{"id":30383,"date":"2026-06-23T13:18:30","date_gmt":"2026-06-23T12:18:30","guid":{"rendered":"https:\/\/investx.fr\/en\/2026\/06\/23\/crypto-crash-700-million-liquidated-bitcoin-eth-xrp-altcoins\/"},"modified":"2026-06-23T13:18:33","modified_gmt":"2026-06-23T12:18:33","slug":"crypto-crash-700-million-liquidated-bitcoin-eth-xrp-altcoins","status":"publish","type":"post","link":"https:\/\/investx.fr\/en\/crypto-news\/crypto-crash-700-million-liquidated-bitcoin-eth-xrp-altcoins\/","title":{"rendered":"Crypto Crash: Over $700 Million Liquidated in 24 Hours on Bitcoin, ETH, XRP and Altcoins"},"content":{"rendered":"\n

The crypto market is undergoing a brutal correction<\/strong>. In less than 24 hours, more than $700 million worth of positions have been liquidated<\/strong> across major digital assets, while the total market capitalization<\/strong> has shed over $100 billion.<\/p>\n\n\n\n

Bitcoin<\/strong> has broken below a major technical threshold, altcoins are collapsing in a cascade, and selling pressure shows no signs of letting up. Here is what the data reveals about the true scale of this move.<\/p>\n\n\n\n

A warning signal traders cannot afford to ignore: the 200-WMA<\/strong> has just given way.<\/p>\n\n\n\n

Bitcoin Loses Key Support: The 200-WMA at $62,000 Breaks Under Pressure<\/h2>\n\n\n\n

Bitcoin<\/a><\/strong> has broken below the 200-week moving average (200-WMA)<\/strong>, currently sitting around $62,000<\/strong>. This level is historically regarded as the ultimate floor of bull market cycles<\/strong> \u2014 its breach represents a first-order bearish signal<\/strong> for on-chain analysts and technical traders alike.<\/p>\n\n\n\n

This breakdown is occurring against a backdrop of heavy selling volume<\/strong>, with CoinGlass<\/strong> data confirming massive liquidations<\/strong> on long positions. The futures market absorbed the brunt of the shock: leveraged traders were swept out by a wave of cascading stop-losses<\/strong>, mechanically amplifying the price decline.<\/p>\n\n\n\n

On TradingView<\/strong>, BTC<\/strong> price action is displaying a deteriorating market structure<\/strong>: successive highs and lows are now printing lower, signaling a short-term trend reversal<\/strong>. The $58,000 to $60,000<\/strong> zone represents the next significant structural support<\/strong> to watch.<\/p>\n\n\n\n

Altcoins in Freefall: ETH, XRP, SOL, HYPE and DOGE Caught in the Storm<\/h2>\n\n\n\n

The contagion<\/strong> is spreading across the entire market. Ethereum<\/a>, XRP<\/a>, Solana, Hyperliquid (HYPE) and Dogecoin<\/strong> are among the assets hit hardest by liquidations over the past 24 hours. The high correlation<\/strong> between Bitcoin<\/strong> and altcoins during periods of stress amplifies losses across the portfolios of exposed investors.<\/p>\n\n\n\n

Aggregated liquidation data on CoinGlass<\/strong> shows that the majority of force-closed positions were longs opened during the most recent rally<\/strong>. This phenomenon, a classic feature of market reversals, reflects an excess of leverage<\/strong> built up during the preceding bullish phase \u2014 an imbalance the market is now correcting violently.<\/p>\n\n\n\n

Lower-profile assets such as ZEC (Zcash)<\/a> and SPCX<\/strong> have also seen notable liquidations, a sign that selling pressure is not confined to crypto blue chips<\/strong>. In this type of market configuration, market sentiment<\/strong> shifts rapidly toward extreme fear, as reflected in the deterioration of the Fear & Greed Index<\/strong>.<\/p>\n\n\n\n

What On-Chain Data Says About the Next Move<\/h2>\n\n\n\n

Beyond the liquidations, on-chain metrics<\/strong> deserve close attention. Bitcoin losing the 200-WMA<\/strong> is no trivial event: historically, this level has served as an entry point for long-term holders (LTH)<\/strong>. A weekly close below this threshold would significantly alter the macro outlook for the months ahead.<\/p>\n\n\n\n

Exchange inflows<\/strong> have increased over the past few hours according to CryptoQuant<\/strong> data, indicating potential additional selling pressure<\/strong> in the near term. Until this flow reverses, the probability of a sustained recovery remains limited.<\/p>\n\n\n\n

The real question for traders now is this: is this a healthy correction<\/strong> within a still-intact bull cycle, or a major trend reversal<\/strong>? The answer will largely depend on Bitcoin’s<\/strong> ability to quickly reclaim the $62,000 zone<\/strong> and on how buying volume<\/strong> responds at the key support levels identified ahead.<\/p>\n\n\n\n

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