- Nearly $1 billion in crypto positions were liquidated within 24 hours, mostly in long trades.
- Bitcoin price fell over 8%, triggering broad declines in crypto-linked stocks.
- Renewed signals of interest-rate hikes from the Bank of Japan influenced the market downturn.
- More than 260,000 traders experienced liquidations, according to data.
- Retail sentiment turned bearish for both Bitcoin and related equities during the slump.
In the past 24 hours, the cryptocurrency market faced substantial losses as almost $1 billion in positions were liquidated. Most of these liquidations were long trades, totaling about $864 million. The sharp downturn occurred midday Monday when Bitcoin (BTC) fell below $64,000, pulling down various crypto-related equities in the process. The decline was connected to renewed indications of potential interest-rate hikes by the Bank of Japan.
According to liquidation data, over 260,000 traders saw their positions wiped out in the selloff. Short positions accounted for $75 million in liquidations. The largest single trade liquidation occurred on Hyperliquid, removing $15.6 million from a BTC-USD position.
Retail sentiment quickly shifted during this correction. On the Stocktwits platform, chatter about Bitcoin rose from low to normal, while sentiment turned ‘bearish’ from ‘neutral’ as Bitcoin became the top-trending crypto ticker.
The selloff extended to crypto-related equities. MicroStrategy (MSTR), a major institutional holder of Bitcoin, saw its share price drop more than 11% and became the leading trending equity ticker with sentiment falling from ‘extremely bullish’ to ‘bullish.’ Other companies linked to the sector also suffered significant losses. Bitmine Immersion Technologies (BMNR), supported by Tom Lee, declined by over 11%, while crypto miners Marathon Digital (MARA) and Riot Blockchain (RIOT) each dropped by more than 7%. Coinbase Global (COIN) fell over 6%.
The turbulence across cryptocurrencies and related stocks highlights the influence of macroeconomic signals and shifting retail sentiment in highly volatile markets.
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