Bitcoin dropped below USD 90,000 during a rapid sell-off, triggering liquidations across leveraged positions and contributing to an estimated loss of over USD 1 trillion in total crypto market capitalization.
Key points
- BTC briefly traded under USD 90,000 amid sharp spot and derivatives market sell-offs.
- Aggregate market loss exceeds USD 1 trillion; leveraged liquidations amplified price declines.
- Analysts cite macro shifts, rapid deleveraging, and institutional flows as primary drivers.
What happened
In the last 48 hours, strong selling pushed BTC below USD 90,000. Forced liquidations on futures and margin platforms intensified pressure and spread to other major crypto assets.
Liquidations & scale
More than USD 1 billion in long positions were liquidated within 24 hours at the peak. Exchange orderbooks showed increased sell pressure and wider spreads during volatile periods.
The cumulative effect of price drops and margin calls contributed to the estimated USD 1 trillion market contraction.
Main drivers of the sell-off
Reduced odds of near-term rate cuts lowered risk appetite across assets.
Leveraged longs faced margin calls, forcing quick unwinds.
Redemptions and lower inflows into crypto products reduced demand.
Market transmission
Correction affected tokenized funds and crypto-linked equities, magnifying volatility and selling pressure across institutional portfolios.
Technical outlook
Support around USD 84,000–86,000 is crucial. Holding this band may reduce liquidation risk, whereas a drop below could trigger further leveraged selling.