Bitcoin, Ethereum, XRP crash as crypto liquidations top $1.5B

Bitcoin, Ethereum, XRP and other major cryptocurrencies have suffered heavy losses as a reported $6.3 billion Binance hack rattled investors and triggered more than $1.5 billion in liquidations across the crypto market. Bitcoin fell below $77,000 during the market selloff, while Ethereum dropped under $2,200 and XRP, Solana and other major altcoins recorded heavy losses. More than $1.5 billion in leveraged crypto positions were liquidated over 24 hours, with traders betting on rising prices accounting for most of the losses. The decline followed reports of a $6.3 billion security breach at Binance, which suspended withdrawals and said it would cover customer losses. Bitcoin and Ethereum recovered some of their losses on Friday, although both remained below their levels before the selloff.

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