Crypto markets crash on Black Monday as $1.4B in longs liquidated
$1.4 billion in liquidations hit crypto markets
The cryptocurrency market experienced a brutal correction on “Black Monday,” as more than $1.4 billion in long positions were wiped out in a flash crash.
Triggered by broad financial market turmoil, including a dramatic 6% drop in the S&P 500 and a 6.2% plunge in the Nasdaq 100, crypto investors saw hopes dashed across the board, Сryptopolitan reported.
Key takeaways
- $1.4 billion in liquidations hit crypto markets, wiping out 450K traders in 24 hours.
- 87% of liquidated positions were long, showing market caught off guard.
- Bitcoin dropped below $76K, with a 9% daily loss and 25% decline over 90 days.
- Ethereum, Solana, and XRP suffered double-digit drops; ETH fell below $1,500.
- Global equities also tumbled amid fallout from Trump’s tariff escalation affecting 180+ countries.
Bitcoin falls below $76K as volatility surges
Bitcoin (BTC) plunged nearly 9% in a day, falling below the $76,000 level in its worst April performance in years. In just 24 hours, BTC saw $465 million in liquidations, contributing to the broader $1.4 billion market-wide tally. Trading volume, meanwhile, surged by 275% to $159 billion as panic selling set in.
The global cryptocurrency market capitalization dropped by 8.69%, slipping below the $2.5 trillion mark. This steep decline underscores the vulnerability of digital assets to global financial uncertainty.
Over 450,000 traders were liquidated in the past 24 hours, with 87% of those positions being long bets, underscoring widespread optimism that was upended by intensifying macroeconomic pressures.
Exchange liquidations. Source: CoinGlass
Altcoins join the bloodbath
Ethereum (ETH) plummeted 17%, sinking below the $1,500 threshold. Solana (SOL) and Dogecoin (DOGE) also nosedived by approximately 15%, with SOL falling beneath the critical $100 level. The widespread losses erased weeks of gains across the altcoin sector, catching retail and institutional traders off guard.
The crypto flash crash highlights the market’s sensitivity to global financial policy shifts. With geopolitical risks and trade tensions escalating, volatility is likely to remain elevated. Investors are now watching closely to see whether the crypto market can stabilize—or if this Black Monday signals a deeper correction ahead.
Earlier we talked about black days of crypto market: Top 5 Bitcoin price crashes.
