$500M in Bullish Bitcoin Bets Liquidated as Prices Slide in Early Asian Session

Crypto Markets Lose $646M in Forced Liquidations During Monday Sell-Off

Crypto markets suffered a sharp wave of forced liquidations early Monday, with nearly $646 million in leveraged positions wiped out across major exchanges. The sell-off extended losses in bitcoin (BTC), ether (ETH), and large-cap altcoins, marking another volatile start to the week.

According to Coinglass, long positions accounted for almost 90% of liquidations, with the largest single trade a $14.48 million ETH-USDC order on Binance. Binance, Hyperliquid, and Bybit each saw more than $160 million in positions liquidated, reflecting concentrated leverage that broke during the Asian session.

Bitcoin fell more than 5% to roughly $86,000, while ether dropped over 6% to near $2,815. Other major tokens—including Solana, XRP, BNB, and Dogecoin—declined between 4% and 7%, with Cardano and Lido Staked Ether posting heavier losses. Traders attributed the speed of the declines to thin liquidity and ongoing macro uncertainty.

Monday’s cascade mirrored earlier sell-offs this year, where concentrated long exposure and funding shifts triggered rapid forced selling. Open interest across BTC and ETH perpetuals slipped further, signaling that excess leverage from October’s rally is still unwinding. While market positioning has cleaned up somewhat, risk appetite remains fragile, and intraday volatility is expected to continue until U.S. session liquidity improves.