In the early hours of a seemingly ordinary day, the crypto market found itself in a state of disarray, as if the heavens had opened up and unleashed a torrent of chaos. An unexpected airstrike by Israel on Iran sent shockwaves through the global financial landscape, dragging digital assets down into the abyss.
Within mere hours, a staggering $1.15 billion in crypto liquidations vanished into thin air across major exchanges. Bitcoin, that once-mighty titan, plummeted below $104K, but it was not alone in its descent. Altcoins, those fickle companions, suffered even greater losses as the geopolitical tremor morphed into a full-blown market rout.
Solana (SOL)
Ah, Solana, the once-proud warrior of the crypto realm, now lay battered and bruised. It suffered a catastrophic drop of over 9%, landing at a mere $144.47, erasing $52.56 million in open positions. Of that, a staggering $46.14 million belonged to long trades—those optimistic souls who dared to bet on the upside, only to find themselves utterly wrecked. 😱
The market cap, once a robust $75.97 billion, now felt the weight of despair, while the 24-hour trading volume surged to $5.71 billion, a 21% increase that screamed of panic. What began as a sharp dip spiraled into a full liquidation cascade, particularly for those high-leverage plays. Talk about a rollercoaster ride! 🎢
Dogecoin (DOGE)
Even the beloved Dogecoin, that cheeky memecoin, was not spared from the carnage. It tumbled 9.20% to $0.1733, with around $26.14 million liquidated in just 24 hours. Long positions took the brunt of the hit, totaling $24.44 million. Just when it seemed like Dogecoin was staging a comeback, the crash sent it spiraling back down faster than a meme can go viral. 🐶💔
The market cap now stands at $25.94 billion, while the 24-hour trading volume skyrocketed to $1.87 billion as traders scrambled to cut their losses. The same retail crowd that once rallied behind it now found themselves on the other side of the trade, forced to sell in a frenzy.
Sui (SUI)
Sui, the underdog, took one of the sharpest hits in percentage terms, plummeting nearly 11% to a mere $3. Over $13.4 million worth of positions were liquidated, with $12.6 million of them being longs. Sui had been on a bit of a roll before the crash, but its thin order books made it particularly vulnerable. Talk about a classic case of “too good to be true!” 😅
Its market cap dropped to $10.19 billion, and trading volume surged by 79% to $1.66 billion as traders scrambled to escape the collapsing setups. It’s the kind of altcoin that thrives when risk is on, but sinks like a stone when it’s not.
Litecoin (LTC)
Litecoin, the quiet observer in the crypto storm, also found itself caught in the tempest. It dropped 7% to $83.48, with $4.13 million in liquidations. Most of it, $4.04 million, came from long positions. Litecoin had been stable in recent weeks, but once the broader market turned red, it followed suit like a loyal puppy. 🐕🦺
Volume increased by 14.07% to $522.97 million, and the market cap now stands at $6.34 billion as LTC holders rushed to reduce their exposure.
Pi Network (PI)
Pi Network, often overlooked, was not immune to the chaos. It experienced a brutal 13.82% drop, now priced at $0.5455. The token saw a massive surge in activity, with 24-hour volume spiking by over 250%, reaching $213.35 million. That kind of volume spike, coupled with a double-digit price drop, is a clear signal of panic. 😳
The 24-hour trading volume currently stands at $212 million, a staggering 258% increase, while the market cap dropped to $4.06 billion as traders dumped positions in fear of deeper losses.
This crypto market crash was not a mere technical glitch; it was a raw, geopolitical upheaval spilling into the digital asset realm. After the strike, oil prices began to climb, gold spiked, and risk assets tanked. JPMorgan quickly warned that oil could hit $120 if the conflict escalates, potentially pushing U.S. inflation back up to 5%. Just what we needed—more uncertainty! 🙄
More than 247,000 traders were liquidated in this crash. The single largest liquidation occurred on Binance: a BTCUSDT position worth over $201 million. Long traders across the board were wiped out, leaving the total crypto market cap down nearly 5% in a single day, now sitting at $3.23 trillion.
This is what a real crypto market crash looks like: fast, unexpected, and brutal. No warning. No time to react. Just fear, volume spikes, and liquidation charts lighting up like a Christmas tree. 🎄
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2025-06-13 11:54