Crypto prices swung sharply lower late on May 15, with Bitcoin (BTC) falling below $79,000 and Ether (ETH) dropping toward $2,200. The move hit the market fast and pushed volatility higher across major trading pairs.
Bitcoin loses $79,000 while Ether approaches $2,200
Trading data cited in the report showed Bitcoin slipping through the $79,000 level after failing to hold that round-number support. Ether came under pressure at the same time, sliding quickly and nearing the $2,200 area. The synchronized drop in the two largest cryptocurrencies tightened conditions for leveraged traders and added to selling pressure during the session.
$529 million liquidated in 24 hours
According to derivatives data platform CoinGlass, total liquidations across the crypto market reached $529 million over the past 24 hours. A total of 140,443 traders were forcibly liquidated. The largest single liquidation was recorded on Binance in the ETHUSDT pair, where one position was wiped out for $5.72 million.
The scale of the liquidations showed how quickly losses spread from spot weakness into the leveraged derivatives market. As Bitcoin broke below a key price threshold and Ether moved closer to $2,200, liquidation pressure accelerated, driving both the dollar amount and the number of affected accounts sharply higher within a short time frame.
At the time described in the source report, market fear remained elevated and no clear stabilization signal had appeared.