Crypto Markets See $162 Billion Drop Amid Heavy Liquidations

Global crypto markets plunged as leveraged positions were liquidated en masse, wiping out over $160 billion in value. Bitcoin and Ethereum led the slide, while smaller altcoins like XRP and Solana saw amplified losses. Traders flagged over-extension and looming token unlocks as triggers of the sell-off. Institutional demand, though weakened, provided some buffer. Sentiment turned sharply cautious as volatility spiked and support levels were breached across multiple chains.