TLDR
- Bitcoin dropped nearly 5% to $86,950 on Sunday, triggering $539 million in liquidations across crypto markets
- Over 180,000 traders were liquidated in 24 hours, with almost 90% being long positions in Bitcoin and Ethereum
- Bitcoin recorded its worst November since 2018, dropping 17.49% for the month
- The crash occurred without any obvious news catalyst, blamed on sudden selling volume and high leverage
- Binance, Hyperliquid, and Bybit each saw over $160 million in liquidations during the sell-off
Bitcoin experienced a sharp decline on Sunday, falling nearly 5% in just three hours of trading. The asset dropped to $86,950 on Coinbase after spending most of the weekend trading around $91,500.
The sudden price movement caught traders off guard. The crash happened without any clear news catalyst driving the sell-off.
The decline came after Bitcoin closed its first green weekly candle in four weeks. The asset ended the previous week at $90,411 before Sunday’s downturn.
Trading firms noted that Friday nights and Sunday nights have frequently seen large crypto price movements throughout the year. This pattern has repeated itself multiple times in 2024.
Massive Liquidation Wave Hits Traders
The price crash triggered a wave of forced liquidations across major exchanges. Over 180,000 traders saw their positions liquidated in a 24-hour period.
Total liquidations reached $539 million according to CoinGlass data. Almost 90% of these liquidations were long positions, primarily in Bitcoin and Ethereum.
Binance, Hyperliquid, and Bybit each recorded more than $160 million in liquidations. The largest single liquidation was a $14.48 million ETH-USDC order on Binance.
Analysts attributed the flash crash to a sudden rush of selling volume. This selling created a domino effect that was amplified by the high number of leveraged positions in the market.
Liquidations occur when exchanges forcefully close a trader’s leveraged position due to insufficient margin. When a trader cannot meet margin requirements, the exchange automatically closes their position.
November Marks Worst Performance Since 2018
Bitcoin closed November down 17.49%, marking its worst month of 2025. This was also Bitcoin’s worst November performance since 2018.
In November 2018, Bitcoin fell 36.57% during a prolonged bear market. The current month’s decline represents the second-worst November in Bitcoin’s history.
This is actually a great start to the month.
1. We didn't get a Sunday pump
2. CME gap already closed
3. $400m in long liqs taken alreadyDownside liquidity swiped first, which is what we want to happen.
We now have almost $2bn in shorts between here and $92.5k. And $13bn in… pic.twitter.com/sR8uVNG57O
— Sykodelic
Ethereum also faced pressure during the sell-off. The asset dropped over 6% to around $2,815 during the same period.
Other major cryptocurrencies experienced similar declines. Solana, XRP, BNB, and Dogecoin dropped between 4% and 7%.
Traders pointed to thin liquidity and ongoing market uncertainty as factors contributing to the speed of the price movement. Weekend volumes tend to be lower, making markets more susceptible to rapid price swings.
Open interest across Bitcoin and Ethereum perpetual contracts declined after the liquidation event. This suggests that some of the leverage built up during October’s rally continues to unwind.
The market attempted a mild rebound late last week before Sunday’s forced liquidations pushed prices back to the lower end of November’s range.
The post Bitcoin (BTC) Price: Declines 5% as 180,000 Traders Face Liquidation on Sunday appeared first on Blockonomi.
Source: https://blockonomi.com/bitcoin-btc-price-declines-5-as-180000-traders-face-liquidation-on-sunday/