The crypto market's weekend slide deepened on Monday, with losses spreading across major tokens and high-beta altcoins as a wave of forced liquidations followed bitcoin's weakness. In the past 24 hours, roughly $974 million in bullish bets were wiped out, affecting more than 240,000 traders.
Ether bears the brunt: $385 million in liquidations
Ethereum took the hardest hit among all crypto assets. The second-largest cryptocurrency saw nearly $385 million in liquidations in a single day — the largest figure for any single token. Bitcoin followed with about $188 million, while solana, XRP, and a long list of altcoins accelerated their slide. Liquidation data shows a stark imbalance. Long positions accounted for the overwhelming majority of forced exits; short liquidations were negligible. That tells a clear story: after weeks of range-bound trading and repeated dip-buying attempts, traders got caught leaning heavily in one direction.
Tokenized commodities also hit, silver contracts see unusual liquidations
Damages were not limited to crypto-native assets. Blockchain-based silver contracts posted abnormally large liquidation volumes relative to their usual size. The presence of metals alongside Bitcoin and Ether highlights how crypto exchanges are increasingly used as fast-moving macro trading rails during stress periods. Solana and XRP each recorded more than $45 million in forced closures, while dozens of smaller tokens were swept up as liquidation engines fired across exchanges.
Price action: Bitcoin dips to low-$80K, altcoins fall faster
Price action mirrored the pressure. Bitcoin slipped toward the low-$80,000 area, ether broke key short-term levels, and altcoins declined at a faster pace, underscoring their sensitivity to leverage cycles. With weekend liquidity thinning and risk appetite fading, the move felt more like a mechanical reset than a panic. Whether this clears the path for stabilization or opens the door for another leg lower will depend on how quickly leverage rebuilds once markets reopen in full.