Equity Rotation, Long Liquidations Push Crypto Lower

The crypto market fell 0.55%, losing $13.58 billion as equity rotation into U.S. stocks and mass long liquidations pressured prices. Total crypto market capitalization stood at $2.50 trillion, down from the 0.382 Fibonacci level near $2.53 trillion.

Over the past 24 hours, long positions accounted for the majority of forced exits. Exchanges recorded $241.31 million in long liquidations and $103.52 million in short liquidations, with total unwinds of $344.83 million across 92,264 traders.

Bitcoin traded at $75,202 after moving below four key exponential moving averages: the 20-day at $77,394, the 50-day at $76,663, the 100-day at $76,805 and the 200-day at $81,363. Bitcoin also slipped under the 0.382 Fibonacci level at $75,987. Sell-side volume increased during the session. A daily close back above $75,987 would be the first technical sign of stabilization, while a drop below $73,874 (0.5 Fibonacci) would expose $71,762 (0.618) as the next downside level.

Near Protocol led the top-100 tokens lower, falling roughly 10% to trade near $2.50 and testing a swing low at $2.46 after a strong rally from late April to May. Long liquidations on NEAR totaled about $13.21 million over 24 hours. Immediate support sits near $2.32; a reclaim of $2.81 would reopen upside targets toward $3.39, $3.97 and higher extension levels.

Other market developments included activation of the XRP Ledger fixCleanup3_1_3 amendment, with XRP trading near $1.35 and showing little price movement after the protocol update. ADI Predictstreet secured a prediction-market partnership for the 2026 World Cup; other crypto firms did not reach the tournament’s official global sponsor tier. Bitwise’s spot Hyperliquid ETF attracted roughly $40 million in its first eight trading days, and an on-chain whale opened a $9.1 million 10x long position on the HYPE token during that period.

Exponential moving averages weight recent price data more heavily than older data and are used to show short-term direction. Fibonacci levels mark potential support and resistance based on prior price moves. Liquidations occur when leveraged positions are closed by exchanges after margin thresholds are breached; clusters of long liquidations can accelerate downward price moves when exchanges sell collateral to cover losses.