TL;DR
- Crypto market alarms spiked following massive BTC and ETH sales by Binance, Bybit, and Coinbase, causing prices to plunge.
- The movements were coordinated and of significant magnitude, suggesting strategic adjustments by large capital holders or cascading liquidations driving further sales.
- Bitcoin trades around $106,300 (-2.4%) with volume approaching $110 billion, while ETH drops to $3,800 (-4.1%) and the total crypto market capitalization falls 2.6% to $3.6 trillion.
Crypto market alarms surged after massive Bitcoin ($BTC) and Ethereum ($ETH) sales executed by Binance, Bybit, and Coinbase. Outflows from major exchanges triggered an immediate rise in volatility and a sharp decline in both assets’ prices.
Coordinated Moves and Massive Sales
Charts indicate that the movements were coordinated and large in scale, evidencing strategic adjustments by major capital holders or cascading liquidations forcing additional waves of sales. Investors are closely monitoring flows from the main exchanges to gauge the magnitude and duration of the impact.
Although the exact cause is unknown, the effect is clear: the crypto market is under pressure, prices have fallen, and uncertainty is widespread. The industry faces a period of fragility amid economic, political, and company-specific events. Any institutional adjustment or forced liquidation can generate rapid shockwaves across the ecosystem.
Crypto Market Collapses, Loses 2.6% of Market Cap
At the time of writing, Bitcoin (BTC) trades around $106,300 per unit, down 2.4% in the last 24 hours. Trading volume surged 37%, approaching $110 billion. Total market capitalization also dropped 2.6%, remaining above $2.1 trillion.
Ethereum (ETH), the second-largest crypto, currently trades near $3,800 per token after falling 4.1% in the last session. Its trading volume rose 30.5%, exceeding $61 billion, while its market capitalization fell 4.1%, sitting around $457 billion.
The rest of the crypto market is also in red. Some altcoins have lost up to 28% over the past week, with no signs of a quick recovery. Total industry capitalization fell 2.6%, remaining above $3.6 trillion.
