The cryptocurrency market lost a record $ 200 billion per day

Over the past day, the cryptocurrency market has suffered a serious collapse, losing almost $ 200 billion. The total capitalization dropped below 3.1 trillion, the lowest level since mid-November 2024. Industry experts warn that if the market falls below 3 trillion, there is a risk that the current bullish trend will end.

According to Coinglass, more than 314 thousand traders have been liquidated in the last 24 hours, with total losses exceeding $ 1 billion. Most of the liquidations were on long positions, and the largest single order closure occurred on BitMEX, a $ 10 million deal in bitcoin. The value of Bitcoin BTC $82,930.15 Bitcoin -1.50% Market capitalization $1.65 trillion VOL. 24 hours $0.89 billion fell by 5%, from $ 96,000 to $ 91,000, the lowest since mid-January. During the Asian session, the market found support at $ 91,500.

Ethereum ETH $1,782.31 Bridged Ether (StarkGate) -1.38% Market capitalization $0.16 billion VOL. 24 hours $0.38 billion also suffered a serious blow, losing 10% and falling below $ 2,500. The situation with altcoins is even worse: Solana BTC $82,930.15 Bitcoin -1.50% Market capitalization $1.65 trillion VOL. 24 hours $0.89 billion has fallen by more than 50% over the past month following the collapse of the meme bubble. Chainlink, Avalanche, Sui, and Hyperliquid are also showing double-digit percentage losses.

Against this backdrop, the Bitcoin Fear and Greed Index fell to 25, which corresponds to «extreme fear» — the lowest level since September. However, analysts remain calm, reminding us that such collapses have already happened before. For example, the market experienced similar falls on December 9 (-7.5%), December 19 (-10%), January 7 (-7.5%), and February 2 (-8%).

Macro investor Raul Pal noted that such corrections are normal for the cryptocurrency market and have been observed in previous cycles. This suggests that, despite the temporary panic, the market may recover, as it did in the past.