Crypto Market Loses $130 Billion as Bitcoin Slump Triggers $1.71 Billion in Liquidations

• The total market capitalization of cryptocurrencies fell by $130 billion, and major coins including Bitcoin posted steep weekly losses.
• About $1.71 billion in liquidations hit the market over the past 24 hours, with long positions accounting for 80.2% as investor sentiment slid into 'extreme fear.'
• Net outflows from U.S. spot Bitcoin ETFs and a decline in stablecoin market capitalization reduced liquidity and intensified selling pressure, with a recovery in buying demand needed to prevent further losses.

Forecast Trend Report by Period

The cryptocurrency market tumbled over the weekend, wiping out $130 billion in total market value and triggering a wave of forced liquidations.

According to Bitcoin.com on Nov. 15, the total crypto market capitalization fell by $130 billion from Nov. 13 to $2.19 trillion. Bitcoin dropped as low as $61,947 intraday before rebounding to the $64,000 range, but it was still down 14.5% over the past week.

Major altcoins also came under pressure. XRP broke below the closely watched $1 psychological support level and fell as low as $0.8922 intraday. Over the past seven days, Zcash fell 29.7%, Solana lost 19.8%, Ether dropped 19%, and XRP declined 17.4%.

The price slump triggered another round of liquidations. CoinGlass data showed that as of 11 a.m. Eastern time on Nov. 15, about $1.71 billion in crypto futures positions had been liquidated over the previous 24 hours. Roughly 260,000 traders were affected. Long-position liquidations totaled $1.37 billion, accounting for 80.2% of the overall figure.

Bitcoin-related liquidations came to about $690 million, while Ether liquidations totaled about $400 million. Investor sentiment also deteriorated sharply. The Crypto Fear & Greed Index fell to 10, pushing the market into the "extreme fear" zone.

Institutional money outflows added to the downward pressure. SoSoValue data showed U.S. spot Bitcoin exchange-traded funds recorded net outflows of about $2.97 billion over 12 trading sessions from Oct. 29 to Nov. 13. Only two sessions during that period posted net inflows, and $1.07 billion exited in the most recent week alone.

Market liquidity is also shrinking. DefiLlama data showed total stablecoin market capitalization stood at $284.85 billion as of Nov. 14, down about $26.15 billion from its May peak of $311 billion. The decline over the past 30 days reached 5.36%.

Bitcoin.com said outflows from spot ETF products and a decline in stablecoin supply combined with thinner weekend trading volumes to amplify selling pressure. While Bitcoin has rebounded somewhat from its low, buying demand needs to recover to prevent further declines.

Suehyeon Lee