Record Liquidations Spark Sharp Crypto Drop

The crypto market has sharply declined. In a few hours, major assets lost several months of gains, bringing bitcoin, Ethereum and Solana back to forgotten levels. After the 2025 momentum, investors hoped for consolidation. Instead, a wave of panic took over. More than 2 billion dollars were liquidated, revealing an atmosphere of extreme fear. The entire ecosystem is affected, from tokens to listed stocks, indiscriminately.

A wave of liquidation and a sharp drop

The crypto market experienced a violent shift, characterized by a record wave of liquidations. Indeed, more than 2 billion dollars were liquidated in just 24 hours.

This brutal movement caused the two main market assets to fall. Thus, bitcoin dropped below $63,000, wiping out a full month of gains, while Ethereum fell below $2,000, erasing most of the performance recorded in 2025.

Solana, meanwhile, fell back to $80, a level not seen since 2023. This series of declines confirms the market’s return to a severe bearish phase.

The domino effect spread far beyond cryptos themselves, impacting the entire related financial ecosystem. Listed assets, whether related to mining, trading, or asset custody, were all swept away. Here are the main recorded losses :

• Strategy (BTC) : -17 % in a single day ;
• BitMine (ETH) : -14 %, wiping out gains of recent weeks ;
• FWDI (SOL) : -10 %, in line with Solana’s drop ;
• HOOD (Robinhood) : -10 %, despite its diversification ;
• COIN (Coinbase) : -13 %, confirming broad pressure on exchanges ;
• CRCL (stablecoin equity): -9 %, hitting a historic low.

In this context, no segment was spared, not even assets supposed to offer relative stability like shares backed by stablecoins. This day of panic plunged the market into an extreme fear zone, where fundamentals seem to have been forgotten in favor of an immediate liquidation reflex.

The confirmed bearish market

Beyond the numbers and on-chain data, it is the lack of a clear catalyst that intrigues and worries observers. The exact origin of this drop remains difficult to pinpoint.

Several hypotheses circulate, including the reorganization at the head of the Fed, which triggered a rush to safe assets like precious metals. There is also a combination of macroeconomic factors. “From the Epstein case to the rise of quantum computing, through artificial intelligence and the disappearance of Crypto Twitter, everything seems to be targeting cryptos,” highlights Joe Weisenthal, journalist at Bloomberg.

What differentiates this sequence from other corrections is the domino effect observed in other segments of the overall financial market. Although the S&P 500 closed slightly below its highs, tech stocks, commodities, and even some safe sectors were impacted. This context leads some analysts to view the crypto market turnaround as a leading indicator of a general macroeconomic weakening, even though nothing allows to decide yet between a precursor signal or a simple sectoral volatility excess.

The crypto market is going through a marked phase of instability, with no clear trigger. The bitcoin price, retreating below $63,000, crystallizes the concerns of a sector under tension. In an atmosphere dominated by extreme fear, caution remains advised, as short-term outlooks remain unclear.