Massive $800M Wipeout Hits Crypto Bulls as XRP and SOL Sink 14%

Crypto Liquidations Top $840M as Market Melts Down Under Tariff Shock

A brutal sell-off in the crypto market triggered more than $840 million in liquidations over the past 24 hours, with bulls bearing the brunt of the damage as traders misjudged market momentum amid rising global tensions.

Bitcoin (BTC) plunged below $77,000, dragging down the broader market. Ethereum (ETH) crashed 15% to $1,500, while Solana (SOL) and XRP saw losses of up to 14%. Even meme coins like Dogecoin (DOGE) weren’t spared, falling sharply before seeing mild recoveries during Monday’s Asia trading session.

According to CoinGlass, over $322 million in bitcoin long positions were liquidated, with ETH longs close behind at $290 million. Altcoins collectively saw another $400 million in liquidations, with SOL and XRP futures accounting for an unusually high chunk — around $80 million in total.

The sell-off appears to have been fueled by overconfident bullish sentiment. Roughly 86% of futures positions were long, betting on a rebound that never came. The unexpected drop triggered a cascade of forced liquidations, intensifying price declines across the board.

Liquidations occur when traders’ leveraged bets fall too far out of the money, prompting exchanges to forcibly close positions. When these occur en masse, they often reflect panic and mark local tops or bottoms.

The market pain wasn’t isolated to crypto. U.S. equity futures dropped 5%, continuing the fallout from President Trump’s sweeping tariffs, which investors fear could spark a new round of global economic disruption. Billionaire investor Bill Ackman called the policy an “economic nuclear war,” urging the president to reconsider before Monday’s full market open.

Despite the bloodbath, some analysts believe the extreme sentiment and liquidation wave could mark a short-term bottom — potentially setting the stage for a relief rally if broader conditions stabilize.

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