Crypto Market Hits $700M in Liquidations as Total Cap Drops $100B

Key Facts

1The crypto market saw $700 million in liquidations affecting Bitcoin, ETH, and XRP among others.

2Total crypto market cap tumbled to $2.9 trillion after wiping out $100 billion in 24 hours.

3The Crypto Market Fear & Greed Index dropped from 73 to 70, remaining in 'Greed' territory.

The cryptocurrency market saw $700 million in liquidations affecting Bitcoin, ETH, and XRP over the last 24 hours. CoinGape reported that the total crypto market capitalization tumbled to $2.9 trillion after wiping out $100 billion in value within a single day. The deepening selloff triggered mass liquidations for more than 123,000 traders, with the largest single liquidation order of ETH-USDC worth $26.64 million occurring on the Binance exchange.

The Crypto Market Fear & Greed Index dropped from 73 to 70 on October 7, 2026, though sentiment remains within "Greed" territory. These liquidations coincided with US 10-year Treasury yields hitting a 24-year high of 5.35% before retracing to 5.30%. Additionally, the Dollar Index (DXY) reached 102.50, its highest level since March 2025, further compounding pressure on digital assets.