The total crypto market cap fell from $2.69 trillion to $2.12 trillion, shedding $571 billion in ten days—a 21.2% drop. BTC fell 22.4% to $62,570, while ETH took an even bigger hit, dropping 28.8% to $1,729.

$1.3 billion in liquidations in 24 hours, including $1.2 billion in long positions. This isn’t a pullback—it’s longs being carried out one after another. Positions built up on leverage have no cushion when prices fall.

Worth noting that short positions accounted for only $100 million. The bears barely put up a fight; the drop came from the bulls tripping over themselves. In this kind of market, rebounds can be quick too—but only after leverage has been cleared out. So far, it hasn’t been.

#Market Analysis