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The current crypto market crash wipes out a total of $1.35 trillion in market capitalization since October.
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Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and other top altcoins saw $1 billion in liquidations.
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The $4.2 billion crypto options expiration could add additional selling pressure in this bear market.
The crypto market crash sees no signs of stopping, with $1.35 trillion in market capitalization wiped out since October. Over the past 24 hours, another $1 billion in Bitcoin, Ethereum, Solana, XRP and other top altcoins were liquidated.. BTC price falls 8% to $85,000 and Ethereum falls 9% to levels below $2,800. Will the crypto market face more liquidations due to crypto options expiring on Friday?
The crypto market saw another $1 billion in liquidations across Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and other major altcoins, according to data from Coinglass. More than 252,000 merchants are liquidated, with the largest liquidation order of BTCUSDT valued at $30.91 million on HTX.
BTC price collapses to $85,000 as investors are liquidated 500 million dollars in Bitcoin holdings in the last 24 hours. Notably, over $460 million in long positions were liquidated, causing the price to plummet to a 24-hour low of $85,300.
Over the past 24 hours, nearly $850 million in long positions and $150 million in short positions were liquidated. Notably, $450 million in crypto selloffs took place in the two hours following the release of a strong US jobs report as markets reduced bets on a December Fed rate cut.
BTC, ETH, SOL, XRP, ZEC, HYPE, DOGE, TON, ASTER and BNB are some of the most liquidated crypto assets in the current crypto market crash. SOL price fell 8% to an intraday low of $130.52 and XRP price fell over 7% to $1.96.
The $4.2 Billion Crypto Options expiry today will likely further exacerbate the crypto market crash. Over 39,000 BTC options with a notional value of $3.4 billion will expire today on Deribit. The put-call ratio is 0.52 And the maximum pain price is $98,000.
However, put volume has far exceeded call volume over the past 24 hours, with a put/call ratio of 1.36. This indicates that traders are hedging to offset losses..
Deribit says the positioning does not signal major risk aversion, but traders remain cautious after this week’s sharp market meltdown.
Meanwhile, over 185,000 ETH options with a notional value of nearly $525 million are set to expire today, with a put-call ratio of 0.72. Put volume doubled In the last 24 hours, indicating that traders are bearish. The put-call ratio is 1.01, confirming bearish sentiment.
