Navigating Crypto Market Volatility: Bitcoin, Ethereum, and Dogecoin Prices Plummet

Crypto Carnage: Liquidations Soar as Market Tumbles

Billions Wiped Out as Traders Get Caught on the Wrong Side

The cryptocurrency markets have experienced a severe downturn, with liquidations reaching staggering levels. Data from CoinGlass reveals $320 million in long positions were liquidated in just the past hour, contributing to a 24-hour total of $713 million in crypto liquidations. The overwhelming majority—over $650 million—were long positions caught in the market's downward spiral.

Bitcoin and Ethereum Lead the Decline

Bitcoin has borne the brunt of the sell-off, with $317 million liquidated in the past day—$306 million of which were long positions. The leading cryptocurrency has dropped nearly 3% to below $106,200, despite maintaining a 5% weekly gain. This retreat follows Bitcoin's recent peak above $110,000 earlier in the week.

Ethereum hasn't been spared either, suffering $151 million in liquidations. ETH has declined over 6% to $2,650, though it still shows a 9% weekly increase.

Altcoins Crumble Amid the Rout

The downturn extends beyond major cryptocurrencies, with Solana, XRP, and Dogecoin all experiencing significant losses. Dogecoin leads the decline among top 10 assets, plunging 7% to $0.181. The broader crypto market has fallen approximately 5% in 24 hours, underscoring the sector's notorious volatility.

Technical Analysis: Where Will Bitcoin Go Next?

Bitcoin's pullback from near-record highs has traders analyzing charts for potential next moves. The initial rally past $110,000 quickly reversed as investors took profits following cooler-than-expected CPI data—a classic "buy the rumor, sell the news" scenario.

With Bitcoin currently trading around $107,369 and Ethereum at $2,746, market uncertainty prevails. Investors remain watchful for signs of recovery or further declines, but one reality remains unchanged: cryptocurrency markets continue to deliver extreme volatility.