Bitcoin Slides to $66K as XRP, Ethereum, and Solana Crash: Here Is What Triggered the Drop
The post Bitcoin Slides to $66K as XRP, Ethereum, and Solana Crash: Here Is What Triggered the Drop appeared on BitcoinEthereumNews.com.
TLDR: Bitcoin, XRP, Ethereum, and Solana each fell 6–8% this week, wiping over $80 billion from the crypto market. A $14.16B Bitcoin options expiry on March 27 liquidated 122,000 traders and triggered $451M in total losses. Iran’s threat to block a second oil chokepoint pushed crude above $103, accelerating the crypto selloff sharply. Stablecoin supply near a record $316B signals parked capital ready to return once market conditions stabilize. Crypto markets are facing one of their roughest stretches of 2026. Bitcoin, XRP, Ethereum, and Solana have each dropped between 6% and 8% over the past seven days. The selloff has erased more than $80 billion in total market value since March 24. A record-breaking options expiry, rising geopolitical tension, and heavy ETF outflows all hit at once. The Fear & Greed Index now sits at 23, deep in extreme fear territory. Three Reasons Crypto Is Crashing This Week The single biggest catalyst was the March 27 Bitcoin options expiry on Deribit. It was the largest quarterly expiry of 2026, settling $14.16 billion in contracts. The max pain level sat at $75,000, far above where Bitcoin was actually trading. That gap triggered forced selling across the board, liquidating over 122,000 traders. Total liquidation losses reached $451 million within 24 hours. Iran’s threat to block the Bab el-Mandeb Strait made things significantly worse. That strait carries 12% of global seaborne oil and sits alongside the already-closed Strait of Hormuz. Oil crossed $103 per barrel on the news, pushing investors away from risk assets. The gold-to-crypto rotation that had helped Bitcoin recover in early March reversed sharply. Crypto sold off alongside equities as fear spread through financial markets. ETF outflows added further weight to an already struggling market. Bitcoin ETFs bled $171 million on March 26, while Ethereum ETFs shed $92.5 million the…
Filed under: News - @ March 29, 2026 7:19 pm