Key Notes
- Crypto market value fell about $213 billion over 24 hours to $2.17 trillion in the November 14 snapshot.
- Bitcoin dropped 6.49% while Solana lost 11.77%.
- About $1.86 billion in leveraged long positions were liquidated.
The cryptocurrency market lost approximately $213 billion in value over 24 hours on Saturday as Bitcoin fell below $64,000 and selling hit major altcoins even harder.
Total crypto market capitalization stood at $2.17 trillion, down 8.96%, in CoinGecko’s market data updated at 22:35 UTC on November 14. That implies a decline from about $2.38 trillion a day earlier.
Solana and XRP both suffered double-digit percentage losses. Ether dropped below $1,800, while BNB slipped under $600, leaving all five major cryptocurrencies tracked in this report sharply lower.
The market-cap decline measures the fall in the quoted value of circulating cryptocurrencies, rather than an equivalent amount of cash withdrawn from exchanges.
Altcoins Suffer Bigger Losses
CoinGecko’s price snapshot, updated at 22:34 UTC, showed:
- Bitcoin (BTC): $63,829, down 6.49% over 24 hours.
- Ether (ETH): $1,757.36, down 8.78%.
- BNB: $576.07, down 8.61%.
- XRP: approximately $0.903, down 10.73%.
- Solana (SOL): $69.30, down 11.77%.
Solana’s percentage decline was roughly 1.8 times Bitcoin’s. Bitcoin held up better than the other four assets, but its own loss of more than 6% offered little shelter from the broader retreat.
Nearly $2 Billion in Leveraged Positions Liquidated
CoinMarketCap’s derivatives dashboard showed about $1.97 billion in liquidations over 24 hours on Saturday evening. Long positions accounted for roughly $1.86 billion, or 94% of the total, compared with about $115 million in shorts.
Liquidations force leveraged positions to close when collateral falls short of requirements. The overwhelming losses on long positions meant traders betting on higher prices bore the brunt of the rout, with bullish bets liquidated at roughly 16 times the value of bearish ones.
