The crypto market is under pressure again, with prices sliding sharply during the latest trading session.
Total crypto market value has dropped 3.24% to $2.57 trillion, wiping out nearly $50 billion in a matter of hours. The selloff accelerated after the U.S. market opened, when Bitcoin suddenly fell by around $1,700.
Liquidations Add Fuel to the Drop
The sharp move triggered heavy liquidations.
- Over $55 million in long positions were liquidated in just two hours
- Traders betting on higher prices were forced out, pushing prices even lower
This happened despite positive news around the U.S. government shutdown, showing that market sentiment remains fragile.
Bitcoin and Ethereum Lead the Decline
- Bitcoin fell more than 4% in 24 hours, trading near $75,700
- Ethereum dropped over 6%, falling to around $2,220
- Major altcoins like XRP, Solana, and Cardano also moved lower
Fear remains high, with the Crypto Fear & Greed Index stuck at 17, deep in “extreme fear” territory.
ETF Outflows and Weak Confidence
One key pressure point has been continued selling from institutional products.
- U.S. spot Bitcoin ETFs have seen about $2.8 billion in outflows over the past two weeks
- This steady selling has drained confidence and reduced buying support
Oversold conditions and low liquidity made the market vulnerable to sudden drops.
Ethereum at a Turning Point
Ethereum has broken below an important support level, adding to the bearish mood.
- Short-term price trends remain weak
- Longer-term trends are still pointing higher
- Investors are now watching for a strong support zone to hold before any recovery can begin
Analysts say that Ethereum could still outperform Bitcoin later in the cycle, but only if broader market conditions stabilise.
A Sharp Contrast: Gold and Silver Surge
While crypto struggled, traditional safe-haven assets surged.
- Gold is up 11% from its recent low, adding more than $3 trillion in value
- Silver has jumped nearly 20%, adding around $800 billion
Together, nearly $4 trillion flowed back into precious metals in just 30 hours, a possible sign that investors are seeking safety.
What Should Investors Watch Next?
The next major catalyst will be the upcoming U.S. Federal Reserve meeting, which could set the tone for global markets.
Looking ahead, some research firms have warned that if selling pressure continues and no new catalysts emerge, Bitcoin could slide further and could even hit $58000, with long-term support levels coming into focus.
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