In brief
- Bitcoin dropped below $95,000 per coin on Friday, hitting a six-month low.
- But Ethereum and Solana experienced bigger sell-offs, and $1.36 billion in futures positions were liquidated.
- Some experts think the crypto space is now in a bear market, following recent losses.
Decrypt’s Art, Fashion, and Entertainment Hub.
Discover SCENE
Bitcoin’s price plunged on Friday to below $95,000 for the first time in six months—but the altcoin market fared far worse, and traders who bet on rising prices are getting wiped out due to widespread liquidations.
Ethereum—the second-biggest digital coin—dipped below the $3,100 mark earlier Fridy and was recently trading for about $3,200 after a nearly 7% 24-hour dip. That makes it one of the worst-performing major cryptocurrencies of the day, according to CoinGecko data.
The coin’s price is now more than 35% below its August record of $4,946.
An even bigger loser, though, has been Solana: After dropping more than 8% over a 24-hour period, the coin was priced at $142 Friday morning New York time.
The Solana price dip comes despite solid flows into new exchange-traded funds giving investors exposure to the asset. Since their October 28 debut, the funds have collected money from investors every single day, per data from Farside Investors.
But it hasn’t been enough to sustain the sixth-biggest digital coin’s price. Solana is now more than 52% below its January record of $293.
XRP, the fourth-biggest digital asset, also plunged, shedding about 8% of its value in a day. The coin, which also this week became available to American investors via a new spot ETF, was recently trading hands for $2.30.
Traders betting on the future price of cryptocurrencies have also lost money as their positions have been liquidated: CoinGlass data shows that $1.36 billion in futures positions have been closed over the past 24 hours. The vast number of those positions was up of long positions—$1.21 billion worth.
The overall crypto market is down more than 4% to $3.35 trillion, according to CoinGecko. Bitcoin has ticked back up to about $96,000, but remains down about 6.5% on the day.
Experts told Decrypt that the industry is currently in a bear market, with a drop in institutional demand due to macro and geopolitical uncertainties—and so far, crypto has had one of its worst fourth-quarter performances.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
BlackRock charges an 18% commission on staking rewards for its Ethereum staking ETF; multiple experts assess costs and risks
BlackRock’s iShares Staked Ethereum Trust launched in March under its brand, with a management fee of 0.25% and a staking-reward commission of 18%. Industry insiders believe the commission includes multiple costs, and it may decrease in the future. Some people question whether such a high fee is justified, especially when comparing it to staking rates for retail investors.
GateNews20m ago
Ethereum falls below $2,200, with the 24-hour gain narrowing to 6.1%
Gate News update, April 8, market data shows that Ethereum fell below the $2,200 mark, and the 24-hour gain narrowed to 6.1%.
GateNews1h ago
ETH drops 0.85% in 15 minutes: ETF inflows weaken and large holders cut positions, triggering spot selling pressure
2026-04-08 14:30 to 14:45 (UTC), the ETH spot market saw a rapid pullback, with the return rate recording -0.85%. The candlestick price range fluctuated between 2202.51 and 2227.59 USDT, with a swing amplitude of 1.13%. During this period, trading volume rose by about 10% versus the previous hour on a quarter-hour basis, short-term market volatility intensified, and mainstream investor attention noticeably increased.
The main driving force behind this unusual move is that the ETF capital inflow momentum, which was strong on April 6, significantly weakened on April 8; institutions and some of the capital that had flowed in earlier chose to realize profits in the spot market, bringing concentrated selling.
GateNews1h ago
ETH 跌破 2200 USDT
Gate News bot 消息，Gate 行情显示，ETH 跌破 2200 USDT，现价 2198.15 USDT。
CryptoRadar1h ago
Ethereum Foundation Sells 416.67 ETH for $933,340 DAI
Gate News message, the Ethereum Foundation has sold 416.67 ETH in exchange for $933,340 DAI. The foundation continues to hold additional ETH holdings.
GateNews2h ago
ETH drops 1.11% in 15 minutes: Large-holder funds cluster into exchanges, triggering sell pressure to take the lead
Between 13:30 and 13:45 (UTC) on 2026-04-08, the ETH price fell from 2265.79 USDT to 2234.72 USDT within 15 minutes, with a range of 1.37%. The candlestick return rate was -1.11%. The unusual downside move drew widespread attention from the market. Short-term volatility was significantly higher than in the surrounding periods, reflecting that trading sentiment was disrupted and driven by sudden dominant factors, and liquidity risk intensified.
The main driving force behind this anomaly was a large-scale, synchronized transfer of whale funds into trading platforms. On-chain data shows four transfers with each amount exceeding 10k ETH, and exchange inflows
GateNews2h ago
