The crypto market today has experienced a broad-based downturn today, with the total industry market capitalization slipping to $3.33 trillion. Trading volume also shrank considerably by 16.50%, now standing at $93 billion, signaling cautious attitude from investors. Bitcoin remains the dominant force with a 64.6% market share, followed distantly by Ethereum at 9.1%.
A combination of macro events and sudden whale activity has injected fresh volatility into the digital asset space. The Fear & Greed Index rests at a neutral 51, reflecting indecision among market participants.
A significant development casting a shadow over today’s action is the $3.6 billion crypto options expiry. Of that total, Bitcoin accounts for $2.98 billion and Ethereum $610 million. The unwinding of these contracts has led to volatility and uncertain short-term moves, as traders reassess risk amid high open interest.
Whale Activity and Option Expiry Unnerve Investors?
Bitcoin’s price has slipped by 0.68% over the last 24 hours, currently hovering around $108,294.97. While the dip may seem modest, the root cause is raising alarm bells. As a dormant wallet containing 80,009 BTC, which was inactive for over 14 years, has suddenly moved approximately $8.7 billion worth of tokens.
Such activity typically highlights security concerns and fears of large-scale dumping, which often prompts a wave of defensive selling. This movement coincided with today’s massive options expiry event, further intensifying downward pressure.
Also read our Bitcoin (BTC) Price Prediction 2025, 2026-2030!
Ethereum is not immune either. The second-largest crypto has declined 1.2%, now trading at $2,527.90. This pullback is largely linked to short-term profit-taking following a strong 4.09% weekly performance. Moreover, ETH faced stiff resistance near $2,600, which drove liquidations of over-leveraged long positions.
Liquidation Shakeout Hits Market
Liquidation events have further strained investor sentiment. Bitcoin’s leveraged long positions took a hit amid the dormant wallet scare, triggering cascading liquidations. The overall 24-hour trading volume for BTC has fallen by 14.9%, now at $42.47 billion.
Ethereum’s fall is a case of technical rejection. The failed attempt to break above $2,600 led to profit booking and liquidation of weak hands. The combined pressure from options expiry and short-term resistance zones added fuel to the correction.
XRP, meanwhile, is down 0.25% to $2.22 after failing to maintain its breakout above the $2.27–$2.30 range. The market also seemed underwhelmed by Ripple’s recent announcement about securing a banking license, which failed to generate strong bullish momentum.
Top Gainers Today
- BONK Price: $0.00001847 +9.52%
- PENGU Price: $0.01664 +5.60%
- XDC Price: $0.06174 +2.45%
Top Losers Today
- TIA Price: $1.52 -5.00%
- UNI Price: $7.02 -4.56%
- IMX Price: $0.4286 -4.16%
FAQs
A mix of whale wallet activity, $3.6B in options expiry, and profit-taking in major assets like BTC and ETH has triggered a broad market decline.
The sudden movement of a 14-year-old dormant wallet containing 80,009 BTC sparked fears of selling pressure, leading to leveraged long liquidations and a 0.68% price drop.
BONK with +9.52%, PENGU with +5.60%, and XDC with +2.45% gains are among the few altcoins showing resilience amid the broader market decline.
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