A broad crypto market selloff wiped out over $1 billion in leveraged long positions as Bitcoin dropped below $88,000. Solana broke below key technical support levels, trading around $124–$127 depending on the session. XRP also slid, touching as low as $1.88 before partially recovering to $2.06.
The $1 billion liquidation event signals that overleveraged traders got caught offside — a forced selling cascade that can accelerate downside moves beyond what fundamentals justify. Solana breaking technical support is a warning sign for altcoin holders broadly; when SOL loses key levels, it historically drags the rest of the mid-cap crypto market with it. The partial XRP recovery suggests some demand exists, but the trend remains fragile.
February 18: World Liberty Fi forum at Mar-A-Lago — watch for crypto policy signals with direct Trump ties. Ongoing: Bitcoin price action around the $88,000 level as a key line in the sand. February (TBD): Trump Media shareholder crypto token airdrop, which could generate retail attention.
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