Crypto Market Meltdown! Over 180,000 Traders Liquidated, $100 Billion Wiped Out

TradingKey – The crypto market plunged across the board on Monday, June 23, erasing more than $100 billion in market value and triggering massive liquidations affecting over 180,000 traders.

The total market cap dropped more than 3%, falling from $3.15 trillion to a low of $3.05 trillion, before partially recovering.

Total Crypto Market Cap – Source: CoinMarketCap.

As of press time, major cryptocurrencies have pared some losses:

- Bitcoin (BTC) and Ethereum (ETH) are down nearly 1%,

- Ripple(XRP) and Dogecoin (DOGE) have fallen close to 2%,

- Other altcoins have seen even steeper declines.

The broad sell-off triggered a wave of forced liquidations, particularly among long positions. In the past 24 hours, over $600 million in positions were liquidated, with longs accounting for nearly $500 million, or about 80% of the total.

Crypto Market Liquidation Data – Source: CoinGlass.