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 $62,744.42 Bitcoin -1.95% Market capitalization $1.26 trillion VOL. 24 hours $0.82 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 $1,869.68 Ethereum -1.43% Market capitalization $225.64 billion VOL. 24 hours $0.23 billion - $ 2,001, XRP XRP $1.00 XRP -0.59% Market capitalization $62.89 billion VOL. 24 hours $46.05 million - $ 1.33, and Solana SOL $75.29 Solana -1.56% Market capitalization $43.87 billion VOL. 24 hours $79.13 million - $ 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.