Crypto Market Faces Volatility as Liquidations Surge on September 10

• Crypto market cap hit $3.89T with $145B daily volume as volatility intensified.
• Bitcoin and Ethereum led liquidations with $38.24M and $36.01M wiped in 24 hours.
• Altcoins saw sharp swings as MYX rebounded 47.65% and WLD liquidations hit $27.94M.

The global crypto market recorded large swings on September 10, 2025, with large-scale liquidations and minor rebounds across major tokens. Data compiled by Phoenix Group placed the market capitalization at $3.89 trillion, while daily trading volume reached $145.04 billion, pointing to heightened volatility throughout the session.

Bitcoin (BTC) maintained its dominant role, trading at $111,897 and accounting for 57.4% of total market share. Ethereum (ETH) followed as the second-largest digital asset, priced at $4,316 with a 13.4% dominance. Despite their solid positions, both assets experienced major losses in derivatives markets, where liquidations mounted. Bitcoin saw $38.24 million liquidated within 24 hours, slightly above Ethereum’s $36.01 million figure.

Trading sentiment remained cautious in the crypto market. The fear and greed index settled at 43, categorized as “fear.” Short positions outweighed longs, with derivatives data showing 50.52% short dominance against 49.48% longs. On Binance, bearish sentiment appeared stronger, with shorts at 52.25%, compared to 47.75% for longs.

DeFi and Market Liquidity Trends

Decentralized finance (DeFi) platforms displayed resilience despite the broader volatility. Total value locked (TVL) across protocols amounted to $235.68 billion, pointing to steady engagement in decentralized markets even as traders shifted positions in response to price moves.

The persistence of high TVL levels indicated that liquidity remained available across DeFi networks, a factor that cushioned some of the market’s turbulence. However, short-term leveraged trading continued to drive large swings in liquidations, particularly in major tokens.

Altcoins Register Mixed Results in Crypto Market

Altcoins experienced a broad spectrum of declines followed by strong recoveries. MYX was among the most notable movers, initially losing 3.24% before surging back with a 47.65% rebound. Internet Protocol (IP) recorded the biggest fall, sliding 12.88%, but managed a 26.86% recovery later in the session.

Other tokens posted low shifts. Pump (PUMP) slipped 0.76% before bouncing 14.06%, while Pyth Network (PYTH) registered a 0.48% dip followed by a 12.84% rebound. Worldcoin (WLD) endured one of the steepest single-day drops, losing 10.48%, but later regained ground with a 12.84% rise. Solana (SOL) also featured among the most liquidated assets, recording $12.16 million in wiped-out positions, alongside $27.94 million in liquidations tied to WLD and $33.07 million linked to MYX.

Outlook Shaped by Liquidations and Fear Index

The September 10 session highlighted the growing influence of derivatives positioning in dictating short-term price behavior. With nearly balanced long and short exposure, sudden liquidation cascades added to market instability. The dominance of Bitcoin and Ethereum remained intact, but altcoins like MYX, IP, and WLD showed how quickly capital rotated in response to volatility.

Market conditions on the day pointed out that high liquidations, cautious sentiment, and DeFi resilience defined trading activity, leaving participants to monitor whether volatility would persist into subsequent sessions.