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CryptoMediumUpdated•Originally published 23 June 2026•Updated 23 June 2026•
1 min read

Crypto Market Crash Wipes $100B in Value as Liquidations Hit $700M

Illustration of Bitcoin and Ethereum coins near a mechanical crusher and cracked walls with a liquidation sign.

Key Facts

1Over $700 million in crypto positions were liquidated within a 24-hour period.
2The total crypto market capitalization dropped by over $100 billion within hours.

Amid escalating fears of a deeper correction in digital assets, the cryptocurrency market experienced a sharp selloff that triggered over $700 million in liquidations within a 24-hour period. According to reports, the total crypto market capitalization dropped by more than $100 billion in just a few hours. This crash was characterized by heavy liquidations across major assets and various altcoins, signaling heightened volatility.

This downturn coincides with broader market caution, following data showing U.S. Housing Starts fell by 15.4% in mid-June, dampening overall risk appetite. In related equity performance, SPCX closed at $154.6 (close June 22, 2026), falling significantly from its intraday high of $176.75 per market data. This price action mirrors the broader distress seen in benchmark cryptocurrencies like Bitcoin and Ethereum during this liquidation event.

Traders should watch the support level for SPCX at $154, its low from the June 22, 2026 session, to gauge if downward momentum persists. Looking ahead, upcoming economic catalysts including bond auction results and weekly petroleum reports could further influence market liquidity. The focus remains on whether the crypto sector can stabilize after such a massive wipeout of leveraged positions.