Traders' losses exceed $500 million due to the fall of the crypto market
Date: 2025-05-13 Author: Gabriel Deangelo Categories: BUSINESS
Over the past 24 hours, cryptocurrency traders have lost more than $500 million as a result of the liquidation of margin positions amid a market correction. On the morning of May 12, the Bitcoin rate rose to $106 thousand, but by the evening it fell to $101 thousand. As a result, the overall drop in the capitalization of the crypto market was about 3% in 24 hours.
According to Coinglass, over the course of 24 hours, exchanges liquidated the positions of more than 201 thousand market participants for a total of $659 million. It is noteworthy that $517 million was accounted for by long positions - bets on price growth, which indicates an unexpected nature of the decline.
On the morning of May 13, Bitcoin is trading around $102.7 thousand, having lost 2.5% of its value in a day. Its market capitalization has fallen to $2.04 trillion.
Ethereum has also come under pressure and has lost 5% in a day, trading at $2.46 thousand. The total capitalization of the crypto market has decreased by 2.9% and now stands at $3.3 trillion, according to Coinmarketcap.
Most of the top 10 assets by capitalization have shown a decline, with the exception of Ripple's XRP, which has risen by 2.7%. The most noticeable drop was recorded by Dogecoin - its price has fallen by 10%.
In the top 100 cryptocurrencies, the best result over the past day was shown by Bitfinex's UNUS SED LEO, which added 3%. At the same time, the leader in the decline was the Pi token, which lost 25% of its value in a day. However, despite this, Pi's weekly gain is an impressive 90%.
The index of fear and greed in the crypto market continues to be in the "greed" zone - for the fourth day in a row it remains at 70 out of 100. This indicates high investor interest in buying, despite short-term drawdowns.
Experts remain optimistic: they expect the positive dynamics to continue. Analysts' forecasts indicate the possibility of Bitcoin's rate rising above $125 thousand as early as May 2025.
