(@adrena1ine.bsky.social)

Altcoins Hit Hard as Week Starts With $1.7 Billion in Crypto Liquidations The crypto market experienced a significant downturn, losing over $151 billion in value as leveraged positions worth more than $1.7 billion were liquidated. Ethereum and Bitcoin suffered the largest losses, with numerous altcoins also experiencing sharp declines. This sell-off was triggered by Bitcoin falling below $113,000, leading to a cascade of automated sell-offs. The event reversed market sentiment, causing the Altcoin Season Index to drop and Bitcoin's dominance to rise. Smaller, speculative tokens were particularly hard-hit, with substantial liquidations of long positions. Despite the steep losses, some analysts view this as a healthy reset, clearing out overleveraged traders to create stronger support for long-term holders. Institutional demand remains strong, evidenced by steady ETF inflows and ETH leaving exchanges for accumulation. The market's immediate future depends on Ethereum holding above $4,100 and Bitcoin stabilizing in the $112,000–$114,000 range. Analysts predict this correction is setting the stage for further upward movement in the bull market. https://www.newsbtc.com/news/altcoins-hit-hard-as-week-starts-with-1-7-billion-in-crypto-liquidations/