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Ad Home / Crypto News / Crypto Market Selloff Deepens as $700M in Bitcoin, ETH, XRP, SOL, DOGE, XAU Liquidated Crypto Market Selloff Deepens as $700M in Bitcoin, ETH, XRP, SOL, DOGE, XAU Liquidated 07 Oct, 2026 By Varinder Singh Varinder Singh
Expertise : Bitcoin, Crypto, Global Macro, DeFi, Blockchain, Web3, US Stocks, AI, Regulations and Lawsuits, & More Varinder is a seasoned leader in the fintech and crypto media with over 13 years of experience, including over 7 years dedicated to blockchain, crypto, and Web3 developments. He is known for covering high-impact and quality news stories for publishers such as CoinGape, The Coin Republic, and The Crypto Times, while perfecting and training multiple journalists during his tenure. Being a Master of Technology degree holder, analytics thinker, and tech enthusiast, he has shared his knowledge of disruptive technologies in over 6000 news articles and papers. Read full bio Copied! Why Trust CoinGape CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information. Highlights
Crypto market selloff on Wednesday saw the market cap tumble back to $2.9 trillion, wiping out more than $100 billion over the last 24 hours. Sentiment among crypto investors still remains strong, with the Crypto Market Fear & Greed Index dropping from 73 (greed) to 70 (greed) today
Bitcoin (BTC) has plunged more than 4% to below $83K, losing the recent upside momentum. Ethereum (ETH) slumped 6% to $4,436, witnessing significantly higher liquidations than BTC in the last 24 hours
Top altcoins XRP, Solana (SOL), Dogecoin (DOGE), and Zcash (HYPE) fell 3-7% over the last 24 hours. SKY and Uniswap are down nearly 12% and 11%, respectively
Stocks and the crypto market are witnessing widespread profit-taking by high-leverage traders as US 10-year Treasury yields (US10Y) briefly rose above 5.35% for the first time in 24 years. This happened due to bond sales today, mortgage rates hit new 3-year highs, and inflation concerns amid strikes by Iran
The benchmark 10-year Treasury yield fell back to 5.30% as investors are now awaiting Treasury buyback and the FOMC Meeting Minutes release. Increasing expectations that the Federal Reserve will pause interest rates are causing Treasury yields to reverse
BREAKING: The Nasdaq 100 extends losses to -200 points on the day as US Treasury yields hit their highest level since 2002 and oil prices rise. pic.twitter.com/nRaIuHt79u
— The Kobeissi Letter (@KobeissiLetter) October 7, 2026
Also, the U.S. Dollar Index (DXY) reversed to $102.3 after rising to 102.50 today, the highest level since March 2025. Rising oil prices today fueled inflation concerns and renewed expectations that the Fed would need to keep monetary policy tighter for longer
The crypto market saw a massive $700 million in total liquidations, according to Coinglass data. Notably, nearly $650 million in long positions and $50 million in short positions were liquidated over the last 24 hours
More than 123K traders were liquidated in the last 24 hours, with the largest single liquidation order of ETH-USDC worth $26.64 million on crypto exchange Binance. The largest Bitcoin liquidation was valued at $11.75 million
As per the data, ETH, BTC, SOL, XRP, DOGE, XAU, ZEC, UNI, SUI, XAG, and HYPE recorded the largest liquidations, causing a broader crypto market selloff
Also Read: Top Reasons Why the Crypto Market Is Going Down Today
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information
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