ETH, SOL and DOGE dropped sharply over the weekend as a fresh wave of futures liquidations hit the crypto market. The move made one thing clear: the weakness is not just about Bitcoin anymore. Selling pressure is spreading across large-cap coins and higher-risk altcoins.
Liquidations jumped as the market fell
Ether absorbed the biggest shock. In the last 24 hours, about $385 million in ETH long positions were forced closed—the largest liquidation total among major assets—as prices sank during a broader “risk-off” shift. Bitcoin also saw heavy damage with roughly $188 million liquidated, while losses widened across Solana, XRP, and many smaller tokens.
Long traders took most of the hit
The liquidation spike was strongly tilted in one direction. Long liquidations dominated, while short liquidations stayed comparatively low. That imbalance suggests many traders were leaning bullish after weeks of choppy, range-bound trading and repeated dip-buying attempts—then got squeezed out when prices kept sliding.
Stress reached beyond standard crypto trades
The selling was not limited to classic crypto assets. Tokenized commodities also saw forced exits, including unusually large liquidations in blockchain-based silver products relative to their size. This shows how crypto markets are increasingly used as fast, leveraged lanes for traders reacting to broader macro stress.
SOL and XRP also saw major forced selling
Solana and XRP each posted more than $45 million in liquidations. At the same time, liquidation engines swept through dozens of smaller coins as stop-outs and margin calls cascaded. In total, around $974 million was wiped out in 24 hours, with over 240,000 traders pushed out of positions.
What this price action means right now
As pressure intensified, Bitcoin slid toward the low-$80,000 area, Ether broke important short-term support zones, and altcoins fell even faster—showing how quickly leveraged trades can unwind when sentiment turns.
Because weekend trading often comes with thinner liquidity, the drop looked less like a fear-driven stampede and more like a leverage cleanup—a mechanical reset after too many bullish bets stacked up.
What could happen next
Whether this shakeout helps the market stabilize—or triggers another leg lower—will likely depend on how quickly leverage builds again and whether risk appetite returns once full trading activity picks back up.
