Bitcoin has fallen out of the world's top 10 largest assets by market cap, sliding to 13th place behind gold, NVIDIA, Apple, Microsoft, and silver.
Over 172,000 traders were liquidated in a single day as Bitcoin's losses mounted. Total crypto liquidations reached $921 million in 24 hours, with Bitcoin alone accounting for $352 million. Ethereum followed at $241 million, while XRP, ZEC, HYPE, SUI, DOGE, and NEAR recorded the remaining losses.
Long positions made up more than 90% of all liquidations - a sign traders had bet on a price recovery that never came, resulting in forced selling.
Bitcoin was trading around $73,125 at the time of writing, down 1.70% in 24 hours and 5% over the past week. The broader crypto market moved in the same direction. Ethereum dropped 5.60% over the week, BNB fell 2.50%, and XRP declined 3.15%.
Meanwhile, gold held the top spot globally with a market cap exceeding $31 trillion. NVIDIA, Google, Apple, and Microsoft followed.
Bitcoin's total market cap now stands at roughly $1.47 trillion - significant by most standards, but no longer enough to place it in the top 10.
Technical indicators paint a gloomy picture. On the 1-day chart, moving averages from 10 to 200 periods all point to negative momentum. The RSI sits at 36, considered neutral, but two other oscillators are flashing sell signals.
Whether Bitcoin can climb back into the top 10 will depend on price action in the weeks ahead. A sustained move above $75,000 could help restore confidence, while a break below key support levels may extend the slide.