Crypto Market Cap Falls 3.80% as Liquidations Reach $740.7 Million

Bitcoin and major cryptocurrencies moved lower during the overnight and Asia session Oct. 9, sending total crypto market capitalization down 3.80% to $2.79 trillion as leveraged positions faced $740.7 million in liquidations.

Bitcoin (BTC) traded at $82,310 at 1:03 a.m. ET (05:03 UTC), down 0.47% over 24 hours. Marketwide trading volume reached $118.10 billion, while Bitcoin held 59.1% of the total market and Ether accounted for 10.9%.

Ether (ETH) declined 2.90% to $2,490. XRP fell 0.80% to $1.39, and BNB dropped 3.59% to $740.87. Solana (SOL) lost 4.40% to $110.13, while Dogecoin (DOGE) declined 2.86% to $0.0850.

The decline extended the market weakness recorded in the previous session, when total crypto market capitalization fell 4.39% and Bitcoin dropped 1.59% over 24 hours.

Among the top 39 cryptocurrencies, Polkadot (DOT) rose 5.27% to post the strongest performance. NEAR Protocol (NEAR) was the weakest, falling 11.87%.

Liquidations across Binance, Bybit and OKX reached $740.7 million over the 24-hour period. Long positions made up $641.2 million of the total, compared with $99.5 million in short positions.