Crypto Meltdown Deepens: $90B Vanishes in an Hour as Traders Face $1.3B in Forced Liquidations

The crypto market has been rocked by a major sell-off, with over $90 billion in value disappearing in a single hour. This sharp correction has triggered more than $1.3 billion in forced liquidations as leveraged positions were wiped out across exchanges. The downturn was led by a plunge in Bitcoin (BTC), which plummeted below $105,000, extending losses that began late last week. Other major cryptocurrencies like Ethereum (ETH), Solana (SOL), and XRP followed suit, all suffering double-digit percentage drops. The sudden crypto meltdown has left investors reeling, as the market grapples with a confluence of bearish factors. Concerns over rising inflation, impending interest rate hikes, and geopolitical tensions have all contributed to a broader risk-off sentiment, driving traders to shed their cryptocurrency holdings. The scale of the liquidations underscores the vulnerability of overleveraged positions in the volatile crypto space. As leveraged traders were forced to close their positions, it exacerbated the selling pressure, leading to a downward spiral that erased billions in market capitalization. The implications of this crypto crash could be far-reaching, shaking investor confidence and potentially deterring new entrants to the market in the short term. However, seasoned crypto enthusiasts may view this as an opportunity to accumulate their favorite digital assets at discounted prices. As the market navigates this turbulent period, analysts will be closely monitoring the potential formation of a rare chart pattern that previously led to an 87% price crash in XRP. Navigating the crypto landscape during times of heightened volatility will require a cautious and well-informed approach from investors.