Crypto markets stabilize after a 24-hour sell-off wiped out over $1 billion in leveraged positions, pushing Bitcoin to $60,204.
Bitcoin traded near $60,204, down 2.40%, following a sharp sell-off that triggered $1 billion in crypto liquidations over the past day. Ethereum fell 5.04% to $1,568, contributing to a broader market decline amid extreme fear levels, with the Fear & Greed Index at 13.
The total crypto market cap stood at $2.16 trillion, with Bitcoin dominance at 55.9%. Altcoins underperformed, as Tether’s market cap surpassed Ethereum’s, reflecting investor caution. A $13 billion paper loss in a single strategy highlighted the depth of the rout.
Small-cap tokens saw mixed moves, with MiL.k surging 59.5% while most assets remained under pressure. Funding rounds continued, including a $288 million M&A deal for Bitbank backed by SBI Group.