Crypto Market Value Falls to $2.42T as Derivatives Traders Face $443M in Losses

Over the past 24 hours, bitcoin has depreciated 4.7% against the U.S. dollar, bottoming out at $74,588 shortly after 9 p.m. on April 8. The cryptocurrency recorded $60.22 billion in worldwide trade volume and, as of 8:15 a.m. ET on April 9, is exchanging hands at $76,300. While BTC experienced a 4.7% decline, ether dropped 8.2%, Solana fell 6.4%, and XRP lost 8.8% in the same timeframe.

BTC/USD 1H chart via Bitstamp at 8:40 a.m. ET on April 9, 2025.

Only a handful of digital assets—LEO, FOUR, and IP—managed to resist the broader downward motion. NEAR took the heaviest hit, falling 12.9%, followed by EOS at 12%, AB at 11.6%, and FARTCOIN with an 11.12% decline. Global crypto trading volume came in at $136.33 billion, reflecting an 8.36% drop. Bitcoin retains a 62.5% share of the market, while ether commands 7.3%.

Although BTC is trading for $76,300 on most international platforms, South Korean exchange Upbit lists it at $77,871. Within the derivatives sector, $443.36 million in leveraged positions were liquidated on Wednesday. Of that total, $116 million originated from bitcoin long positions, while ether long trades accounted for $85.79 million. By 8:15 a.m. on Wednesday, 139,383 traders had been liquidated, according to coinglass.com data.

As traders brace for turbulence in U.S. equities and continued volatility in Treasury markets, gold has quietly advanced. At the time of reporting, gold is up nearly 3%, priced at $3,064 per ounce. Just one day prior, the precious metal was trading below the $3,000 mark. Meanwhile, tensions between the U.S. and China persist, with no immediate resolution in sight for ongoing trade disagreements between the two economic powers.

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