Crypto Markets Lose $200B as BTC, ETH and XRP Plunge on Saturday
Major cryptocurrencies plunged on Saturday, erasing roughly $200 billion from the total crypto market cap. Bitcoin (BTC) crashed to just above $75,000 — its lowest level since April 2025 — falling about $20,000 in under two weeks and trading around $79,000 after a partial rebound. BTC dominance sits near 57.4% and market cap dipped below $1.6 trillion. Ethereum (ETH) dropped from about $2,800 to $2,250, while XRP hit a 14‑month low near $1.50. Other altcoins also suffered double‑digit intraday declines (SOL -9%, XMR -10%; LTC, SUI, LINK, DOGE down ~5%). The sell‑off followed volatile macro cues: the Fed pausing rate cuts after the FOMC meeting and escalating Middle East tensions involving US Navy movements closer to Iran. Short‑term liquidations and risk‑off positioning amplified losses; a modest rebound reduced some intraday drawdowns but overall market sentiment turned risk‑off. Key takeaways for traders: heightened short‑term volatility, potential for continued downside or fast rebounds on liquidity events, and a renewed flight to BTC dominance amid altcoin underperformance.
Bearish
The article describes a rapid, broad-based sell-off that removed ~$200B from crypto market cap, led by a sharp BTC drop to $75K and large ETH and XRP declines. Immediate drivers include macro policy signals (Fed pausing rate cuts) and geopolitical escalation in the Middle East — both classical catalysts for risk-off behavior. BTC dominance rising to ~57% indicates capital rotating from alts into BTC or cash, a defensive pattern. Historical parallels: similar large intraday drawdowns occurred during liquidity shocks (e.g., March 2020 COVID crash, May 2021 altcoin rout) where short-term liquidations and leveraged positions amplified moves. For traders this implies elevated downside risk in the near term — higher probability of continued volatility, forced liquidations, and altcoins underperforming BTC. Technical levels may see quick re-tests and rebound attempts, but until macro risk eases and liquidity stabilizes, sentiment is negative. Over the medium-to-long term the event may present buying opportunities, particularly in high-conviction assets, but only after volatility cools and clear support/resilience appears. Risk management (reduced leverage, wider stops, position sizing) is advised.