Bitcoin (BTC) Price: Sunday Crash Triggers $539 Million in Liquidations

TLDR

• Bitcoin dropped nearly 5% to $86,950 in Sunday trading, triggering $539 million in liquidations across crypto exchanges
• The decline marked Bitcoin’s worst November performance since 2018, with the asset falling 17.49% for the month
• Over 180,000 traders were liquidated in 24 hours, with almost 90% being long positions in BTC and ETH
• Total liquidations reached $646 million across major exchanges including Binance, Hyperliquid, and Bybit
• The crash occurred without an obvious news catalyst, driven by sudden selling volume and leveraged position liquidations

Bitcoin dropped nearly 5% during Sunday trading, falling from around $91,500 to $86,950 on Coinbase. The sudden decline wiped out $539 million in leveraged positions across crypto exchanges.

The drop came without any clear news catalyst. Bitcoin had spent most of the weekend consolidating around $91,500 after closing the previous week at $90,411.

The crash triggered liquidations for over 180,000 traders in a 24-hour period. Almost 90% of these liquidations were long positions, primarily in Bitcoin and Ethereum.

Total liquidations reached $646 million across major exchanges. Binance, Hyperliquid, and Bybit each recorded more than $160 million in forced closures.

The largest single liquidation was a $14.48 million ETH-USDC order on Binance. Ethereum fell over 6% to near $2,815 during the same period.

Worst Monthly Performance in Years

Bitcoin ended November down 17.49%, marking its worst month of 2025. This represents Bitcoin’s worst November performance since 2018, when the asset declined 36.57% during a bear market.

The weekend decline followed Bitcoin’s first green weekly candle close in four weeks. The Kobeissi Letter noted that Friday nights and Sunday nights often see large crypto moves.

The sudden rush of selling volume created a domino effect. Leveraged positions amplified the selloff as exchanges forcefully closed traders’ positions due to insufficient margin.

Altcoins also experienced sharp declines. Solana, XRP, BNB, and Dogecoin dropped between 4% and 7%.

Cardano and Lido Staked Ether posted deeper losses during the same timeframe. Traders pointed to thin liquidity and weak weekend volumes as factors contributing to the rapid price movement.

Market Conditions and Leverage

Open interest across BTC and ETH perpetual contracts declined after the selloff. This suggests leverage that built up during the October rally continues to unwind.

The cascade of liquidations follows a pattern seen in earlier 2025 selloffs. Heavy long exposure builds into resistance levels, funding rates shift, and forced selling pushes prices lower within hours.

Market participants say positioning now looks cleaner after the purge. Risk appetite remains fragile, with intraday swings expected to stay elevated until liquidity improves.

Bitcoin had attempted a mild rebound late last week before the forced liquidations pulled prices back toward the lower end of November’s range. The asset failed to break key resistance levels over the weekend before the Sunday decline began.

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