Crypto Markets See $646M Liquidated in Monday Sell-Off
Crypto markets were hit with nearly $646 million in forced liquidations early Monday, extending losses in bitcoin (BTC), ether (ETH), and large-cap altcoins. Long positions accounted for about 90% of the liquidations, with the largest single trade a $14.48 million ETH-USDC order on Binance. Binance, Hyperliquid, and Bybit each recorded over $160 million in liquidations during the Asian session.
Bitcoin fell more than 5% to roughly $86,000, while ether slid over 6% to near $2,815. Solana, XRP, BNB, and Dogecoin dropped 4–7%, with Cardano and Lido Staked Ether seeing heavier declines. Traders cited thin liquidity and macro uncertainty as key drivers.
Monday’s forced sell-off mirrored prior cascades this year, where concentrated long exposure triggered rapid liquidations. Open interest in BTC and ETH perpetuals fell further, signaling ongoing unwinding of leverage. Risk appetite remains fragile, with intraday volatility likely to continue until U.S. session liquidity improves.
