$850M in Bullish Crypto Bets Wiped Out in Weekend Bloodbath

Nearly $1 billion vanished from crypto markets in 24 hours as weekend selling pressure triggered a cascade of forced liquidations across major tokens and high-beta altcoins.

Ethereum bore the heaviest damage, with roughly $385 million in liquidations—the largest of any asset. Bitcoin followed with about $188 million wiped out, while Solana and XRP each saw more than $45 million in forced exits. The carnage wasn't limited to crypto natives: even tokenized silver contracts posted unusually large liquidations.

The Crowded Trade Unravels

The liquidation data tells a one-sided story. Long positions accounted for the vast majority of forced exits, with short liquidations barely registering. This lopsided damage reveals how traders had crowded into the same "buy the dip" strategy after weeks of range-bound action.

More than 240,000 traders were forced out of positions as liquidation engines fired across exchanges. The mechanical nature of these forced sales amplified the selloff, creating a feedback loop that pushed prices through key technical levels.

What makes this selloff particularly interesting is the presence of tokenized commodities alongside traditional crypto assets. The fact that blockchain-based silver contracts featured prominently in liquidations shows how crypto venues are increasingly used as fast-moving macro trading rails during periods of stress.

Weekend Mechanics vs. Market Panic

Bitcoin slipped toward the low-$80,000 area while Ether broke key short-term support levels. Altcoins fell at an even faster pace, reinforcing their sensitivity to leverage cycles and risk-off moves.

But this wasn't panic selling in the traditional sense. With liquidity thinner over the weekend and institutional participation reduced, the move looked more like a mechanical reset than fundamental repricing. The question now is whether this clears the path for stabilization or opens the door to another leg lower.

The timing matters too. Weekend crypto trading has become increasingly algorithmic, with fewer human traders to provide natural buying support when automated liquidations kick in.