The crypto market kicked off the week with one of its sharpest downturns of 2025, erasing more than $151 billion in market value within a single day. According to data from CoinGlass, over $1.7 billion in leveraged positions were liquidated in just 24 hours, leaving more than 402,000 traders in the red.
Ethereum (ETH) bore the heaviest losses, with nearly $500 million in liquidations, while Bitcoin (BTC) saw about $284 million wiped out. Altcoins such as XRP, Solana, Dogecoin, and Hyperliquid (HYPE) tumbled between 7–12%, erasing recent gains and signaling an abrupt end to the latest altcoins rally.
The cascade began with BTC dipping below $113,000, triggering margin calls and automated sell-offs. Within just 30 minutes, liquidations had surged past $1 billion, underscoring the fragility of highly leveraged trading environments.
Historically, altcoin seasons last only a few weeks before liquidity rotates back into Bitcoin. Analysts warn that the latest liquidation cascade may have ended this cycle earlier than expected.
Smaller tokens, including ASTER, WLFI, and PUMP, which recently saw speculative surges, were among the hardest hit, with more than $263 million in altcoins longs liquidated.
Despite the steep losses, many analysts argue the pullback reflects a healthy reset rather than the end of the bull cycle. Overleveraged traders were washed out, creating stronger support levels for long-term holders.
For now, the market’s next move hinges on whether Ethereum can hold above $4,100 and Bitcoin stabilizes near the $112,000–$114,000 zone. Despite skepticism from traders, analysts predict a correction as laying the groundwork for the next upward move in the ongoing bull market.
Cover image from ChatGPT, ETHUSD chart from Tradingview
