Bitcoin Drops To $82,200 Wiping Out $2 Billion In Liquidations – Crypto Market Cap Falls Below $3 Trillion

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Bitcoin alone accounted for over $1 billion in forced liquidations, with Ethereum and Solana following.

  • More than $2 billion in crypto positions were liquidated, one of the largest single-day totals this year.
  • Glassnode data showed realized losses have climbed back to levels last seen during the FTX collapse.
  • The total crypto market capitalization dropped below $3 trillion amid broad-based declines. 

Bitcoin (BTC) fell to $82,200 on Friday, extending a sharp decline that has wiped more than 10% from its value in the past 24 hours. The selloff triggered a wave of crypto market liquidations that topped $2 billion, marking one of the largest single-day washouts this year.

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Data from Coinglass showed that nearly $1.89 billion of liquidations came from long positions, which include traders betting on rising prices, and just $145 million in short positions were cleared. Bitcoin accounted for more than $1 billion of those liquidations, followed by Ethereum (ETH) at $428 million and Solana (SOL) at $104 million.

Bitcoin Loss Levels Jump to FTX-Era Lows

BTC was the top-trending ticker on Stocktwits, with Bitcoin’s price down 34% from its all-time high of more than $126,000 in early October. Retail sentiment around the apex cryptocurrency on the platform trended in ‘bearish’ territory over the past day as chatter rose to ‘extremely high’ from ‘high’ levels.

According to on-chain analytics firm Glassnode, Bitcoin’s realized losses have surged to levels last seen during the FTX collapse, with short-term holders driving the bulk of the capitulation. The scale and speed of these losses reflect a meaningful washout of marginal demand as recent buyers unwind into the drawdown.

Crypto Market Cap Falls Below $3 Trillion

The total cryptocurrency market capitalization fell below $3 trillion, down 9.8% over the past 24 hours. Most large-cap tokens posted double-digit losses during early morning trade on Friday.

Cardano (ADA) led declines among the top 10 cryptocurrencies, falling 14.2%. Dogecoin (DOGE) dropped 13.4%, while Solana (SOL) slipped 12.6%. Dogecoin’s price fell to $0.1356, its lowest level since October. The meme token was among the top trending tickers on Stocktwits with retail sentiment around the altcoin trending in ‘neutral’ territory over the past day. 

Meanwhile, Solana’s price fell to April-lows, at $122.32. On Stocktwits, retail sentiment around the altcoin was in the ‘extremely bearish’ zone over the past day.

Ripple’s XRP and Ethereum each fell more than 11%, and Binance Coin (BNB) declined 10.3%. ETH was also among the top trending tickers on Stocktwits. Ethereum’s price hit its lowest levels since July, earlier this year, at $2,650.

Read also: Dow Futures Rise As Wall Street Looks At End Of A Rollercoaster Week: INTU, WBD, GAP, MSTR Among Stocks To Watch

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