Bitcoin News Today: Over $1 billion in crypto long positions liquidated as Bitcoin and Ethereum drop 4.7% amid macro fears

Over $1 billion in long positions across the cryptocurrency market were liquidated within a 24-hour period, with Bitcoin and Ethereum among the hardest-hit assets. The sudden sell-off came as broader macroeconomic concerns—particularly inflation and tighter monetary policy—continued to pressure risk assets globally. Liquidation data revealed Ethereum suffered the largest single-crypto losses, with $96 million in long positions wiped out, followed closely by $67 million in Bitcoin positions [1]. The rapid decline has intensified market volatility, with Bitcoin’s price in Binance Coin (BNB) fluctuating sharply, hitting a seven-day high of BNB149.781 before falling to BNB141.583, recording a 4.7% drop on July 28 [2].

The sharp correction has sparked a divergence in market sentiment. While some analysts warn of further downside risks, particularly if inflation remains elevated, others remain cautiously optimistic. Reports suggest that large holders of Ethereum have continued accumulating the asset, hinting at potential long-term resilience despite the recent selloff [1]. However, concerns persist for smaller and speculative assets. For instance, the PEPE token—a meme-inspired cryptocurrency—plunged nearly 5% amid the liquidation wave, signaling a shift in retail investor behavior as uncertainty grows [4]. Additionally, a recent analysis noted that a key price level loss by Dogecoin (DOGE) could trigger a more significant downturn [3].

The selloff has also heightened overall trading activity, but with increased caution. Retail traders appear to be stepping back from high-risk altcoins and meme coins, as the market remains sensitive to macroeconomic cues. While institutional investors continue to monitor Ethereum's accumulation patterns, the broader market remains under pressure, struggling to maintain any meaningful gains.

The trajectory of the crypto market in the near term will largely depend on macroeconomic developments, especially central bank policies and inflation trends. Investors are now closely watching whether Bitcoin can retest key support levels without slipping further, as prolonged volatility could lead to more widespread liquidation events. The market’s ability to stabilize and regain investor confidence will determine whether this correction marks a temporary setback or a more prolonged bearish phase.

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[1] title1.............................(url1:https://www.aol.com/why-investors-eyeing-ether-next-093001345.html)

[2] title2.............................(url2:https://www.coingecko.com/en/coins/bitcoin/bnb)

[3] title3.............................(url3:https://newsbtc.com/)

[4] title4.............................(url4:https://www.coinglass.com/ru/news/523753)