In brief
- Bitcoin dropped below $95,000 per coin on Friday, hitting a six-month low.
- But Ethereum and Solana experienced bigger sell-offs, and $1.36 billion in futures positions were liquidated.
- Some experts think the crypto space is now in a bear market, following recent losses.
Decrypt’s Art, Fashion, and Entertainment Hub.
Discover SCENE
Bitcoin’s price plunged on Friday to below $95,000 for the first time in six months—but the altcoin market fared far worse, and traders who bet on rising prices are getting wiped out due to widespread liquidations.
Ethereum—the second-biggest digital coin—dipped below the $3,100 mark earlier Fridy and was recently trading for about $3,200 after a nearly 7% 24-hour dip. That makes it one of the worst-performing major cryptocurrencies of the day, according to CoinGecko data.
The coin’s price is now more than 35% below its August record of $4,946.
An even bigger loser, though, has been Solana: After dropping more than 8% over a 24-hour period, the coin was priced at $142 Friday morning New York time.
The Solana price dip comes despite solid flows into new exchange-traded funds giving investors exposure to the asset. Since their October 28 debut, the funds have collected money from investors every single day, per data from Farside Investors.
But it hasn’t been enough to sustain the sixth-biggest digital coin’s price. Solana is now more than 52% below its January record of $293.
XRP, the fourth-biggest digital asset, also plunged, shedding about 8% of its value in a day. The coin, which also this week became available to American investors via a new spot ETF, was recently trading hands for $2.30.
Traders betting on the future price of cryptocurrencies have also lost money as their positions have been liquidated: CoinGlass data shows that $1.36 billion in futures positions have been closed over the past 24 hours. The vast number of those positions was up of long positions—$1.21 billion worth.
The overall crypto market is down more than 4% to $3.35 trillion, according to CoinGecko. Bitcoin has ticked back up to about $96,000, but remains down about 6.5% on the day.
Experts told Decrypt that the industry is currently in a bear market, with a drop in institutional demand due to macro and geopolitical uncertainties—and so far, crypto has had one of its worst fourth-quarter performances.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
DWF Labs: Traditional Altseason Coming to an End, Institutional Capital Shifting to BTC, ETH, and RWA
Andrei Grachev from DWF Labs points out that the traditional "altseason" is gradually disappearing due to structural changes in the crypto market. Institutional capital increasingly favors Bitcoin and Ethereum, exposing altcoins to higher risks and capital outflows. Over the past 13 months, altcoin market capitalization has declined by over $209 billion.
GateNews31m ago
PA Daily | Ethereum Foundation Sells 5,000 ETH for Operations; Aave Launches Shield Feature to Block Transactions with Slippage Exceeding 25%
Today's News Highlights:
1. Macro outlook for next week: Federal Reserve likely to maintain cautious stance; NVIDIA GTC 2026 conference to be held
2. Due to conflict impact, Dubai TOKEN2049 and multiple cryptocurrency events postponed or canceled
3. Ethereum Foundation sells 5,000 ETH for operational activities
4. Aave: to launch Aave Shield feature, which will default-block swaps with price impact exceeding 25%
5. L1 public chain Pharos receives "contingent" investment from Xinte New Energy, valued at nearly $1 billion
6. Galaxy Research Director: If CLARITY Act is not reviewed by committee by end of April, the likelihood of passage this year is extremely low
Regulation & Macro
Macro outlook for next week: Federal Reserve likely to maintain cautious stance; NVIDIA GTC 2026 conference to be held
According to Jin Shi Financial News, the conflict between the U.S., Iran, and Israel has entered its third week, with energy commodities
PANews39m ago
Still complaining about high on-chain fees? Ethereum Gas drops to $0.01, hitting an all-time low
Ethereum's transaction fees have decreased significantly in recent times, with the average Gas price currently around 0.045 Gwei, showing a decline of over 90% compared to previous peak periods. With the development of Layer2 solutions and future upgrades, Ethereum's primary function is gradually transitioning to a security settlement layer, while on-chain activity remains robust. Compared to traditional bank transfers, blockchain operation costs are notably lower, reshaping market perceptions of transaction fees.
区块客4h ago
Whale Closes Out $84 Million BTC and ETH Long Positions, Shifts to Spot Accumulation of 12,027 ETH
Gate News Update: On March 15, according to Ember monitoring, a whale that previously opened long positions worth $84 million in BTC and ETH on Hyperliquid on March 9 has closed its positions and instead purchased ETH spot on the platform. The whale address spent $24.87 million to purchase 12,027 ETH spot, with an average buying price of $2,068.
GateNews4h ago
