Bitcoin dropped 3.8% to $63,038 and Ethereum fell 9% following coordinated US-Israel military strikes on Iran's nuclear and military facilities. Over 152,000 crypto traders were liquidated totaling $515 million as digital assets absorbed weekend panic selling while traditional markets remained closed.
XRP experienced significant bearish pressure with bulls facing a massive 1,058% liquidation imbalance, indicating heavy long position closures. The extreme liquidation ratio suggests strong selling pressure and potential continued downward momentum for XRP's price.
Bitcoin's funding rates have dropped to -6%, indicating heavy short positioning in derivatives markets. Combined with rising open interest and liquidations, this setup suggests potential for a short squeeze if the market moves against bearish positions.
XRP has formed a death cross pattern on its hourly chart, coinciding with over $515 million in cryptocurrency liquidations across the market in the past 24 hours. This technical indicator suggests potential further downside for XRP amid broader crypto market selling pressure.
Bitcoin's drop below $66,000 triggered $267 million in crypto liquidations over the past day, with $190 million specifically from long positions. This mass liquidation event caught leveraged traders off guard as the market experienced a significant pullback.
Ethereum's Net Taker Volume hit record negative levels in February, indicating severe liquidation-driven selling from $3,300 to $1,850 levels. While ETH attempts to stabilize around $2,000, the technical structure remains bearish with price below all major moving averages and $1,850 serving as a critical support level.