Cryptocurrency market liquidations amounted to $ 450 million per day

The crypto market suffered a sharp blow in late March: the massive closure of bitcoin options BTC $76,137.96 Mezo Wrapped BTC 0.68% Market capitalization $0.1 billion VOL. 24 hours $1.73 billion coincided with outflows from ETFs and geopolitical pressure, leading to liquidations of more than $ 450 million and a drop in the price of BTC to key support levels.

on March 27, the Deribit exchange held the largest quarterly expiry in 2026 — by $ 14.16 billion. This reduced almost 40% of open positions and triggered a wave of forced sales. Bitcoin fell by 5% to $ 65,720 overnight before stabilizing at $ 66,457. The liquidation affected more than 122 thousand traders.

The pressure was exacerbated by external factors. Iran threatened to blockade the Bab el-Mandeb Strait, while the Strait of Hormuz has remained closed since February. This pushed oil above $ 100 per barrel and forced investors to abandon risky assets. At the same time, bitcoin ETFs lost $ 171 million and Ethereum ETFs lost $ 92.5 million, which was the seventh consecutive negative session.

As of March 30, bitcoin was trading at $ 66,457, Ethereum ETH $2,356.26 Bridged Ether (StarkGate) 0.06% Market capitalization $44.47 million VOL. 24 hours $1.17 billion - $ 2,001, XRP XRP $1.44 XRP -0.71% Market capitalization $88.38 billion VOL. 24 hours $0.23 billion - $ 1.33, and Solana SOL $86.81 Binance-Peg SOL -1.58% Market capitalization $95.24 million VOL. 24 hours $0.36 billion - $ 83.10. All assets showed a weekly drop of 6−8%. BTC lost support at $ 67,000, and ETH dropped below $ 2,000 for the first time since mid-2024. Solana was under the most pressure, down more than 70% from its peak.

Analysts believe that recovery is possible only if external changes occur, such as a decrease in geopolitical tensions or a drop in oil prices. The key level for bitcoin remains $ 66,000: holding above it may signal the return of buyers, while a breakdown will open the way to $ 52−57 thousand.