Bitcoin experienced a significant drop on Sunday, falling to $92,111 and losing over 8.5% of its value within 24 hours. This decline led to $1.23 billion in liquidations across crypto derivatives markets as bearish sentiment took hold.
The leading cryptocurrency continued its downward trend after reaching a weekend peak of $101,361, resulting in a wave of forced liquidations. According to data from Coinglass, leveraged positions worth $1.23 billion were wiped out, including $222 million in bitcoin longs and $221 million in ethereum (ETH) long plays.
Liquidations accelerated as prices broke through crucial support levels, leading to the closure of undercollateralized positions by exchanges. Ethereum suffered an even more significant drop during the day’s trading sessions, falling by 11.3% due to uncertainty surrounding the Trump administration’s newly imposed tariffs.
Bitcoin’s decline marked its most severe single-day drop in weeks, reflecting a broader correlation with risk-on assets such as equities and commodities. The downturn can be attributed to declining interest and market activity, profit-taking following a prolonged rally above $100,000, and a slowdown in ETF inflows.
Ethereum’s underperformance has been a consistent theme in 2024 and has persisted into 2025. Market participants should exercise caution as further liquidations could deepen losses, although some view the pullback as a temporary correction. With low weekend liquidity increasing volatility, traders are on edge in anticipation of more turbulence. At the time of writing, BTC is trading at $92,535 per coin.
