The cryptocurrency market endured a sharp downturn on Sunday, shedding 2.02% to settle at $2.69 trillion as major digital assets saw widespread declines. Bitcoin slipped below the critical $83,000 level, hitting an intraday low of $82,397.
Ethereum followed suit, while altcoins suffered even deeper losses, compounding investor concerns over the sector’s near-term trajectory.
Over the past 24 hours, global cryptocurrency trade volume stood at $47.63 billion, a staggering 34.65% drop from the previous day. Bitcoin (BTC) fell 1.67% after reaching its lowest point of $82,397 at 7:30 a.m. Eastern Time.
Ethereum (ETH) posted a more significant decline of 2.45%, while Cardano (ADA) led the top ten assets in losses, dropping 4.7%.
Other major tokens followed the downward trend. XRP lost 4.6%, and Dogecoin (DOGE) declined by 3.3%, adding to the broader market turmoil. Bitcoin continues to dominate the sector, holding a 60.8% share of the total crypto capitalization at approximately $1.63 trillion. Ethereum commands an 8.4% stake, placing its market value at $226 billion.
72% of Cryptos in Red as WEMIX, SNEK Post Sharp Losses
The selloff has left nearly 72% of all cryptocurrencies in negative territory. WEMIX took the hardest hit, plunging 8.73% against the U.S. dollar.
SNEK mirrored the loss with an identical 8.73% drop, while TRAC fell 8.67%. KAITO declined by 8.41%, and RON and HYPE recorded losses of 7.6% and 6.57%, respectively. The widespread downturn signals mounting pressure across the crypto market, increasing liquidations and uncertainty.
The latest slump has triggered a wave of liquidations, with $159.57 million in derivatives positions erased on Sunday. Long bets accounted for a significant $112.45 million of that total. Bitcoin traders saw $28.53 million in long positions wiped out, while Ethereum liquidations reached $25.75 million.
Data from coinglass.com shows that as of 7:30 a.m., 81,840 traders have been forced to close positions amid the persistent sell-off.
Despite the broader bearish sentiment, tokens within the TON ecosystem have bucked the trend, surging on the back of positive developments. Notcoin (NOT) jumped 15.07%, and TON gained 14.69% following the return of Telegram founder Pavel Durov’s passport by French authorities on March 15. The news has provided a rare pocket of optimism in an otherwise volatile market, though broader sentiment remains cautious.
