Crypto Market Crash: $1B in Bitcoin, ETH, SOL & Top Altcoins Liquidated Ahead of Options Expiry

Core Insights - The crypto market has experienced a significant crash, with a total market cap decline of $1.35 trillion since October, and $1 billion in liquidations occurring in the last 24 hours across major cryptocurrencies [1][5]. Group 1: Market Performance - Bitcoin (BTC) price has dropped 8% to $85,000, while Ethereum (ETH) has fallen 9% to below $2,800 [1][3]. - Over 252,000 traders have been liquidated, with the largest single liquidation order for BTCUSDT valued at $30.91 million [2]. - In the last 24 hours, approximately $850 million in long positions and $150 million in short positions were liquidated [3]. Group 2: Liquidation Details - The liquidation of $500 million in Bitcoin holdings occurred within the last 24 hours, contributing to the price slump [3]. - The most liquidated cryptocurrencies include BTC, ETH, SOL, XRP, ZEC, HYPE, DOGE, TON, ASTER, and BNB [4]. - SOL's price decreased by 8% to an intraday low of $130.52, while XRP fell over 7% to $1.96 [4]. Group 3: Options Expiry Impact - A $4.2 billion crypto options expiry is expected to add further selling pressure in the current bear market [5][6]. - More than 39,000 BTC options worth $3.4 billion will expire today, with a put-call ratio of 0.52, indicating a bearish sentiment among traders [6]. - Over 185,000 ETH options with a notional value of nearly $525 million are also set to expire, with a put-call ratio of 0.72, reflecting increased bearish positioning [7].