$BTC — CRYPTO BLOODBATH: LEVERAGE JUST GOT OBLITERATED
The market just went through a violent reset.
In less than 72 hours, over $500 BILLION vanished from total crypto market cap, while more than $5 BILLION in leveraged positions were force-closed as volatility ripped through every book.
Bitcoin was the epicenter. BTC dropped −13%, wiping roughly $265B in value.
Ethereum took an even harder hit — −25%, erasing $91B.
High-beta majors were collateral damage:
$SOL down −23% (−$16B),
$XRP down −22% (−$24B).
This wasn’t fear from headlines.
This was positioning snapping.
Liquidity was thin. Leverage was crowded. Once price started moving, margin calls did the rest. Stops triggered. Liquidations cascaded. Structure didn’t matter — survival did.
This isn’t rotation.
This is the market flushing excess.
Now comes the only question that matters:
Was this the capitulation event that clears the path forward…
or just the first crack before a deeper reset?
Markets don’t speak in words.
They speak in pain.
