Bitcoin and altcoins could not continue the rise they experienced last week and experienced sharp declines in the new week.
While Bitcoin fell to $83,000, the largest altcoin Ethereum (ETH) also fell to $2,800.
However, Bitcoin rose above $90,000 again during the day. According to CoinMarketCap data, BTC rose 2.4% in the last hour and 5.8% in the last 24 hours to $90,790, driven by a strong buying wave.
Bitcoin is approaching $91,000, its biggest daily gain since May 2025, as leveraged short liquidations surge, data shows.
Ethereum also benefited from the recovery. ETH is trading at $2,970, up 6% in the last 24 hours. Solana (SOL) is up 8.6% to break above $136, while XRP and BNB are up 5.9% and 5.6%, respectively.
XRP, which fell below $2, rose above $2 again with the rise it experienced today.
Volatility in global markets has led to massive liquidations in derivatives positions. A total of $448 million in positions were liquidated in the last 24 hours.
According to Coinglass data, $168.3 million worth of long positions and $280.3 million worth of short positions were liquidated.
In the last hour alone, approximately $140 million worth of short positions were liquidated, compared to approximately $3 million worth of long positions.
On an individual basis, $212 million worth of short positions were liquidated in Bitcoin, followed by Ethereum, Solana, and ZEC.
The crypto fear and greed index continued its course in the “Extreme Fear” zone, falling to 23 today. It was at 24 yesterday and 20 last week.
*This is not investment advice.