24.07.2025 21:18
A significant cryptocurrency market downturn resulted in nearly $976 million in liquidations within a 24-hour period, according to data from CoinGlass. This sharp reversal, primarily affecting bullish leveraged positions ($840.93 million), highlights the volatility inherent in the crypto market. These liquidations, triggered when price movements exceed a trader's margin, are closely monitored as indicators of market sentiment and trader positioning; large-scale liquidations of long positions often precede market bottoms, whereas short liquidations can foreshadow price squeezes.
The sell-off impacted numerous cryptocurrencies significantly. XRP, Dogecoin, Stellar, Hedera (HBAR), and PEPE all experienced double-digit percentage declines exceeding 10%, while Aptos, dogwifhat, and Flare suffered losses exceeding 15%. This widespread decline, likely fueled by the unwinding of leveraged long positions and profit-taking at key resistance levels, lacked a single, clearly identifiable catalyst.
Changpeng Zhao (CZ), the former CEO of Binance, succinctly responded to this market slump on Twitter. His tweet, a simple "Dip again. 😂 Keep building!", expressed a measured reaction to the $976 million in liquidations affecting 316,869 traders. This understated response reflects the perspective of a seasoned crypto veteran, emphasizing the enduring importance of long-term development despite short-term price fluctuations.
CZ's "keep building" philosophy has become a hallmark of his approach to market downturns. This consistent message, reiterated throughout previous bear markets, underscores his belief that periods of decline should be dedicated to focused development rather than panicked retreat from the market. The sentiment suggests that while price volatility is inherent and temporary, the underlying value creation within the cryptocurrency space endures. This perspective, drawn from internet sources, counters the prevailing anxiety surrounding the recent market crash.
