A surge of liquidations has wiped off $620.5 million in the last day, causing the cryptocurrency market to start the week with a steep decline.
The main cause of the sell-off was the sharp drop in the price of Bitcoin (BTC), which fell to as low as $80,000 over the weekend. The abrupt decline sparked Widespread margin calls, which pushed traders out of leveraged positions and increased market volatility.
Crypto market hit by $620M liquidation wave
Coinglass data indicates that there was a significant shakeout in the cryptocurrency market during the last day, with 225,381 traders liquidated.
Losses from long bets were the largest, at $529.4 million. In the meantime, $91.1 million was liquidated from short positions.
Bitcoin took the lead in the liquidation, wiping away $239.5 million in assets. Long traders who were caught off guard by the market decline and caused forced sell-offs contributed $205.6 million. Binance saw the greatest single liquidation order, wiping away a $32.0 million BTC/USDT stake.
In the most recent X (previously Twitter) article, analyst Ash Crypto emphasized the seriousness of the ongoing market turbulence.
WOWWW!! THIS IS CRAZYYY 🤯
$620,000,000 WORTH OF CRYPTO
POSITIONS WERE LIQUIDATED IN
THE LAST 24 HOURS.BITCOIN LONG LIQUIDATIONS IN
ALL EXCHANGES EXCEEDS 3AC,
CELSIUS AND FTX COLLAPSE. pic.twitter.com/mVjiGMqP4p— Ash Crypto (@Ashcryptoreal) March 10, 2025
Yesterday, Bitcoin’s long liquidations jumped to 14,714 according to data from CryptoQuant. In contrast, 1,807 BTC was sold at the FTX collapse, 1,311 BTC during the Three Arrows Capital (3AC) breakdown, and 13,453 BTC were liquidated after the Celsius crisis.
The surge of liquidations coincides with Bitcoin’s market problems and further downward pressure. In contrast to what was anticipated, the Strategic Bitcoin Reserve executive order issued by President Donald Trump caused a precipitous drop in the value of Bitcoin.
In addition, the market became even more unpredictable as the slump deepened and recession worries increased.
An ugly start to the week. Looks like $BTC will retest $78k. If it fails, $75k is next in the crosshairs. There are a lot of options OI struck $70-$75k, if we get into that range it will be violent. pic.twitter.com/q4cq0rthGJ
— Arthur Hayes (@CryptoHayes) March 9, 2025
Market plunge forces crypto whales into liquidation chaos
The industry as a whole was affected by the decline in Bitcoin’s price. The whole value of the cryptocurrency market fell by $148 billion. Ethereum (ETH), which had liquidations totaling $108.5 million, was the second most impacted asset. According to BeInCrypto statistics, ETH was trading at $2,062 at the time of writing, down 5.3% from the previous day.
Whale pressure has increased as a result of the crisis, and some are now at risk of large liquidations. A whale with 65,675 ETH (worth $135.8 million) on Maker is about to go out of business, according to Lookonchain statistics.
Given that the whale’s health rate has fallen to 1.05 and that the liquidation price is set at $1,931, there may be forced sell-offs if ETH keeps down.
The investment portfolio of World Liberty Financial (WLFI) has also seen significant losses, according to an on-chain analyst. Initially, the company had made nine token investments totaling $336 million. However, the value of the portfolio has dropped to $226 million, representing a loss of $110 million.
Ethereum is the most impacted asset, accounting for 65% of the whole portfolio. Since ETH is currently selling at about $2,000, the DeFi initiative has lost 37% of its initial investment, or $80.8 million. The average purchase price of ETH was $3,240.
According to OnchainLens, a whale has expanded long positions in a number of assets, including Bitcoin, Ethereum, Solana (SOL), and dogwifhat (WIF), despite the chaos.
Trump portfolio loses $100M due to crypto market crash: Was crypto better before?
Another crypto market meltdown cost Donald Trump $110 million from the WLFI crypto fund. Did crypto outperform him?
The cryptocurrency market has always been volatile, but the most recent meltdown has once again shown how unpredictable digital assets can be. In the previous 24 hours, $619 million has been liquidated from the market under the existing conditions. But given that the market continues to decline despite recent improvements, some are starting to wonder if cryptocurrency was better before Donald Trump.
Donald Trump portfolio takes a $110M hit amid crypto market crash
Trump’s cryptocurrency venture, World Liberty Financial’s portfolio, has suffered a significant setback, according to Arkham Intelligence data. The portfolio has lost $110 million in the midst of the continuing crypto market meltdown. Furthermore, Donald Trump lost 13% of the value of his own cryptocurrency holdings.
It’s interesting to note that the Ethereum price issues caused the biggest decline, accounting for 65% of the loss. The other altcoins also suffered a great deal, which demonstrated how bad the market is.
According to sources, $619 million has been liquidated in the past day, bringing the global cryptocurrency market capitalization down to $2.7 trillion, the lowest level since Trump’s election victory.
Crypto market crash: The Trump effect on crypto
Donald Trump’s attitude on cryptocurrency has improved the industry. There were notable highs and lows in the cryptocurrency market. Beginning with Trump declaring a U.S. Strategic Crypto Reserve, hosting the Crypto Summit, Bitcoin’s price reaching all-time highs, investors’ growing faith in the sector, and much more.
These incidents highlight current trends and Trump’s impact on the cryptocurrency industry. Prior to this, the crypto business was fighting against more stringent laws rather than advancements. There will be more favorable alignments for the sector with the Crypto Summit.
Donald Trump crypto move: A risky precedent?
Analysts have identified a number of hazards associated with creating a government-backed reserve, despite the high level of optimism around the U.S. Strategic Reserve. In a contentious post, one of the co-founders of Solana asserts that it goes against the principles of decentralization, while the others add that it may lead to government influence of the market.
They might also influence policies to their advantage, which could lead to corruption risk, asset favoritism, regulatory capture, and many other issues.
Peter Schiff, a crypto opponent, even made fun of Trump’s Bitcoin Reserve, saying he is starting one himself. These occurrences demonstrate the differing opinions of investors on these Trump events, which led to the collapse of the cryptocurrency market.
Was crypto better before Donald Trump?
Crypto has experienced both highs and terrible lows since Trump’s political comeback. His crypto policies have raised volatility even if their goal is to establish the US as the crypto capital. Concerns about ethics are also growing, with many people doubting Trump’s impact.
Few skeptics think the market was better earlier, given the several instances of cryptocurrency market crashes before Donald Trump took office. This is a conditional assertion, though, and the future appears bright given that the President of the United States may encourage international adoption and regulation of cryptocurrency.
Will Dogecoin price see strong rebound after 270% surge in active addresses?
Analysts advise keeping the price of Dogecoin above the $0.16 mark, as this might lead to a recovery and possibly propel DOGE to $2.74 or higher.
The price of Dogecoin has also fallen more than 9% today, testing its critical support levels at $0.16, amid the wider slump in the cryptocurrency market. On-chain activity, however, indicates that with the 270% increase in active addresses over the past day, DOGE’s upward momentum may soon return. Additionally, the DOGE whale activity has increased, suggesting that major players are purchasing dips and suggesting a possible future recovery.
Dogecoin price rebound ahead?
A crucial support level for DOGE has been identified by cryptocurrency expert Ali Martinez as it gets closer to the lower limit of its current price channel. Martinez asserts that in order for the cryptocurrency to retain momentum and maybe spur a robust comeback, it is imperative that a position be held above $0.16.
The price of Dogecoin (DOGE) is currently down 9.29% at $0.1726, but its daily trading volume has increased by 115% to over $2.01 billion as of this writing. Additionally, according to Coinglass statistics, 24-hour liquidations have soared to $21 million, while open interest has fallen 12.91% to $1.45 billion.
Analyst Ali Martinez previously said that a rally toward $2.74 or perhaps $6.24 might be triggered if bulls are able to stay above the DOGE support levels of $0.16.
DOGE active addresses and whale activity
Market analysts are optimistic due to positive on-chain developments, even if the price of Dogecoin is expected to decline when the cryptocurrency market as a whole corrects. An important development for DOGE is that the number of active addresses on the network has increased from 71,750 to 264,000, a 270% increase in just one day.
However, it has been revealed that the biggest whales on the Dogecoin network have amassed 1.7 billion DOGE in the last 72 hours. This enormous accumulation highlights the increased activity and interest in the meme coin and raises the possibility that large players are poised for the next big move. The Dogecoin wallet addresses have also increased to an all-time high, suggesting that momentum will continue to grow.
Key demand zones for DOGE
Potential demand zones where DOGE may stabilize in the face of strong selling pressure have been described by pseudonymous analyst “TheGift94.” Three “buying demand zones” that are crucial to the meme coin’s price movement were found by the analyst in a recent TradingView research. Dogecoin’s price dropped 13% yesterday, finishing at $0.1678, breaking through the first support zone at $0.20.
The expert also pointed out that $0.16 and $0.13 are two more zones that may serve as support levels. As possible turning points for the meme coin, these levels are now being actively watched.
