$BTC CRYPTO BLOODBATH: $500 BILLION ERASED AS LEVERAGE IMPLODES
The crypto market just went through a full-scale liquidation purge — and the damage is brutal. In just 3 days, over $500 BILLION has been wiped from total market capitalization, while $5 BILLION in leveraged longs and shorts were forcibly liquidated as volatility spiraled out of control.
At the center of the storm, Bitcoin plunged −13%, erasing nearly $265B from its market cap alone. Ethereum was hit even harder, collapsing −25% and deleting $91B in value. High-beta majors didn’t stand a chance: Solana crashed −23% (−$16B), while $XRP sank −22%, wiping out $24B.
This wasn’t news-driven. It was leverage-driven. Thin liquidity, crowded positioning, cascading margin calls — once the first domino fell, the rest followed fast.
Crypto isn’t rotating. It’s deleveraging.
The question now isn’t how bad it got… but whether this was capitulation — or just the beginning of a deeper reset.
