Bitcoin remains stable as Ethereum and XRP lead over $950 million in cryptocurrency liquidations.

Bitcoin remained steady in pre-market trading in the United States as the recent surge in cryptocurrency prices showed signs of cooling off after last week’s Crypto Week. XRP took the lead in the downward spiral, followed by DOGE and ADA among major cryptocurrencies.

The market saw a significant sell-off, resulting in a total of $956.33 million in liquidations over the last day, with most of the losses coming from long positions that anticipated price increases. Ethereum traders bore the brunt of the downturn, experiencing $197.78 million in liquidations, while XRP and Bitcoin followed with $114.41 million and $80.97 million, respectively.

Despite Bitcoin’s negligible 0.1% decrease in value, the sentiment among retail traders on Stocktwits shifted from ‘neutral’ to ‘bearish.’ XRP faced the most substantial decline of over 10% in its price over the last 24 hours, with DOGE and ADA dropping by 8.4% and 7.6%, respectively. Despite the dip, retail sentiment for all three altcoins remained more optimistic compared to Bitcoin.

Ethereum, the second-largest cryptocurrency by market value, experienced a 1.3% drop while Solana plummeted by nearly 7% in the past day. The stock market for crypto-related companies showed mixed results with the largest corporate holder of Bitcoin, Strategy, seeing a slight 0.02% decline in pre-market trading following a 3% decrease in the previous session. Retail sentiment surrounding Strategy shifted from ‘bullish’ to ‘neutral.’

Coinbase Global saw a 0.33% decrease in early morning trading, while Robinhood gained 0.5%. Bitcoin miners Riot Platforms and Marathon Digital were also in the red, with Riot slipping by 0.7% and Mara by 0.1% in pre-market hours.

The market’s roller coaster ride continues as cryptocurrency prices fluctuate, leading to significant liquidations among traders. Despite this, retail traders remain cautiously optimistic about altcoins while closely monitoring Bitcoin’s movements and the overall sentiment in the market.