Crypto Market Crash as $595.8M in Longs is Liquidated, Bitcoin Slides to $105,000

The crypto market experienced a notable decline on Monday. Long positions worth more than $595.8 million were sold off in a single hour.

Crypto Market Liquidations Hit $907 Million

According to CoinGlass data, total liquidation in 24 hours was over $1.13 billion, with long traders accounting for nearly 93% of the losses. Bitcoin led the crash, slipping to $105,000 before rising briefly to its current $107,000 region after failing to hold above $110,000.

The move caused a chain reaction across the market, wiping out billions in open interest. Ethereum fell over 6% to about $3,661. Solana was down 9.4%, to $170, and Dogecoin fell by almost 8%, to $0.171. The latter extended its monthly decline to more than 33%.

The decline was caused by over-bullish positions, which were over-leveraged and not a shift in sentiment. The broader market downturn was reminiscent of the crypto market crash that followed President Trump’s 100% tariff on Chinese goods last month.

During that time, almost $7 billion worth of positions were liquidated within an hour of the announcement. But in this case, liquidations reached to $907 million in 12 hours with losses recorded by both retail and institutional traders.

Insider Concerns Raised as Whale’s $750 Million Short Position Preceded Market Crash

Additional on-chain information indicated that a whales might have had information about the crash. According to market tracker @DeFiWimar, a wallet opened short positions worth 750 million in Bitcoin, Solana, and Ethereum hours before the dump. Hence, they earned over $18 million in profits within 30 minutes.

The BTC drop followed fears of the Hindenburg Omen signal in financial markets. Some traders had warned that this signal had appeared earlier today. It was this signal that accurately predicted the 1987 Black Monday and the 2008 financial crisis.

Crypto analyst Chad Steingraber highlighted this activity on X, noting that the whale’s short exposure was established just before Bitcoin fell below $108,000. Screenshots from the trading dashboard show large short entries worth over $150 million in BTC and $42 million in SOL.

Whale Bets $34 Million on Crypto Rebound Amid Market Carnage

The total crypto market capitalization fell below $4 trillion, erasing more than $100 billion following the crash. In contrast, another wallet tracked by top analyst Ted Pillows revealed that a separate whale has begun opening new long positions.

The address reportedly placed $18 million in Ethereum longs and $15.9 million in Bitcoin longs at an average entry of $3,575 and $103,794, respectively. The move indicates that some large players are already positioning for a rebound.