The crypto market is having another rough day, with total market value sliding to $2.57 trillion, down nearly 4% in 24 hours. Bitcoin has slipped to around $75,900, putting it 13% lower for the week, while Ethereum is hovering near $2,226 after losing more than 21% in seven days. The pain isn’t limited to the big two; XRP, Solana, BNB, Dogecoin, and Cardano are all deep in the red, showing that selling pressure is spreading across the market.
About $1.6 billion in crypto positions were liquidated, according to data late Saturday. The sell-off intensified during low-liquidity trading hours, amplifying price swings as forced liquidations cascaded through the market. When U.S. futures reopened, Bitcoin a large CME gap of roughly $6,800 below Friday’s close.
This gap, near $77,700, is now acting as a resistance level. As long as Bitcoin stays below it, traders see room for prices to move lower, possibly toward $70,000.
The volatility was extreme. After US futures opened, Bitcoin $1,550 in just 12 minutes, then bounced back nearly $1,900 within half an hour. During this chaos, nearly $100 million in long positions were liquidated in a single hour. Open interest across the market has fallen more than 10%, showing that leverage is being flushed out.
Some investors believe crypto is “broken,” but macro investor Raoul Pal says that narrative is misleading. He points out that and US tech stocks (especially SaaS companies) are moving almost exactly the same way. This shows the problem is not crypto-specific.
According to Pal, the real issue is tight liquidity in the US financial system. Government cash management, recent shutdown-related moves, and a lack of fresh liquidity have drained money from risk assets. At the same time, gold has absorbed much of the available capital, leaving less money flowing into riskier assets like crypto and tech stocks.
Bitcoin and crypto are particularly vulnerable because they are long-duration assets, meaning they depend heavily on abundant liquidity. When liquidity dries up, they fall faster than safer assets.
For now, the market is in an “air pocket” — low liquidity, high fear, and violent price swings. Until liquidity returns, crypto is likely to remain volatile.
Just Now
Dear LBank User
Our online customer service system is currently experiencing connection issues. We are working actively to resolve the problem, but at this time we cannot provide an exact recovery timeline. We sincerely apologize for any inconvenience this may cause.
If you need assistance, please contact us via email and we will reply as soon as possible.
Thank you for your understanding and patience.
LBank Customer Support Team