Bitcoin, XRP, Solana, Ethereum crash burns 236,512 traders.

As was to be predicted, the pioneer cryptocurrency asset was unable to sustain its run and started to steadily lose value. With notable price declines for XRP, Solana, Ethereum, and Doge, the altcoins fell considerably more.

Tuesday saw Bitcoin reach a peak of $102,000, but due to the strong demand for the safe haven currency, prices fell. Since then, the primary cryptocurrency has lost over $5,000 in a few hours, falling to $95900 on Binance.

According to Coinglass data, 236,512 dealers were liquidated during the day, bringing the total amount of liquidations to $693.07 million. The largest liquidation order, totaling $17.74 million, was placed on Binance for ETHUSDT.

Ethereum has fallen 10% every day and is currently suffering below the critical support-turned-resistance level of $3,350. Comparable percentage declines have seen SOL and XRP fall to less than $195 and $2.3, respectively.

In 2025, cryptocurrency traders retracted their optimistic projections due to the positive U.S. economic statistics. Unexpectedly rising to 8.1 million from 7.8 million the month before, the Bureau of Labor Statistics’ JOLTS job vacancies for November substantially surpassed analyst predictions for a decline to 7.7 million.

At the same time, the ISM Services Purchasing Managers Index, which measures the level of economic activity in the services sector on a monthly basis, showed a December value of 54.1, which was much higher than the November reading of 52.1 and exceeded projections of 53.3. At 64.4, the Prices Paid subindex showed strong performance.

FAQ

What caused the recent crash in Bitcoin, XRP, Solana, and Ethereum prices?

The crash was primarily driven by Bitcoin’s inability to sustain its high price following a peak of $102,000. As Bitcoin dropped by over $5,000 in a few hours, the altcoins like XRP, Solana, and Ethereum also experienced significant declines. Additionally, strong U.S. economic data, including rising job vacancies and improved economic indicators, led to traders retracting their optimistic projections for 2025.

How many traders were affected by the crash?

The recent cryptocurrency crash resulted in 236,512 traders being liquidated. The total liquidation amount reached approximately $693.07 million, with the largest liquidation order being $17.74 million for ETHUSDT on Binance.

Which cryptocurrencies experienced the biggest losses during the crash?

Ethereum (ETH), Solana (SOL), and XRP were among the hardest hit, with Ethereum falling by 10% daily, dropping below the critical support level of $3,350. Solana and XRP also saw significant declines, with Solana falling to below $195 and XRP dipping to under $2.3.

What role did U.S. economic data play in the crash?

Positive U.S. economic statistics, such as rising job vacancies and an improved ISM Services Purchasing Managers Index, contributed to the downturn in the cryptocurrency market. These unexpected data points led traders to reconsider their optimistic projections for 2025, causing a pullback in the market.

Can we expect further declines in cryptocurrency prices?

While the market has experienced significant losses, the future of cryptocurrency prices remains uncertain. The decline could continue if economic data from the U.S. and other macroeconomic factors further impact investor sentiment. Traders should remain cautious and monitor developments closely before making any major moves.