Bitcoin, Ethereum and XRP Sink as Crypto Liquidations Top $900 Million

The post Bitcoin, Ethereum and XRP Sink as Crypto Liquidations Top $900 Million appeared on BitcoinEthereumNews.com. In brief Bitcoin, Ethereum, and XRP all continued a dayslong slump Friday, helping push crypto liquidations over the $900 million mark. The overwhelming majority of those liquidations, over $823 million worth, were of long positions. The downturn was due mainly to macro political and economic factors, including a poor U.S. jobs report, new sweeping global tariffs from the Trump administration, and escalating tensions with Russia. Top cryptocurrencies pushed deeper into the red after a days-long slump Friday, triggering over $900 million dollars in liquidations, as global unrest and a poor U.S. jobs report impacted markets before the weekend.  Bitcoin, which nearly eclipsed $120,000 towards the beginning of the week, has fallen to $113,411 at writing, a drop of roughly 5.6% from the recent peak. Ethereum took a steeper dive in the second half of the week, falling from around $4,000 on Sunday to $3,518 at writing—a 10.5% downturn.  XRP followed a similar pattern, topping $3.32 on Sunday before dropping as low as $2.92 earlier today. The token has since leveled out to $2.98, a 10.2% dip since last weekend.   Those slumps have coalesced to wipe out hundreds of millions of dollars in crypto derivative positions in just the last 24 hours. Some $905 million in positions have been liquidated since last evening, according to data from CoinGlass. The vast majority of those liquidations—over $823 million—were of long positions, or bets that the price would rise. Several factors are likely at play in the latest crypto downturn, all of which relate to macro political and economic factors. On Friday morning, the U.S. Labor Department released a new jobs report that underwhelmed expectations to the degree that President Donald Trump fired the official responsible for publishing the memo within hours of its release. Hours prior, the White House levied a new…

Aug 2, 2025 - 07:00
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Bitcoin, Ethereum and XRP Sink as Crypto Liquidations Top $900 Million

The post Bitcoin, Ethereum and XRP Sink as Crypto Liquidations Top $900 Million appeared on BitcoinEthereumNews.com.

In brief Bitcoin, Ethereum, and XRP all continued a dayslong slump Friday, helping push crypto liquidations over the $900 million mark. The overwhelming majority of those liquidations, over $823 million worth, were of long positions. The downturn was due mainly to macro political and economic factors, including a poor U.S. jobs report, new sweeping global tariffs from the Trump administration, and escalating tensions with Russia. Top cryptocurrencies pushed deeper into the red after a days-long slump Friday, triggering over $900 million dollars in liquidations, as global unrest and a poor U.S. jobs report impacted markets before the weekend.  Bitcoin, which nearly eclipsed $120,000 towards the beginning of the week, has fallen to $113,411 at writing, a drop of roughly 5.6% from the recent peak. Ethereum took a steeper dive in the second half of the week, falling from around $4,000 on Sunday to $3,518 at writing—a 10.5% downturn.  XRP followed a similar pattern, topping $3.32 on Sunday before dropping as low as $2.92 earlier today. The token has since leveled out to $2.98, a 10.2% dip since last weekend.   Those slumps have coalesced to wipe out hundreds of millions of dollars in crypto derivative positions in just the last 24 hours. Some $905 million in positions have been liquidated since last evening, according to data from CoinGlass. The vast majority of those liquidations—over $823 million—were of long positions, or bets that the price would rise. Several factors are likely at play in the latest crypto downturn, all of which relate to macro political and economic factors. On Friday morning, the U.S. Labor Department released a new jobs report that underwhelmed expectations to the degree that President Donald Trump fired the official responsible for publishing the memo within hours of its release. Hours prior, the White House levied a new…

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