Major altcoins, including XRP and Dogecoin, experienced significant declines of up to 15% amid heightened selling pressure, leading to over $1.5 billion in bullish liquidations—the highest in nearly three years. The market's downturn, which saw a 6.5% drop in overall capitalization, was exacerbated by concerns over Google’s new quantum computing chip impacting crypto privacy. Analysts noted unusual sell orders, suggesting a major player may have been forced to liquidate positions, indicating potential market extremes.
