$2 Billion Gone In Minutes: Bitcoin Slide Shakes Crypto World

Overview

The global cryptocurrency markets experienced a significant downturn, leading to a rapid sell-off that resulted in about $2 billion in liquidations. Bitcoin’s price fell below a notable threshold, while Ethereum also saw a drop, contributing to a widespread loss of confidence among traders.

What Happened

On Friday, the cryptocurrency market faced a severe decline, driven by a combination of factors. Bitcoin’s price fell under a key level, while Ethereum traded below a significant mark. This downturn led to a massive liquidation of positions, with reports indicating that over 390,000 accounts were affected. A notable order on Hyperliquid for Bitcoin reached a substantial amount, illustrating the intensity of the selling pressure.

The impact on Bitcoin was particularly severe, with approximately $962 million in BTC positions being liquidated within a single day. The majority of these liquidations were from long positions, indicating that many traders were betting on rising prices. In contrast, the amount of short liquidations was considerably lower.

The market reaction was further fueled by a strong US jobs report, which shifted expectations regarding interest rates and triggered a wave of liquidations in a short timeframe. This macroeconomic surprise had a direct effect on traders’ risk management strategies.

Additionally, the day saw the expiration of a large number of crypto options, adding to the market’s volatility. A significant value of Bitcoin options was set to expire, along with a notable number of Ether options. The options market showed signs of increased hedging activity, as evidenced by a rising put-call ratio.

As the sell-off intensified, altcoins were not spared. Major tokens like Solana and XRP experienced substantial losses, reflecting the broad nature of the market downturn.

On-chain data highlighted significant losses among larger holders, with reports of substantial liquidations in high-profile accounts. One account, known for its past profitability, saw its gains diminish drastically, while another account experienced severe paper losses.

Impact on the crypto market

• The rapid liquidation of positions has shaken trader confidence across the crypto market.
• The sell-off underscores the risks associated with leveraged positions in volatile markets.
• The correlation between macroeconomic data and crypto price movements is evident, as traders reacted to the US jobs report.
• The expiration of a large volume of options introduced additional pressure, leading to heightened volatility.
• Major altcoins followed Bitcoin and Ethereum’s downturn, indicating a widespread market impact.
• Significant losses among large holders may lead to further caution among investors in the future.

Updated: 11/22/2025, 4:26:16 AM