indicators paint a gloomy picture. On the 1-day chart, moving averages from 10 to 200 periods all point to negative momentum, according to TradingView data. The oscillator group is mixed — the RSI sits at 3 6, which is considered neutral, but two other oscillators are flashing sell signals.
Whether Bitcoin can climb back into the top 10 will depend heavily on price action in the weeks ahead. Reports indicate a sustained move above $75,000 could help restore market confidence, while a break below key support levels may extend the current slide.
Featured image from Bitpanda Blog, chart from TradingView
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Christian Encila