In accordance with BitJie, the cryptocurrency market continues to decline, with over $1.37 trillion in market value lost since October 2024. Over the past 24 hours, $1.68 billion in Bitcoin, Ethereum, Solana, and other major altcoins were liquidated. Bitcoin dropped 1% to $85,000, and Ethereum fell below $2,750. Analysts warn that a sharp drop in Bitcoin, Ethereum, and Solana prices has exposed major institutional funds, including BitMine and Forward Industries, to significant unrealized losses. Market volatility has intensified as liquidity tightens, raising concerns about potential cascading liquidations. Tom Lee of BitMine highlighted growing structural weaknesses in the market, which are accelerating price declines. BMNR, a major Ethereum holder, is facing $44–45 billion in unrealized losses after a 45% drop from its August peak. Forward Industries, which holds 6.83 million Solana tokens, is sitting on a $7.11 billion unrealized loss. If Bitcoin and Ethereum break key support levels, a broader market collapse could follow, potentially reshaping the crypto landscape for years.
Major Crypto Funds Face Massive Unrealized Losses Amid Market Downturn
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