What's Next as Bitcoin, ETH, SOL, XRP Drop 6-10%, Bulls See Massive $1.6B Liquidations

Bitcoin slid to just above $100,000 before a slight rebound, as over $2 billion in futures contracts were liquidated in 24 hours, with long traders losing $1.6 billion. This deleveraging event, one of the largest since September, followed sharp drops across major cryptocurrencies, including Ether (down 10%), Solana (down 8%), and XRP (down 5-6%). The downturn was attributed to a broader risk-off sentiment in financial markets, concerns over potential Federal Open Market Committee (FOMC) actions, tariffs, and credit conditions. Analysts, like Gerry O'Shea of Hashdex, noted that while the $100,000 level is psychologically important, the long-term investment case for Bitcoin remains constructive, though the market faces testing sessions to determine if a sustained recovery is possible.

(Source：CoinDesk)