The global crypto market experienced a 5% drop in market cap, totaling $1.05 trillion in the past 24 hours, with over 170,000 traders liquidated for a total of $350 million. Bitcoin and Ethereum both saw significant drops in price, with Bitcoin falling to a 24-hour low of $25,500 and Ethereum falling to a low of $1765. Altcoins such as Filecoin, Polygon, Cardano, Solana, Chiliz, Sandbox, Decentraland, Axie Infinity, and Shiba Inu all fell more than 20%. The market crash was attributed to various factors, including the US SEC lawsuits against Coinbase and Binance, Binance.US stopping USD fiat support, and Robinhood delisting Solana, Cardano, and Polygon.