Bitcoin crashes to $75,000, sees 10th largest single-day liquidation in history

Crypto losses have deepened across the board. Coinglass data shows Bitcoin down 6.4% to $78,716, while Ethereum is off 9.6% to $2,442, and Solana has dropped 11.3% to $104.86. The entire top 20 is painted red.

Traders watching intraday flows also saw 4-hour declines for BTC at -0.19%, ETH at -0.54%, and SOL at -0.89%. Despite minor 5-minute upticks, these are false bounces so far.

Binance Coin (BNB) has fallen 8.6%, and Dogecoin (DOGE) is down over 9%, now trading at $0.10488. XRP, while slightly more stable, still dropped 4.8% to $1.66.

The bleed isn’t limited to majors. Tokens like PEPE (-9.3%), ZEC (-9.5%), and ADA (-7.5%) are all in freefall. Even “safe” gold-pegged tokens like XAUT and PAXG are slipping, down around 1.3–1.4% each.

Volumes are holding up, with BTC’s 24-hour volume is at $54 billion, ETH at $29.5 billion, and SOL at $6.4 billion, but that’s little comfort as realized losses pile up.

Bitcoin’s selloff deepened during the New York afternoon session, plunging as much as 10% to $75,709.88. Ether dropped up to 17%, while Solana also tanked over 17%, adding more pain across the board.

The latest leg down in crypto is also tied closely to Donald Trump’s decision to tap Kevin Warsh to lead the Federal Reserve.

The pick pushed the U.S. dollar higher, as markets read it as a sign that Fed independence is less likely to be challenged, and that strength in the dollar is weighing directly on Bitcoin’s appeal as an alternative currency.

If confirmed by the Senate, Kevin would replace Jerome Powell, whose term as chair ends in May. Donald has openly criticized Jerome for years, especially over his refusal to cut interest rates aggressively, and those tensions have hung over markets since Jerome took the job back in 2018.

Crypto’s drop is landing at a rough time for retail investors. Just a day earlier, silver saw its worst selloff since March 1980.

Spot silver plunged 28% to $83.45 an ounce, trading near the lows of the session, while silver futures collapsed 31.4% to settle at $78.53. The back-to-back hits across speculative assets have amplified risk-off behavior.

Veteran investor Ray Dalio backed the Fed pick publicly, posting on X that Kevin was a strong choice.

Ray said people with long experience in markets and policy respect Kevin’s judgment, noting that he understands the dangers of both overly loose and overly tight monetary policy, and knows how to navigate relationships with the White House and the Treasury.

Crypto just saw its 10th largest single-day liquidation event ever. Over the past 24 hours, $1.6 billion in long and short positions were flushed, with most of it in the last four hours, and mainly concentrated in Bitcoin and Ethereum.

Bitcoin fell to $76,222, while ETH slipped under $2,400, dragging the market’s total value down by roughly $111 billion, per CoinGecko.

Tom Lee’s Ethereum bet via his Bitmine fund is now sitting on an unrealized $6 billion loss. Meanwhile, MicroStrategy’s massive $MSTR Bitcoin treasury (valued at over $54 billion) is just 3% away from going negative.

Even with the weekend, there’s little sign of dip-buyers so far. Traders are watching whether the $80K–$82K BTC zone holds. But right now, the absence of strong bids is raising fresh doubts about Bitcoin’s actual role in portfolios.

The token hasn’t reacted to gold’s all-time highs, the dollar’s weakness, or even spot ETF approvals. Instead, outflows have continued, geopolitical tensions are rising, and crypto’s “safe haven” narrative is looking shaky.

Israel-Iran tensions are climbing again. Iran’s army chief renewed threats to strike Israel. At the same time, Donald Trump is floating the idea of US military strikes. These headlines would’ve once pushed Bitcoin higher. Now? Not even a blip.