The crypto market has been through a brutal shakeup over the past 24 hours, with Bitcoin hitting $77,000 lows while XRP and SOL fell by as much as 14% amid a wave of forced liquidations totaling over $840 million.
XRP and Solana Lead Crypto Crash as $840 Million in Long Positions Are Liquidated
A sharp decline in Bitcoin (BTC) prices triggered cascading losses across major tokens late last night, forcing crypto bulls to exit heavily leveraged positions and sending shockwaves through the market.
Long positions bore the brunt of the carnage, accounting for nearly 86% of all liquidations, according to data from CoinGlass.
Bitcoin investors alone lost more than $322 million, while Ethereum (ETH) bulls lost around $290 million. Altcoins were hit even harder, with XRP and SOL futures recording a combined liquidation of $80 million.
Market-Wide Declines
Bitcoin has had one of its worst starts to a typically bullish month, April, by falling below $77,000. Ethereum is down 15% to trade around $1,500, while altcoins have seen even steeper declines:
- Solana (SOL) fell 14%.
- XRP lost 14% of its value.
- Dogecoin (DOGE) lost 15% of its value.
- Binance Coin (BNB) held relatively steady but is still down 8%.
According to CoinGecko data, mid-cap and smaller tokens experienced losses between 10-20%, while the broader crypto markets followed suit.
The crypto crash comes as global risk assets face heavy selling pressure amid growing fears over US trade policy.
U.S. stock index futures fell nearly 5% as investors braced for the fallout from the Trump administration’s latest tariff moves, sparking fears of a deepening trade war.
Hedge fund billionaire Bill Ackman warned that the US is heading towards “economic nuclear war” and called on President Trump to pause and reconsider his tariff hikes.
What’s Next for Crypto?
While market sentiment remains fragile, some traders see the recent collapse as a potential buy-the-dip opportunity, especially if Bitcoin stabilizes and global macro fears ease.
Still, with over $840 million worth of long positions wiped out and the market clearly shaken, crypto bulls may need to tread carefully in the coming days.
*This is not investment advice.
Continue Reading: Bitcoin and Cryptocurrency Market Experienced the Hardest Fall of 2025! Millions of Dollars Liquidated! Will the Fall Continue? Here Are the Details
