- Major cryptocurrencies slid on Friday, with most losses driven by long liquidations and macro liquidity shifts.
- Ethereum posted the smallest 24-hour drop and showed more long liquidations than short squeezes, per Coinglass data.
- Bitcoin consolidated below $91,000 as analysts attributed recent moves to global liquidity and institutional flows rather than a strict four-year halving cycle (Willy Woo, Quinten Francois, Bitwise commentary).
- Solana, XRP, Dogecoin, and Cardano all fell, with varying liquidation totals and mixed retail sentiment on Stocktwits.
Markets saw declines on Friday night as major cryptocurrencies fell and leverage unwound across exchanges. Traders cited long-term deleveraging and shifts in global liquidity as the main drivers of the move, rather than a classic four-year halving cycle.
Ethereum traded near $3,082, down about 0.01% over 24 hours, with roughly $41.0 million in liquidations. Coinglass data shows $25.8 million of those were long positions and $15.2 million were shorts, indicating heavier long-side pressure; veteran trader Matthew Dixon noted observations about Ethereum’s constructive price structure in a post on X.
Bitcoin consolidated under $91,000, trading around $90,525 and registering about $59.3 million in liquidations, mostly long positions. Several analysts argued the market is now driven by broader capital flows and institutional positioning rather than a strict four-year cycle; see commentary from Willy Woo, Quinten Francois, and related macro notes.
Among altcoins, Solana fell about 3.2% to $135.92 with roughly $11.4 million liquidated despite about $816.9 million of ETF inflows into SOL products reported for SOL ETFs. XRP dropped to about $2.08 with $9.5 million liquidated; Dogecoin traded near $0.139 with $4.4 million liquidated; and Cardano was near $0.389 with about $0.8 million liquidated. Retail sentiment on Stocktwits varied by token.
Across the market, roughly $205.2 million was liquidated in the past 24 hours, driven mainly by long positions.
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