SOL, DOGE, and ADA lead the fall, with the crypto assets market liquidating 635 million dollars!

On Friday (August 1), the short-term fluctuations in the Crypto Assets market delayed the altcoin season, leading to a surge in short positions. Solana (SOL), DOGE, and Cardano (ADA) led the decline among the top ten Crypto Assets projects, but maintained profitability over the past 30 days, reflecting the short-term nature of the current fluctuations. This sudden dumping caused the Crypto Assets market to liquidate $635 million, severely impacting long positions while short positions took advantage of the situation.

Solana, Cardano, and DOGE lead the fall: Market suddenly faces dumping

(Source: CoinMarketCap)

As the Crypto Assets market suddenly faced a dumping, Solana (SOL), DOGE, and Cardano (ADA) led the decline among the top ten Crypto Assets projects. The 24-hour average fall for SOL, DOGE, and ADA is about 7%, but they have remained profitable over the last 30 days, reflecting the short-term nature of the current Fluctuation.

The fall in the Crypto Assets market is mainly due to new investors taking profits from Bitcoin (BTC), resulting in realized profits exceeding $6 billion, and the Federal Reserve's wait-and-see decision during tariff negotiations leading to a delay in interest rate cuts.

Bearish Takeover in the Derivative Market: Long Positions Suffer Liquidation

(Source: Coinglass)

Against the backdrop of a market crash, a large number of long positions have been liquidated, leading to a blow to bullish sentiment. CoinGlass data shows that in the past 24 hours, positions worth $635 million have been liquidated. Of all liquidations, long positions accounted for $577 million, while short positions accounted for $58 million, indicating that bulls are withdrawing from the crypto market.

(Source: Coinglass)

The long positions liquidation amounts for Solana, Cardano, and Dogecoin reached $34.86 million, $5.74 million, and $18.37 million respectively, while the short positions liquidation amounts were $22 million, $286,800, and $847,710 respectively. This caused an imbalance in seller dominance, with a surge in short positions being evident.

(Source: Coinglass)

From the perspective of long and short positions, in the past 24 hours, Solana short positions accounted for 51.96%, significantly higher than the long positions at 48.04%. Similarly, short positions for Cardano and DOGE have also soared to 52.48% and 51.88%, respectively.

Investor sentiment hit: Fear and Greed Index declines

(Source: CoinMarketCap)

Due to traders increasing their short positions in short-term fluctuations, market sentiment has declined, leaving investors still anxious. The Crypto Assets Fear and Greed Index from CoinMarketCap dropped from 62 on Thursday to 57, indicating a sudden shift in investor sentiment. Nevertheless, the index remains close to neutral levels, showing that investor interest is still robust.

Conclusion

The sudden fall of the Crypto Assets market has led to the liquidation of long positions, with altcoins such as SOL, DOGE, and ADA leading the decline. This dumping reflects the market's reaction to the Federal Reserve's interest rate decision and macroeconomic uncertainties. Investor sentiment has been hit, but the Fear and Greed Index remains close to neutral levels, indicating that the market still has some resilience.