Bitcoin, Ether, and Solana Declines Push Crypto Liquidations Past $1 Billion

Cryptocurrency markets experienced sharp declines on Thursday, with Bitcoin, Ether, and Solana leading losses, while crypto-linked equities also tumbled.

Bitcoin and Major Altcoins Slide

Bitcoin (BTC) fell below $109,000, trading near $109,330, its lowest level in nearly a month. Ether (ETH) dropped 8% to around $3,954, wiping out gains since early August and down 22% from last month’s highs. Solana (SOL), which traded above $250 just two weeks ago, fell below $200, down 8% in the session. The CoinDesk 20 Index lost 6% amid the sell-off.

The decline triggered a massive leverage purge, liquidating over $1.1 billion in positions, according to CoinGlass. ETH led liquidations with over $400 million in long positions wiped out, followed by $265 million in BTC.

Crypto Stocks Also Fall

MicroStrategy (MSTR), the largest corporate holder of BTC, plunged as much as 10% to a five-month low, erasing all of this year’s gains and leaving it down 1.5% YTD, even as BTC remains up 16% over the same period. Ether-focused firms Bitmine (BMNR) and Sharplink Gaming (SBET) lost 7%-8%, while bitcoin miners MARA Holdings (MARA) and Riot Platforms (RIOT) declined similarly.

Technical Outlook

Thursday’s sell-off brings BTC close to the late August–early September support zone just above $107,000. According to Hyblock Capital analysis cited by CoinDesk, order books suggest a liquidity cluster around this level that could help absorb selling pressure and support a short-term bounce.

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