$900M in Longs Liquidated as Bitcoin, Ether Slide With Equities
Crypto markets saw nearly $900 million in leveraged longs liquidated Monday after bitcoin and ether retreated in tandem with equity weakness.
Ether absorbed the heaviest losses with $320 million in forced unwinds, followed by $277 million in bitcoin. Solana, XRP, and Dogecoin added $90 million more, Coinglass reported. ETH fell from $4,700 to $4,400, while BTC slipped to $110,200.
Volatility surged — BTC’s daily vol jumped from 15% to 38%, ETH’s from 41% to 70% — underscoring ETH’s fragility. Options flows shifted defensive as skew flipped negative. Market pricing now implies a 35% chance of BTC retesting $100,000 by September and a 55% chance of ETH revisiting $4,000.
Traders are bracing for further swings ahead of U.S. GDP and jobs data.
