The world’s top two cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), have been on the bearish side within the past few days as investors closed their positions and secured profits. According to data from the on-chain liquidations tracker, Coinglass, this price plummet resulted in over $920 million losses for bullish leverage traders within the past 24 hours.
Notably, both leading cryptos soared to new highs recently. BTC hit a new all-time high close to $124,500 two weeks ago, while ETH surpassed the $4,950 mark two days ago. However, these upward movements didn’t last for so long as the market took a bearish turn.
Over $920M In the Mud
CoinGlass revealed that over 180,000 traders were affected by the crypto market plummet. Bullish ETH traders were the most affected as the sharp plummet resulted in over $300 million in losses for thousands of traders.
Meanwhile, bullish BTC traders also lost about $280 million. A trader on the HTX exchange who went long on the BTCUSDT pair lost about $39.42 million, to become the most affected single entity by the bearish movement. The most affected exchange was Bybit, as traders on the platform lost over $260 million.
The loss extended to traders who had open long positions on Solana(SOL), XRP, and Dogecoin (DOGE). Collectively, they bled about $90 million. Remarkably, the price plummet was spread across various cryptocurrencies as the entire crypto market capitalization dropped to $3.8 trillion.
ETF Investors Withstand Bleeding
Although BTC and ETH dropped massively, investors in the U.S.-approved exchange-traded funds (ETFs) tied to these assets did not leave the market out of fear. They saw the dip as an opportunity to scoop shares of the investment funds, taking a stand to enjoy profits when the market recovers.
Data from ETF tracker Farside shows that Bitcoin ETFs ended Monday on a bullish note with $219.1 million in inflows to end a six-day-long outflow streak that resulted in an over $1 billion sell-off. Similarly, Ether ETFs recorded $443.9 million in inflows as indirect investors remain bullish.
Remarkably, considering a few factors, including the increasing ETF inflows and forthcoming ETF approvals, many analysts predict that the last three months of 2025 could come with a market uptrend.
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