News 
May 30, 2025 
3 min. 
Crypto market liquidations soared over the past 24 hours, with more than $841 million in forced positions wiped out ahead of Friday, May 30, primarily during late North American trading hours.
The sharp downturn was triggered by Bitcoin’s (BTC) price falling below $105,000, igniting a cascade of long-position liquidations across the altcoin sector, particularly among highly leveraged memecoin traders.
According to Coinglass, approximately $747 million of the liquidations came from long traders, with significant exposure linked to crypto whale James Wynn, whose positions added to short-term bearish sentiment.
Short sellers also suffered, facing nearly $80 million in liquidated positions, reflecting the intense volatility gripping the market.
As fears of a long squeeze continue to build, some analysts remain cautiously optimistic about a potential rebound over the weekend, keeping traders on high alert for Bitcoin’s next major move.
What’s Ahead for the Altcoin Market Amid Bitcoin Volatility?
Despite heightened market turbulence, optimism remains strong among altcoin investors, with many eyeing a potential rebound in the days ahead. Bitcoin’s Fear and Greed Index currently hovers around 61, signaling ongoing investor confidence and moderate greed across the broader crypto market.
A key driver of this sentiment is the steady progress of crypto regulatory frameworks, particularly in major economies like the United States. These developments have encouraged a new wave of institutional investment in Web3, fueling long-term bullish expectations across both Bitcoin and the altcoin sector.
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Still, headwinds remain. If Bitcoin slips below the $100,000 level in the near term, analysts warn it could delay any substantial recovery for altcoins. However, should BTC rebound above $110,000, the large number of bearish positions currently in play may trigger a short squeeze, propelling prices sharply upward.
Overall, the outlook for altcoins appears cautiously optimistic, bolstered by growing institutional adoption and improving regulatory clarity. Traders may take a wait-and-see approach in the short term, especially if Bitcoin tests critical support near $96,000.
