Crypto Crash: Liquidations Top $2.5 Billion as Bitcoin, Ethereum and XRP Prices Plummet

Crypto prices extended their recent decline Saturday, with top assets like Bitcoin , Ethereum , and XRP plunging to prices not seen in several months or more, with liquidations continuing to climb throughout the day. Bitcoin is down 8% over the last day at a recent price of $77,195, according to CoinGecko, marking the lowest price seen in nine months and extending its weekly slide to over 13%. The price of the top cryptocurrency has fallen nearly 39% since peaking above $126,000 in October. Meanwhile, Ethereum is showing a much harder hit, falling 13% on the day to a recent price of $2,362 and now down 20% over the last week. The second-largest coin by market cap has lost 52% of its value since peaking shy of $5,000 back in August.  Most major altcoins are similarly showing double-digit percentage losses over the last day, with XRP down 10% to $1.58, Solana falling 14% to $101, and Dogecoin diving 13% to $0.101. Broadly, the market is down 7.5% in the last 24 hours. Futures traders betting on future gains have been hard hit over the last day, as CoinGlass shows $2.53 billion worth of liquidations during that span—$2.41 billion of which were long positions, or bets that an asset's price would go up. Ethereum makes up nearly half of the total carnage with $1.14 billion worth of positions liquidated, with Bitcoin up next at $765 million. Bitcoin traders on prediction market Myriad—which is owned by Decrypt 's parent company, Dastan—have flipped bearish on the top asset, currently penciling in a nearly 65% chance that BTC will fall to $69,000 sooner than it can rebound to $100,000. Those odds have grown by 22% over the last day. Saturday's crypto market dive follows a week of volatility for markets, driven by factors including fears over a potential U.S. government shutdown—which came to pass via a partial shutdown that began early Saturday—along with fears that a potential bubble for AI investments is ready to pop. Nearly $1.5 billion worth of assets left U.S. spot Bitcoin ETFs over the last week, according to data from Farside Investors , demonstrating investors' moves away from risk-on assets. Ethereum ETFs shed $327 million worth of assets during the same span. Precious metals gold and silver surged to new all-time high prices this week as the risk-off attitude grew, though both metals fell sharply on Friday , with silver diving more than 31% during Friday's U.S. trading day. Daily Debrief Newsletter Start every day with the top news stories right now, plus original features, a podcast, videos and more. Your Email Get it! Get it!