|

Altcoins lead crypto market crash as liquidations hit $73 million

  • Bitcoin price has dropped for third consecutive day, triggering a flurry of liquidations.
  • The total liquidations in the last 24 hours hit nearly $73 million.
  • Altcoins like Bitcoin SV, Bitcoin Cash and Aave are leading the collapse.

Bitcoin (BTC) price shot up nearly 10% between September 27 and October 2 and created a local top at $28,613. This move caused many altcoins to pause their downtrend and trigger a bullish breakout, but the last two days have proven that investors need to be cautious. 

Also read: Bitcoin Weekly Forecast: BTC recovery rally could be bull trap in disguise, here’s why

Crypto market takes a hit 

The sudden spike in Bitcoin (BTC) price was no doubt alluring, but the sudden reversal knocked BTC down by 5.21%. This caught greedy bulls off guard, leading to liquidations worth $73 million in the last 24 hours, according to CoinGlass. 

Crypto liquidations 

Crypto liquidations 

Investors panic-sell altcoins

Bitcoin SV (BSV) price has shed nearly 10% in the last 24 hours, followed by Aave (AAVE) and Bitcoin Cash (BCH), which have lost 7% and 5.60%, respectively. 

Also read: Bitcoin SV price rises by 30% in a day as CEO resigns amid controversy

Out of the $73 million liquidations, only $11.28 million came from Bitcoin longs, while the rest of the liquidations came from altcoins.

With a disappointing start to the first Ethereum futures ETF, it makes sense that ETH liquidations hit a whopping $6.77 million. 

Read More: Ethereum ETFs fail to live up to hype: combined trading volume amounts to just $1.7 million

Author

Akash Girimath

Akash Girimath is a Mechanical Engineer interested in the chaos of the financial markets. Trying to make sense of this convoluted yet fascinating space, he switched his engineering job to become a crypto reporter and analyst.

More from Akash Girimath
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is.  Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).

Sberbank issues Russia's first corporate loan backed by Bitcoin

Russia's largest bank Sberbank launched the country's first Bitcoin-backed corporate loan to miner Intelion Data. The pilot deal uses cryptocurrency as collateral through Sberbank's proprietary Rutoken custody solution.

Bitcoin recovers to $87,000 as retail optimism offsets steady ETF outflows

Bitcoin (BTC) trades above $88,000 at press time on Tuesday, following a rejection at $90,000 the previous day. Institutional support remains mixed amid steady outflow from US spot BTC Exchange Traded Funds (ETFs) and Strategy Inc.’s acquisition of 1,229 BTC last week.

Traders split over whether lighter’s LIT clears $3 billion FDV after launch

Lighter’s LIT token has not yet begun open trading, but the market has already drawn a sharp line around its valuation after Tuesday's airdrop.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.