Bitcoin fell below $90,000 as major altcoins weakened across spot and futures markets. Rapid liquidations added pressure across several trading pairs.
Crypto prices today pulled back sharply as selling hit Bitcoin and the broader market. Bitcoin moved below $85,000, while Ethereum, XRP and Solana also lost ground in a short period.
The drop in crypto prices created fast shifts in funding rates, open interest and trader positioning, which often tells you more about market stress than price alone.
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Crypto Price Moves In The Last 24 Hours
Bitcoin traded in the $80k to $85k range and slipped about 9% in 24 hours.
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Ethereum posted declines between 5% and 12% depending on the exchange, with some feeds showing prices below $2,700.
XRP hovered just below $2.00 and fell roughly 9%.
Solana dropped about 11% during the session, leaving it about 22% below its recent November peak.
Liquidations picked up across major exchanges, with several hundred million dollars cleared out within the trading day. When liquidations spike this quickly, it usually signals that traders were holding too much leverage in one direction.
Solana saw one of the sharpest reductions in open interest, which suggests traders are stepping back rather than trying to catch the dip. Bitcoin funding rates also turned negative, signaling a shift toward short-leaning positioning, while options markets showed wider put-call skew.
These signals often appear during short periods of uncertainty, not just long-term trend changes.
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What’s Causing The Drop In Crypto Prices?
The market reacted to a heavy build-up of leverage that had been growing during the prior week. Once sell orders hit the tape, the unwinding accelerated because there was less liquidity waiting below.
Bitcoin still has strong interest around the $75,000 region, and Ethereum continues to trade within a $2,000 to $2,700 band that traders watch closely. Short-term sentiment weakened, but the broader structure still looks intact.
What matters next is whether ETF flows stabilize and whether futures funding returns to neutral levels. If those conditions line up, volatility should cool down faster than we expect.
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Conclusion
Volatility is likely to stay elevated for now. Focus on liquidations, funding trends and open interest levels, especially on assets like Solana. Short-term traders handle these swings directly, while long-term holders usually wait for signals that liquidity conditions are improving again.
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