Crypto Markets See $646M Liquidated in Early 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 almost 90% of the liquidations, with the largest single trade a $14.48 million ETH-USDC order on Binance. Binance, Hyperliquid, and Bybit each saw over $160 million in positions liquidated during the Asian session.
Bitcoin fell more than 5% to around $86,000, while ether dropped over 6% to near $2,815. Solana, XRP, BNB, and Dogecoin slid 4–7%, and Cardano and Lido Staked Ether saw heavier declines. Traders cited thin liquidity and macro uncertainty as key drivers.
Monday’s sell-off mirrored previous cascades this year, where concentrated long exposure triggered rapid forced selling. Open interest in BTC and ETH perpetuals fell further, suggesting ongoing unwinding of leverage. Risk appetite remains fragile, and intraday volatility is expected until U.S. session liquidity improves.
